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Default Servicing Solutions
Clayton Consulting has extensive
knowledge of default servicing best practices and innovative programs to assist
with the increase in residential mortgage default volumes. Clayton has advised numerous parties in
the mortgage industry on current governmental intervention and regulatory
programs as well as newly created loan modification programs. This extensive knowledge assists Clayton’s
clients with the review and implementation of customized default and loss
mitigation solutions to enhance their business process.
Suite of ServicesAdherence to Federal Home Retention and Loan Modification Programs
- Review current default servicing operations
against stated government regulations and guidelines.
- Assess loan modification programs for compliance with regulations and industry
best practices.
- Identify opportunities and loan modification strategies for improved loan
modification performance.
- Formulate and / or assist with implementation of policies and procedures
necessary to identify population of loans that qualify for targeted programs.
- Assist with managing modification volumes and processing timelines.
Identification of Industry Best Practices
- Perform gap analysis of current operating processes to identify key
risks and deficiencies and provide recommendations for operational improvement.
- Assess current default servicing practices to ensure that policies and
procedures meet industry best practices.
- Review current and projected workflow, caseloads, and capacity planning.
- Perform sample audits of individual loans and loan records to validate servicing
policies against actual practices.
Customized Default and Loss Mitigation Solutions
- Assist in developing and implementing optimal organizational structure and
business processes including key performance metrics and technologies required
to meet the needs of the current and anticipated default servicing environment.
- Create flexible status reporting custom-tailored to business needs, including
loan modification volumes, performance, and re-default rates.
- Staffing solutions to assist with the approval and processing of increased
modification and short sale volumes.
Advanced Training for Internal Staff
- Develop and implement ongoing operational training regimen for new-hires
and tenured staff based on best-practice policies and procedures.
- Provide advanced collections, loss mitigation, and default training for servicing
staff.
What is the Value-Add to Your Business?
- Expanded knowledge of industry best practices and government initiatives and the
impact on performance.
- Implementation of best-practice procedures to manage defaulted mortgage
collateral in a challenging environment.
- Customized solutions to meet unique operational requirements and collateral
characteristics.
- Potential reduction in loss severities through enhanced default servicing
practices.
- Understanding of mandated loan modification programs and updated industry
regulations.
- Strategic implementation of enhanced loss mitigation solutions.
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