MReport November 2022

TheMReport — News and strategies for the evolving mortgage marketplace.

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Page 26 of 67

M R EP O RT | 25 During the pandemic, distressed borrowers have been able to easily access mortgage relief resources through self-service portals, pre- venting servicer call centers from becoming overwhelmed while also impacting delinquency rates. "Resolve®, Freddie Mac's default management platform, is a key example of investing in the future of servicing. It provides Guide- compliant workout decisions, so servicers can have real-time interactions with borrowers on eligibility," Lucchino points out. "Resolve sets the foundation to be proactive up front, and then react faster to variables." No matter what economic challenges lie ahead, having the right tools, policies, and people in place prepares your organization to weather unforeseen events and continue to serve custom- ers. Unexpected events always lead to a phase of reaction; it's how—and how quickly—we pivot to proactivity that makes all the difference. Stay invested with us on building the future of mortgage servicing. Visit ReimagineServicing. "Having streamlined steps and policies in place not only increased efficiencies in loan servicing, but also had a positive downstream effect on homeowners," continues Lucchino, "allowing them to remain in their homes and benefit from refinancing opportunities at a time when interest rates were at record lows." —Dave Lucchino. SVP, Single-Family Operations, Freddie Mac

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