MReport September 2018

TheMReport — News and strategies for the evolving mortgage marketplace.

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TH E M R EP O RT | 9 MTECH as a provider of full-service, outsourced claims processing, pre- and post-filing claims quality-control reviews, and claims- processing technology. The Collingwood Group's newly expanded claims- outsourcing business provides clients with a highly scalable service designed to support the entire claims management and processing function and capable of managing firms' FHA (Parts A & B for CWCOT, Conveyance, PFS, SFLS and Reconveyance and HECM claim types), the VA, the USDA, Conventional: Fannie Mae (571), Freddie Mac (104SF), and PMI (1073) claims. "Owing largely to the highly specialized nature of claims management and processing, firms have historically underinvested in advanced technology to support their claims management and processing functions, relying instead on subject matter experts and manual processes. In our experience, however, subject matter expertise is only one of the several critical components required to support a high-performing claims function, and an overreliance on labor-based processes often results in higher error rates, resulting in correspondingly higher claims curtailment and denial rates," said Collingwood Group President and Managing Director Brian O'Reilly. "We've actively followed the evolution of claims technology for a decade and identified Decision Ready as the unrivaled leader of claims-processing and management technology—bar none. Through this strategic partnership, Collingwood will continue to provide the industry with the unrivaled subject matter expertise synonymous with the Collingwood brand, along with the scalability of Decision Ready's proven platform. Coupled with Situs' counter-party strength and three decades of experience as a trusted provider of outsourced fulfillment services to the largest financial institutions globally, we are confident that our expanded offering will be well received by the industry," O'Reilly continued. "Decision Ready in partnership with Collingwood will lead the much-needed transformation in managing servicer advances, recovery, and loss management. The claims-processing segment has historically been plagued with legacy technology and complex processing rules. We are excited to bring our combined expertise in technology and deep understanding of investor guidelines to the servicing marketplace," said Ravi Ramanathan, CEO of Decision Ready Solutions.

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