Those involved in the processing of foreclosures have limited tools to help them effectively manage various state-required activities. The significant volume of properties going through foreclosure is putting a burden on processing staff and their organizations.
Additionally, it’s becoming more of a challenge to meet the fiduciary responsibility of processing and meeting regulatory timelines while creating sufficient visibility to all parties involved in the process.
Case management platforms and existing technologies are outdated and not optimized to meet the current challenges. The end result is reduced processing efficiency, higher cost and limited opportunity to expand business.
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.
Centralized Scheduling and Tracking
- Centralized workflow technology provides detailed file tracking electronic calendaring and communication to all parties
- Automatic task assignment with alerts based on status of file and state statutes
- Communicates detailed exceptions and solutions on any file directly to the lender/client
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
- Sends filing notices within 24 hours, speeding up timelines with direct communication to all parties in the default space
- FHLMC, FANNE MAE, FreddieMac, HUD VA codes and timelines
- Information archiving and task tracking — system is always audit-ready
- Handles digital document processing based on state requirements
