Overture Launches Automated Decisioning For Loss Mit

Posted by Orb Staff on January 23, 2009 No Comments
Categories : Mortgage Servicing

Overture Technologies, a provider of decisioning solutions for lending processes, has launched Mozart for Special Servicing, an automated decisioning system for servicing distressed mortgage assets.

The solution is designed to address the unprecedented volume of delinquent mortgages, as well as the increasing complexities for modifying loans and mitigating financial losses due to foreclosure. Mozart for Special Servicing allows servicers to manage and apply a set of alternatives to borrowers in distressed mortgages and more quickly yield a best-fit modification that can reduce repeat default rates and preserve the value of mortgage assets.

Mozart for Special Servicing leverages Overture Technologies' automated decisioning technology used in mortgage underwriting in a process called "automated re-decisioning," applying a sophisticated rules system to reevaluate the risk and value of a loan at any point along the mortgage value chain.

Mozart for Special Servicing enables servicers to align the interests of borrowers, bankers, secondary markets, investors and other third parties at the beginning of the loan modification process; provide tailored workout options at the loan level; leverage existing infrastructure; integrate with legacy systems and other data facilities, Overture Technologies says.

SOURCE: Overture Technologies

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