Just Price Solutions, a nonprofit technology subsidiary of Neighborhood Housing Services of America, has announced a new process to determine workable loss mitigation solutions for borrowers, loan servicers and lenders.
By automating situational analysis, this transparent process gives financial counselors, loan servicers and government stakeholders the tools to better communicate via the Web and quickly implement viable solutions for borrowers, the company says. Just Price Solutions allows real-time collaboration between loan counselors and servicers in new ways to easily determine borrower capability to sustain a fixed-rate mortgage and to identify reasonable alternatives to foreclosure.
When supported by Just Price Solutions' BestFIT technology, a counselor and loan servicer can determine efficient solutions given a borrower's individual circumstances and loan terms. Using BestFIT allows the counselor to perform vital functions, including validating the borrower's true capacity to pay, determining the value of the borrower's property and identifying possible financing or refinancing solutions.
SOURCE: Just Price Solutions