Servicing / Default
Providers need to effectively engage with borrowers and meet their evolving needs. Whether it is default/forbearance related or regular servicing requirements, providers need to streamline their operations to improve borrower experience.
The team at PrologiQ has over 8 years of experience in managing servicing requests. Several servicing clients partners with us, as we offer end to end mortgage servicing support – from client query management, forbearance requests to loss mitigation, loan modification and working with underwriters and borrowers.
Loan Boarding
- Introductory customer communications
- Set-up loan information on the servicing system
- Authenticate given information
- Requirement fulfilment
Investor Reporting
- Investor accounting reports generation
Invoice Management Support
- Invoice generation, communications with customers and aligning timely invoices
- Data entry for check payments and payment exceptions
- Payment reconciliation
- Manage return payment and bankruptcy warnings etc.
Forbearance Requests Management
Default/Loss Mitigation
- Initiate NOI, pre-foreclosure, foreclosure processing and set up bankruptcy
- Vendor management to get third party reports to assess loss
- Early-stage collections and inputting of information on loan modifications and customer contracts
Bank Reconciliation
- Accurate reconciliation of deposits against payments made towards taxes and insurance before finance team releases the funds to vendors
