Warren, Mich.-based Five Brothers, a provider of mortgage field services, has updated its proprietary MOTZ loss mitigation software system to comply with Home Affordable Modification Program (HAMP) and Federal Deposit Insurance Corp. (FDIC) loan modification regulations.
The software automates the calculation of the pass/fail waterfall, the net present value (NPV) of a real estate owned (REO) sale for the FDIC, the NPV of the loan modification and the NPV of foreclosure. MOTZ provides documentation, including cover letters, amortization schedules and loan modification agreements in a timely fashion, Five Brothers says, adding that the software integrates with most servicing platforms.
SOURCE: Five Brothers
