Lender Processing Services Inc. (LPS) has released ClosingStream 2.0, a Web-based, consumer-facing workflow application with e-signature capabilities specifically designed to support the Home Affordable Modification Program (HAMP). LPS says ClosingStream is currently the only solution available that complies with Fannie Mae's requirements for HAMP e-signatures.
ClosingStream 2.0 supports e-delivery and e-signing of borrower qualification documents, trial plans and modification agreements. The tool also delivers other necessary functionality, such as document generation, formatting and fulfillment/execution.
‘With HAMP modification volumes on the rise, servicers are looking for ways to electronically streamline the process and lower costs,’ says Al Verkuylen, chief strategy officer at LSI, a division of LPS. ‘ClosingStream 2.0 is an interactive, consumer-friendly portal, providing servicers with impressive efficiency gains when processing HAMP and other loan modifications.’