Mortgage subservicer LoanCare has launched Velocity Servicing, an independently managed division dedicated to delivering one-stop resolution for credit sensitive mortgage loans.
The new division will achieve this by carefully managing the borrower relationship and providing transparency into servicing performance, the company says in a release.
Utilizing advanced data analytics, Velocity Servicing puts distressed mortgage loans on the path to resolution significantly faster than traditional servicing, the company claims. By analyzing an intelligent network of triggers, exceptions, and conditions at the loan level, it achieves a consistent return on investment earlier in the process.
In addition, the division works with clients on establishing portfolio goals and executing on a loan-by-loan disposition plan. Velocity Servicing can uniquely structure a solution tailored to a homeowner’s situation, helping them understand their options and make decisions at a pace that puts both the homeowner and client at ease.
“At LoanCare, we are always looking for ways to improve portfolio performance and provide the highest level of service,” says Dave Worrall, president of LoanCare. “Velocity Servicing is a major step forward in our commitment to improve asset performance through high-touch servicing while driving a higher ROI for mortgage investors.”