The Loss Mitigation solution delivers the tools your agents need to help homeowners facing financial hardship. The feature-rich, web-based solution supports industry-standard retention and liquidation workouts, as well as proprietary forbearance and modification programs. This comprehensive solution can help your servicing operations streamline processes, simplify decisioning and reduce risk throughout the loss mitigation experience. Loss Mitigation leverages configurable business rules to guide agents throughout the process with an intuitive user interface. Rules-driven activity tracking provides built-in quality controls and validation points to help agents reduce risk and manage customer information. With the ICE Servicing Digital solution, customers can initiate the loss mitigation process through an advanced self-service prompt and proactively seek help during difficult times. With Loss Mitigation, your servicing operations benefit from API integrations with Fannie Mae (SMDU) and Freddie Mac (Resolve), to help automate receipt of GSE decision and settlement steps. Additional integrations with MSP, Servicing Digital and other ICE products assist with title orders, credit reporting and access to print vendors – making a seamless experience possible for your agents and homeowners alike. Loss Mitigation aims to help you uncover assistance options early to help homeowners arrive at resolutions.

Features:

• Risk management: Second-level reviews, validation points and entry-accuracy controls help reduce risk throughout the solution.
• User-friendly agent experience: A simplified user interface supports proactive, guided next-best options to foster a quality customer experience.
• Electronic document delivery: A streamlined process of gathering borrower response packages includes direct integration to ICE’s electronic signature and document-delivery capabilities.
• Integrations for maximum efficiency: Integrations with MSP®, Servicing Digital and other ICE servicing products promote operational efficiency, and API integrations with Freddie Mac and Fannie Mae automate receipt of GSE decisions and settlement.
• Near-real-time loan modification: Integration with MSP allows loan terms to be updated in accordance with the loan modification activity.
• Audit tracking: Evaluations and decision outcomes can be viewed in the application or through the creation of an on-demand PDF.