The U.S. Treasury Department expects to help as many as 4 million at-risk homeowners avoid foreclosure by reducing monthly mortgage payments through the Home Affordable Modification Program (HAMP). Both Fannie Mae and Freddie Mac require loans to be serviced in compliance with HAMP, adding pressure to bank and credit union regulators, and to the industry itself, to use the program to modify more loans faster.

More than 85 percent of mortgage loans in the United States now are serviced by institutions participating in HAMP. And more than 45 percent of the loan servicing market has picked CSC's EarlyResolution® as the collections and loss mitigation tool of choice.

A nimble combination of flexible scripting, rules engine and workflow, EarlyResolution enables CSC clients to reduce credit closes and stay current with Treasury and GSE guidance as well as industry best practices.

Processing loan mods is complex, and servicers who have signed up for HAMP must follow the HAMP process on their entire mortgage loan portfolio. EarlyResolution's technology platform helps servicers, counseling agencies, third-party loss mitigation specialists and borrowers execute complex business processes even at high volume.

Brochure

EarlyResolution and HAMP
EarlyResolution offers smart technology to help servicers and other loss mitigation parties comply with continually evolving HAMP guidelines and other regulations.

Case Study

Counseling Portal Aids Lenders in a Pinch
Wells Fargo, Bank of America and others use EarlyResolution's counseling portal to help manage processes for HAMP as they support the Hope Now Alliance.

Benefits

• Provides an end-to-end workout solution
• Increases productivity and efficiency with scalable automation and straight-through decisioning
• Supports commencement of HAMP trial period based on verbal information from the borrower from the first right-party contact
• Provides consistent, efficient interaction at various points of contact - servicer, borrower direct, counseling agency, and third-party loss mitigation specialist

For More Information

For more information on mortgage default management, read the U.S. Banker feature on EarlyResolution and contact us by phone or e-mail. Only CSC will use the information you provide.