Striving to Risk-proof the Uncertain Loan Business

The human arsenal is surely deeper than what you can imagine, but at the same time, it has still never possessed anything more significant than that tendency of growing on a consistent basis. We say this because the stated tendency has brought the world some huge milestones, with technology appearing as a major member of the group. The reason why technology enjoys such an esteemed stature among people is, by and large, predicated upon its skill-set, which ushered us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look up close for a second, it will become clear how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component, in fact, did a lot to give the creation a spectrum-wide presence, and consequentially, kickstart a tech revolution. Of course, this revolution then went to scale up the human experience through some outright unique avenues, but even after achieving such a monumental feat, technology will somehow continue to produce the goods. The same has grown more evident in recent times, and assuming a new fintech-related development shakes out just like we envision, it will only propel that trend to something far bigger and better moving forward.

LoanCare LLC, a top U.S. mortgage subservicer, has officially launched a whole new division called Velocity Servicing^TM, which is structured to provide a holistic resolution for credit sensitive mortgage loans. Talk about how it will realize the stated pursuit, Velocity Servicing plans on leveraging advanced data analytics to understand the pain points in play here. This granular-level information should then empower the division to effectively navigate through all those distressed mortgage loans. Apart from that, Velocity Servicing will be responsible for teaming up with different clients so to establish portfolio goals and executing a loan-by-loan disposition plan. Another detail worth your attention is how the division is also well-equipped to conceive a solution which is tailored around a homeowner’s unique situation, something that instantly enhances the probability of a successful operation.

“The Velocity Servicing team has deep loss mitigation experience along with the expertise and personalized service skills necessary to turn distressed loans into performing assets,” said Matt Stadler, President of Velocity Servicing. “The partnership between Velocity and LoanCare creates a unique offering in the servicing space, delivering our partners better resolution times with significant reduction in losses. Together, we help our clients turn distressed loans into performing loans faster.”

Founded back in 1983, LoanCare has swelled up to become a national provider of full service, component, and interim mortgage loan subservicing. But what really drove the company to such heights? The answer talks to its proprietary portfolio management platform named LoanCare Analytics™, which specializes in identifying the risk to opportunity ratio, thus making it possible to take smarter decisions. A brainchild of the renowned Fidelity National Financial company, LoanCare covers a wide assortment of clients, including banks, credit unions, independent mortgage companies, and portfolio investors etc.

“At LoanCare, we are always looking for ways to improve portfolio performance and provide the highest level of service,” said Dave Worrall, President of LoanCare. “Velocity Servicing is a major step forward in our commitment to improve asset performance through high-touch servicing while driving a higher ROI for mortgage investors.”

While Velocity Servicing will bank heavily upon the LoanCare’s best-in-class compliance processes and the wider risk management infrastructure, the division has developed some tools that are going to stay dedicated to its individual cause. An example of the same would be the all-new Portfolio Arc^TM, a solution practically purposed around robust loss mitigation.