Leading full service Mortgage Bankers
A flexible foreclosure processing application capable of:
- Processing Judicial and Non-Judicial foreclosures in all states in compliance with the State, County, Loan and Investor specific regulations.
- Tracking and reporting of Foreclosure process
- Setup B2B interface with Mortgage Servicers and Investors
- Setup B2C interface with bidders for the sale foreclosed properties
Augmented, integrated and optimized application that enables the end user to:
- Define and change business rules according to the regulation.
- Define and change documents templates.
- Web enable the task of generating new avenues of business.
- Accelerated implementation of new states by 9 months.
- Dramatic improvements in compliance.
- ROI: 6 Months payback on Investment.
Foreclosure is a very time sensitive process; each step must be done in correct sequence and time, if any step is missed or not done on time the whole process must be repeated from the beginning.
Visionet’s team reengineers the business process, staring from First Legal Action to Distribution of Sale Proceeds or Escheatment of Undistributed Funds in an optimum way. This results in reducing the foreclosure time to the minimum allowed by the statutes. Complete history of each task is maintained from the time the loan is referred to the foreclosure department.
A database driven Business Engine enables the user to define complex business conditions. These business conditions are associated with the relevant tasks to ensure the verification at completion of each task.
Powerful and flexible print engine triggers the generation of appropriate letters and notices which are automatically faxed or emailed in PDF format to different vendors.
Accounting module automatically computes and applies fees and mailing expenses on one hand on the other hand generates invoices basis of events and matches the payments received from the clients.
The Web interface provides the lenders/loan servicers the ability to transmit their delinquent loans over the web and to view updated processing status of each loan.