The current tools used by attorneys and trustees are outdated, and lack the latest technology and built-in intelligence of varying state processing requirements. Required tasks have to be done manually, with no centralized document processing and communication to the various stakeholders in the foreclosure preceding.
Processing staff takes longer to process a foreclosure file with a greater likelihood of errors. With an overwhelming increase in file volume, foreclosure processors often hire additional inexperienced staff to handle the volume, further compounding the problem.
TrackPoint – Default Module — a web based workflow solution that maximizes foreclosure processing efficiency, ensures nationwide compliance to foreclosure guidelines, and provides state-by-state exception handling, including debt dispute management, forbearance, reinstatement and bankruptcy. The solution automates manual processes to reduce labor and decrease errors.
The TrackPoint Default Module is a flexible, customizable system that easily integrates with existing systems, including case management; does not require changes to existing processes or extensive training.
The system is hosted and administered by DepotPoint and requires no software to install or maintain; no internal staff support required. The solution allows for scalable expansion across multiple locations in a cost-effective manner.
Centralized Scheduling and Tracking
- Centralized workflow technology that communicates to all parties
- Detailed tracking and electronic calendaring
- Automatic calendaring with alerts based on status of file and state statutes
- Communicates detailed exceptions and solutions on any file directly to the lender/client
- Tracks foreclosure and exception timelines
Regulatory Knowledgebase
- Workflow engine based on the only complete, nationwide regulatory knowledgebase for default management across all 50 states; includes Judicial, non-Judicial, and DIL
- FHLMC, FANNIE MAE, FreddieMac, HUD VA codes and timelines
- Schedules based on state and insurer guidelines
- Handles digital document processing based on state requirements
- Ensures compliance and audit-ready status
Improved Business Processes
- System maintains audit-ready status to meet regulatory guidelines; can give instant live-file status or show past activities on a file that has been resolved
- Filing notices within 24 hours, speeding up timelines with direct communication to all parties in the default space
- Information archiving and task tracking — system is always audit-ready
- Status of all files to reduce customer, debtor and investor phone calls
Ensure compliance in every transaction, across every state. Call 1-866-841-5641 or email Enquiries@depotpoint.com.
