Claims Management
The current environment has led to loan repurchase requests from investors, GSEs, and mortgage insurance investors. Investors are enforcing the representations and warranties clauses within purchase and sales agreements and are aggressively pursuing remedies due them as a result of loan deficiencies. Most firms acted as both buyers and sellers of loans, and are now looking for ways to manage claims and repurchase requests. LMS’ Claims Management module is able to facilitate this process by being able to:
- Evaluate and process claims and repurchases as a result of a breach of reps and warrants or servicing related transfer issues
- Review/analyze /identify true EPDs, generate claim letters, track and manage client response
- Manage self initiated repurchases related to reviews performed by internal departments such as Quality Control, Internal Audit or Fraud
- Evaluate and process claims from Mortgage Insurance companies
LMS provides one system that pulls everything together: third party data, original pricing information, and risk management reporting. Users are able to:
- Compare original pricing; seller and loan details are compared at the time of repurchase and original purchase
- Link to third party services to validate or dispute claims/repurchase requests
- Customize reporting to track trends
- Follow the workflow process of investigation of claim; generate response and rebuttal to claim, and inform risk management of outcome
- Track counterparty losses
Additionally, SSI offers a Managed Platform for clients seeking a system that can be up-and-running quickly while maintaining the scalability, flexibility and enterprise-ready features needed to support their business plans. The Managed Platform option requires no additional client hardware/software and is fully managed by SSI technical staff. In addition, LoanTalk enables automation and real-time integration between SSI products and other internal systems, models and third party vendor systems.
