Improve loss mitigation across all channels.
CSC's EarlyResolution®, the industry's most advanced multichannel lending default management solution, helps keep homeowners in their homes while ensuring consistent workouts for borrowers and improved compliance for lenders. With 45 percent market penetration including users at the top three mortgage lenders, EarlyResolution streamlines the loan workout process for borrowers across all channels and helps servicers manage all aspects of loss mitigation.
EarlyResolution can help servicers keep their portfolios in compliance on many fronts: regulatory, credit risk and investors. The software automates the entire loan default process from initial contact through underwriting and settlement. It also enables core collection scripting, customer service, short sale, loss mitigation and foreclosure activities. The EarlyResolution underwriting feature lets you define investor rules that meet management and regulatory guidance on retention and liquidation workouts.
A Software as a Service (SaaS) default management solution designed by the industry and refined through more than 10 years of CSC’s investment in the technology, EarlyResolution brings one version of the truth to all your default management channels. This enables consistent service to borrowers and a single point of contact (SPOC) whether through call centers, self-service access, or through credit counseling agencies or attorneys. EarlyResolution even supports users on smartphones and tablet computers.
This centralization of event, timeline and transaction comment data also offers tremendous support for CFPB compliance. By marrying timelines and events from across your systems, you can not only stay compliant, but also prove compliance with accurate, easy-to-understand reports.
EarlyResolution Collections/Loss Mitigation
The EarlyResolution Collections and Loss Mitigation solution offers the most advanced, flexible, and scalable default management system for the treatment and resolution of mortgage, second lien, credit card and auto loans. Core collections scripting provides Collections with payment estimators, current workout status, etc. CSC has also partnered with Quandis to deliver a streamlined short-sale processing solution that speeds cycle times.
EarlyResolution Compliance includes powerful business rules, a data transformation engine, easy-to-use dashboards and reporting that deliver visibility, speed and accuracy in responding to CFPB mortgage lending rules. The system can be fully deployed in a matter of weeks.
EarlyResolution Borrower Portal
Extend the industry-proven EarlyResolution Collections and Loss Mitigation application directly to the borrower’s Web browser allowing for greater homeowner participation in the process. Provide borrowers with self-service capabilities including the ability to upload documents. Enable borrowers to initiate the workout process while following your guidelines, and integrate with the servicer’s system of record.
EarlyResolution Counseling Portal
Integrate with servicers’ systems of record and align with servicer and investor rules as you extend EarlyResolution Collections and Loss Mitigation software directly to credit counseling agencies. CSC’s EarlyResolution Counseling Portal helps counselors work directly with homeowners on loan workouts. It also supports lawyers and other default servicing specialists.
EarlyResolution Borrower Inquiry
CSC’s EarlyResolution Borrower Inquiry is accessed by servicers, homeowners and credit counseling agencies to track the status of requests for assistance. This facilitates compliance with SPOC guidance and enables borrowers to track current status of their workouts 24x7.