Loan counselors can now access and use Default Mitigation Management LLC's (DMM) Loss Mitigation Web Portal, the company says.
Founded in 2008 in collaboration with debtors counsel, servicers and bankruptcy trustees, DMM's portal is designed to streamline communications throughout the loan modification process.
‘From the beginning, we believed that counselors needed to be a part of our portal, so we offered it to all of the counseling alliances at no cost,’ says Joseph Smith, DMM president and CEO. "The counselors that have made the choice and commitment to use the portal are some of the best in the industry. They understand how loss mitigation works, and they put the effort into doing what's needed to help the borrower, including submitting their documentation to the servicer."
DMM is working on expanding its portal to handle submissions directly from borrowers. The new capability is expected to be available at the beginning of the new year.