Computer Sciences Corp. (CSC) has teamed with HOPE NOW Alliance members Wells Fargo Home Mortgage, Bank of America, PMI Mortgage Insurance Co. and Consumer Credit Counseling Service (CCCS) of Greater Atlanta Inc. to develop CSC's EarlyResolution Counseling Portal (ERCP).
ERCP is a national technology service designed to help nonprofit credit counselors reduce mortgage foreclosures. In January, CSC delivered ERCP to Wells Fargo, Bank of America, Countrywide and CCCS for pilot testing. The service will be generally available later this month.
According to CSC, the new counseling portal, which provides a common platform for mortgage servicers and nonprofit consumer counselors, takes advantage of ER's scalability, rules engine, hosted secure operating environment and Web accessibility. With ERCP, mortgage servicers will be able to make loan data readily accessible to participating credit counselors.
Counselors can then complete their debt evaluations, after considering the mortgage contract and all secured and unsecured debt, and return workout recommendations to the servicer. With these automated capabilities, counselors will be able to handle a higher volume of inquiries and reduce training time and costs, CSC says.