Computer Science Corp. (CSC) has introduced Borrower Inquiry, a tool that homeowners facing foreclosure can use to track the status of their requests for help from their mortgage servicers. According to the company, this capability also will help expedite workout requests by substantially reducing inbound calls to servicers and thus freeing resources.
CSC's Borrower Inquiry is the first of several planned shared default management tools the company is designing to facilitate workouts and improve loss mitigation process efficiency.
The inquiry tool – which can be used by any servicer, not just those using CSC's EarlyResolution default-management software – informs borrowers of progress in accordance with new guidelines. These guidelines, called HOPE NOW Servicer Guidelines, were released in June by a federally encouraged industry alliance to expedite the process of preventing foreclosures.
Source: CSC