Magazine article Mortgage Banking

CoreLogic IntelliMods Automates Loan Modification

Magazine article Mortgage Banking

CoreLogic IntelliMods Automates Loan Modification

Article excerpt

CoreLogic, Santa Ana, California, has introduced IntelliMods[TM] a flexible Web-based application that accelerates loan modifications by automating decisioning and fulfillment for both government and private investor programs.

IntelliMods simplifies the loan-modification decisioning process and provides a complete audit trail of all decisions. With Home Affordable Modification Program (HAMP) and GSE decisioning cascades and parameters embedded within the system, it automatically runs the necessary calculations to determine borrowers' loan-modification eligibility. Further, the application allows clients to build unlimited sets of investor and servicer-specific cascades. These cascades can be linked to flow from one waterfall to the next until modification terms are met or retention options are exhausted.

IntelliMods enables servicers to eliminate time-consuming manual calculations and allows them to process single loans or batch upload hundreds at a time. Once the user selects the modification profile (term extension, rate or principal reduction), the application runs the loan or loans through the selected cascade, and delivers a decision within seconds.

Once approved by the user, IntelliMods instantly generates the appropriate modification package. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.