Overview

Servicing mortgages has never been more challenging than today. The home loan industry has been rocked with record delinquencies, resulting in unprecedented demands on servicers. Historical guides to borrower behavior and property valuation have proven hopelessly out of date given current events. Today mortgage servicers have to perform their traditional work, while dealing with a new and changing landscape. The demand on servicer’s loss mitigation resources is extreme. Consumers are both more educated, and more resistant to efforts to reach out to them. They are counseled by attorneys, mortgage brokers, consumer advocates, and (in some cases) politicians who often operate in an adversarial manner toward the servicer and loan holder. 

Servicers must take control of the loan modification process, or they face significant risk.  But often, they lack sufficient resources to do so.

LoanCraft’s Philosophy

At LoanCraft, we are committed to helping servicers meet their obligations in today’s environment. We believe, for the immediate future, Loan Modifications will play an elevated role in home loan portfolio management. We help servicers manage their portfolio, and identify opportunities for applying loan modification techniques and aggressive loss mitigation to minimize servicer and loan holder expenses. With Loan Modifications, we believe an aggressive, pro-active approach is warranted given industry trends. Servicers will either manage the loan modification component of their portfolio, or have the process dictated to them by those with interests that many times do not align with those of the servicer and loan holder. LoanCraft believes in a systematic, uniform approach to identifying candidates for loan modifications. We help servicers by centralizing and systematizing the loan modification process. We make sure that those who can benefit from a modification do receive help, and that those who cannot benefit or would be unjustly enriched by a modification are flagged for appropriate alternative loss mitigation efforts.