Loss Mitigation℠
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- Pairs homeowners navigating hardship with eligible loss mitigation programs
- Seamless milestone-based interactions and single point of contact transition
- Assists with Reg X, CFPB and FCDPA requirements to support operational compliance
- Integrations and APIs streamline loss mitigation operations to increase efficiency
The Loss Mitigation℠ solution delivers the tools your agents need to help homeowners facing financial hardship. The feature-rich, web-based solution supports industry-standard retention and liquidation workouts, as well as proprietary forbearance and modification programs. This comprehensive solution can help your servicing operations streamline processes, simplify decisioning and reduce risk throughout the loss mitigation experience.
- Overview
- Features
About Loss Mitigation
Loss Mitigation leverages advanced business rules to guide agents throughout the process with an intuitive user interface. Rules-driven activity tracking provides built-in quality controls and validation points to help agents reduce risk and manage customer information.
With Loss Mitigation, your servicing operations benefit from API integrations with Fannie Mae (SMDU) and Freddie Mac (Resolve), which automate GSE decision and settlement steps. Additional integrations with MSP®, Servicing Digital℠ and other Black Knight products assist with title orders, credit reporting and access to print vendors – making a seamless experience possible for your agents and homeowners alike.
Serve your homeowners who are facing financial hardship more effectively with a decision engine that helps inform the assistance process with eligible programs. Loss Mitigation features aim to help you uncover assistance options early to help homeowners arrive at resolutions.
Risk Management
Second-level reviews, validation points and entry-accuracy controls help reduce risk throughout the solution.
User-Friendly Agent Experience
A simplified user interface supports proactive, guided next-best options to foster a quality customer experience.
Electronic Document Delivery
A streamlined process of gathering borrower response packages includes direct integration to Black Knight’s electronic signature and document-delivery capabilities.
Integrations and APIs for Efficiency
Integrations with MSP, Servicing Digital and other Black Knight products promote operational efficiency, and API integrations with Freddie Mac and Fannie Mae automate GSE decisions and settlement.
Near-Real-Time Loan Modification
Integration with MSP allows loan terms to be updated in accordance with the loan modification activity.
Audit Tracking
Evaluations and decision outcomes can be viewed in the application or through the creation of an on-demand PDF.
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Speak to a Black Knight representative to learn more about our suite of default solutions and how we can help you mitigate risk and streamline your operations.
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Solutions for Loss Mitigation
Loss Mitigation seamlessly integrates with Black Knight’s suite of easy-to-use, web-based default servicing solutions, including our MSP® servicing system. These applications deliver rules-driven automation and advanced workflows to help streamline bankruptcy, foreclosure, claims and invoicing processes.
Goals Related to Loss Mitigation
Whether you’re looking to improve profitability, mitigate risk or something else – Black Knight can help.
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