A new way to solve mortgage relief


The impacts of the COVID-19 pandemic have amplified the demand for rapid mortgage resolution and transparent services. New industrial solutions have emerged that offer greater efficiency for repairers and better overall service for the owner. Discover innovative new default management technology that removes obstacles and creates a new era of instant training decisions.

Management of defaults in housing requests
Efficient workflows – repairers need it. Quick mortgage help – homeowners demand it. Now more than ever, providers are focusing on how to effectively deliver the best options to borrowers, especially those in difficulty. The impacts of the COVID-19 pandemic have amplified the demand for rapid resolution of mortgages. The industry has had to react quickly to the emergence of new policies, personnel adjustments, new working methods and technologies to create more efficiency in all of its activities. Additionally, consumer expectations for digital solutions and real-time results are at an all-time high. These requests bring the management of defaults into a new era of instant mortgage assistance.

Managing defaults is a major focus right now as we seek to manage default volumes, minimize risk and advance sustainable homeownership. There is an increased need for reliable quality control in the training decision process. Technology is driving the shift from processing times to real-time results, from manual data entry to greater task automation, and from tedious documentation to accessible and transparent loan data. Resolve® is a solution where service providers and technology providers have achieved real results by adopting a whole new way of handling defects to remove long-standing obstacles.

“The really wonderful thing about a platform like Resolve is that borrowers will receive the full support and benefits of Freddie Mac’s policy and programs… unbiased and timely,” said Pat Kopins, COO, BackInTheBlack. “This level of consistency is unprecedented in the maintenance industry.

Real results drive the industry forward
Resolve is a new end-to-end default management solution that enables service providers to receive instant decisions on mortgage relief options. This is made possible by the integration between the maintenance agent (or technology provider) and Freddie Mac via API technology – something new for many aspects of maintenance.

Resolve’s capabilities are vast with rules-based decision-making power derived from the policies and requirements to which the services adhere. Resolve evaluates loan data and returns eligible workouts in a single pledge so services can assist borrowers in a timely manner.

“When you think of the digital experience and the self-service options we provide for the customer to communicate with us, this is an end-to-end solution from Fifth Third, BackInTheBlack and Freddie Mac , allowing decisions to be made. to do quickly, that’s what I call a top notch experience, ”said Glenn meadows, Head of Mortgage Management at Fifth Third Bank.

Resolve continues to evolve with new functionality, working towards decision making that returns an all-in-one eligibility assessment within the loss mitigation hierarchy. Services integrated with Resolve enjoy instant efficiency and data without leaving their default management tool.

“We saw a reduction of about 10 to 15 minutes per loan, as well as a reduction in rework due to defects. This allows us to refocus on quality control, ”said Cenlar, service partner of Freddie Mac, in a podcast.

Technology partners who integrate with Freddie Mac to access Resolve APIs are also witnessing the power of this innovative new solution. One of them is a software company, Clarify: “Before Resolve, determining the right practices and documenting the decision-making process took more time and effort. As millions of forbearance plans come to an end, Freddie Mac repairers can now streamline loan operations, saving them incredible time and manpower. More importantly, it ensures that borrowers get a faster response when they ask for help, ”said Jane Mason, Founder and CEO of Clarifire.

Connect the ecosystem
My conclusion is to act now and be part of the new era of service. Your advantage in default management starts with connecting with the Resolve APIs. Visit the Resolve API web page to learn more about integrating with us.

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