Servicing / Default
Servicers need to effectively engage with borrowers and meet their evolving needs. Whether it is default/forbearance related or regular servicing requirements, servicers need to streamline their operations to improve the borrower experience.
The team at PrologiQ has over 10 years’ experience in managing servicing requests. Several servicing client’s partners with us, as we offer end to end mortgage servicing support, right from client query management, forbearance requests to loss mitigation, loan modification, working with underwriters, and borrowers.
- Introductory customer communications
- Set-up loan information on the servicing system
- Authenticate given information and validate that all needed documents/information are available in the loan file
- Generation of investor accounting reports based on the given directions
Invoice Management Support
- Involves invoice generation, communications with customers and aligning timely invoices
- Data entry for check payments and payment exceptions
- Aligning payments to the specific account
- Managing payment returns and bankruptcy warnings, etc.
Forbearance Requests Management
- Initiate NOI, Pre-Foreclosure, Foreclosure processing, and setting up Bankruptcy
- Vendor management to get third party reports to assess loss
- Early-stage collections and inputting that information on loan modifications and customer contract
- Accurate recon of deposits against payments made towards taxes and insurance before finance team release the funds to vendors