PHH Mortgage, a subsidiary of PHH Corp., is now using UTLS Technology Service's BackInTheBlack Fannie Mae-certified workout solution for the Home Affordable Modification Program (HAMP). UTLS Technology Services is a subsidiary of UnitedTech Lender Services Inc.
With the BackInTheBlack solution in place, PHH Mortgage will benefit from having a seamless, Web-based workflow application for managing the HAMP process and providing automated decisioning and workflow to increase accuracy and efficiency, UTLS Technology Solutions says.
UTLS' workflow solution includes guidelines, eligibility, NPV/IR2 integration, automated waterfall calculation, document generation that is pre-configured with all HAMP documents, and XML upload to Fannie Mae's HSSN system.
‘Through BackInTheBlack, PHH will have a holistic approach to performing [HAMP modifications], utilizing a more accurate and effective methodology made available through the collaboration we have done with Fannie Mae and have translated into our decisioning, calculations and rules engine," says Patrick Kopins, president of UTLS Technology Services.
SOURCE: UnitedTech Lender Services Inc.