Residential Credit Solutions Inc. (RCS), a Fort Worth, Texas-based mortgage servicing company, has implemented Overture Technologies' Mozart for Special Servicing system to identify workout solutions for borrowers.
Mozart for Special Servicing is an automated decisioning system for servicing distressed mortgage assets, using proprietary analytics to move loans to reperforming status.
RCS, which identified a need for automated underwriting, worked with Overture to customize the decisioning technology using its proprietary market information, loss mitigation strategies and business processes. RCS will use the customized version of Mozart for Special Servicing to support its home-retention efforts through its high-touch servicing platform.
"Overture's special servicing technology will improve our productivity by allowing us to more quickly evaluate loss mitigation options for delinquent and at-risk borrowers," says Dennis Stowe, president of RCS. "By automating a segment of the decisioning process, the Overture solution allows us to be more responsive to the borrowers and keep more people in their homes."
SOURCE: Overture Technologies