LenderLive Network Inc., a provider of business process outsourcing and technology, says it has successfully launched its first large-scale Home Affordable Modification Program (HMP) campaign with one of the nation's top four servicers. The servicer was not named in the company's press statement.
The Home Affordable Modification initiative is part of the administration's recently passed Making Home Affordable program. With this campaign, LenderLive plans to manage all of the incoming and outgoing documents required under the modification program, including certain fulfillment processes, the company says.
"At launch, we anticipate processing nearly 2,000 transactions per day, where success is measured in terms of seconds per transaction," says Rick Seehausen, CEO of LenderLive Network. "HMP is a document preparation- and document management-intensive campaign, and also requires thorough customer contact efforts, as well as disciplined underwriting practices."
In addition to this launch with a top servicer, LenderLive says it has another five servicers in the queue for which the company is preparing to initiate services. LenderLive can successfully provide servicers with customer contact services, underwriting review of loans and document preparation through its Guardian Mortgage Documents division.
LenderLive says it can provide counseling functions to reach borrowers, determine trial period and modification eligibility and respond to borrower questions about the program.
Also part of the Making Home Affordable program is the Home Affordable Refinance initiative, which is aimed at offering favorable, streamlined refinance terms to current borrowers. LenderLive adds that it is also operational and system ready to manage the refinance leg of President Obama's plan.
SOURCE: LenderLive Network Inc.