Loss Mit Web Portal Receives Update

Posted by Orb Staff on June 17, 2009 No Comments
Categories : Mortgage Servicing

t Mitigation Management LLC (DMM) has released an update to its Debtor's Counsel Loss Mitigation Web portal, www.dclmwp.com. The new release creates more effective channels of communication among attorneys, servicers and, now, trustees, DMM says. Through the portal, servicers can advise attorneys of their exact requirements for submitting files for loss mitigation, and servicers are now able to attach and deliver the forms they need to complete a review. All information submitted by the attorney (including any documentation) is posted and stored on the portal and is available to the attorney and servicer to see at any time. "With our new release, some of the servicers using the portal are responding to the initial request within 48 hours," says Joseph Smith, president and CEO of DMM. The portal automatically tracks the status of every file, from submission to resolution. All communications between the attorney and servicer are tracked, and a full history of every account can be viewed at any time. In addition, both parties receive notice of any updates or changes to an account – on the portal and via e-mail. The new release also has a Bankruptcy Trustee module that enables trustees to view any file in their district that was submitted through the portal. Future releases of the portal will enable trustees to interact in the loss mitigation process. SOUR

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