Flueid, a real estate technology company using title data and insights to fuel transactions from end-to-end, has launched its new Loss Mitigation Analysis Report, available through the company’s Flueid Decision platform.
The platform packages title data and insights into a digestible report that previews all viable loss mitigation paths tailored to a borrower and property based on the condition of title.
A timely feature in the current real estate market, the “Equity Insights” portion of the report also assesses a borrower’s available equity, property valuation and equity runway as a possible solution to bring a mortgage current. The report and its key features are designed to unlock the power of title data for servicers by significantly streamlining workflows and reducing the friction associated with loss mitigation pathways.
“Flueid’s focused on making title data and intelligence more accessible and understandable at the start of every transaction workflow,” says Peter Bowman, co-founder and CEO of Flueid. “When thinking about the loss mitigation life cycle, we recognized a need for a tool to equip servicers with this data early in their process, so they have ‘instant awareness’ on the condition of title when a loan reaches the 30-day delinquency mark. By having the title data and intelligence in a contextualized and digestible format, servicers are empowered to counsel the borrower on the most favorable path, saving both parties time, money and even distress caused by a non-performing loan.”
With the comprehensive Loss Mitigation Analysis Report, loan servicers are now armed with the data needed to have transparent discussions with borrowers, help them get back on track and help avoid foreclosure whenever possible.
If the borrower seeks reinstatement, the servicer can evaluate each path for a refinance, loan modification and a home equity loan, and present the most viable option(s). Similarly, if the borrower seeks liquidation, the servicer can evaluate each path for a traditional sale, short sale, deed-in-lieu and foreclosure, and present the most viable option(s).
“The Loss Mitigation Analysis Report is a creative solution based on rich, accurate data helping servicers counsel and advocate for their borrowers,” states Priscilla Flake, vice president of product for Flueid Decision Derivatives at Flueid. “By bringing borrower and property information upfront and early in the loss mitigation cycle, servicers are better equipped to help borrowers.”
Once a loss mitigation path is determined by the servicer, Flueid has corresponding title products to support various strategies. Designed as complementary products, the solution suite helps ensure that title partners are working on confirmed files since the servicer knows the viability of a strategy before opening title. This upfront intelligence helps decrease cancellation ratios for title partners so they can focus resources on orders that will close for additional volume capacity.