Mortgage Repurchase Demands And Appeals
Press Release Archive - July 2006

Visionet Systems Launches A Comprehensive Solution to Manage Mortgage Repurchase Demands And Appeals

VisiRepurchase® enables investors and lenders to improve productivity and efficiency by managing demands and appeals

CRANBURY, N.J., July 13, 2006 –Visionet Systems has launched VisiRepurchase®, an automated repurchase demand/appeal solution that enables investors to identify purchased loan deficiencies and electronically manage repurchase demand communications. Similarly, it helps lenders to improve profitability and increase overall departmental effectiveness by maximizing appeal success rate.

VisiRepurchase® helps investors manage and track the quality of a loan and generate deficiency based demand letters. Investors can use VisiRepurchase® in conjunction with VisiLoanReview? (a rules driven due diligence and loan review solution) to identify problem loans and automate the correspondence, follow-ups and tracking of communication and compliance.

From a Lender perspective, VisiRepurchase® increases the number of successful appeals by tracking historical successes and strategies. The system also provides an automated repurchase management portal so that information can be shared between business units and partners. Efficiency is increased through exception based, workflow technology and real-time pipeline reporting; ensuring timely reports regarding repurchasing risk performance and consistent tracking of due dates, follow-ups and reminders. The engine delegates tasks to team members and groups based on business criteria, skill and loan characteristics. This facilitates increased visibility, productivity and lower cost of operation. Included in the solution is a deadline management function that assigns processing deadlines to all demand letter actions, including appeal and repurchase completion by the lender or investor.

The system also has the ability to issue or accept a variety of repurchase requests and approvals, such as repurchase referrals, demand letters, audits and HUD indemnifications, while also supporting third party originated loans. VisiRepurchase® reduces business liability and losses through maximization of appeals over indemnifications and repurchases, while increasing underwriting productivity by 30 percent.

“Because one bad loan has the ability to negatively impact the profits of five good ones, a repurchase management solution is necessary for investors and lenders to increase successful appeals and thereby remain profitable,” said Arshad Masood, president of Visionet Systems.

About Visionet Systems Inc.

Cranbury, N.J.-based Visionet Systems is a full service mortgage consulting and business process outsourcing company that delivers products in the best-of-breed philosophy. Using a combination of consulting, metrics-based technology solutions and business process outsourcing, Visionet Systems helps lenders identify and remove inefficient processes to improve profitability. Founded in 1995, the company’s customers include mortgage lenders and servicers.

For more information, visit www.visionetsystems.com

Visionet Systems Inc.
www.visionetsystems.com
3 Cedarbrook Drive
Cranbury, NJ 08512
Phone 609.452.0700
Fax 609.655.5232
mortgage@visionetsystems.com

Contact:

Arshad Masood
Visionet Systems Inc.
609-452-0700 Ext. 1119
arshad@visionetsystems.com

Joy Harper
Visionet Systems Public Relations
(678) 799-8118