Response Analytics Software Module For MHA Plan

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

Response Analytics Inc. has developed a new software module for mortgage servicers, investors and mortgage insurers that the company says simplifies the administration of the loan modifications required within the Making Home Affordable (MHA) plan.

The new Home Affordable Modification module contained within Response Analytics' Distressed Portfolio Management solution has preconfigured all of the necessary eligibility, net-present value test, standard waterfall and modification rules and calculations to administer modifications accurately, consistently and in full compliance with Treasury guidelines. The solution is available immediately.

With the new software capability, investors can evaluate the cost/benefit of the Home Affordable Modification program with respect to alternatives (other loan mods, deed-in-lieu, foreclosure, etc.). Also, servicers can administer the Home Affordable Modification program quickly and consistently with an automated software capability that generates a pass/fail indicator for modification eligibility, Response Analytics says. Mortgage insurers, meanwhile, can assess the claims they have committed to within the Home Affordable Modification program for modified loans deemed appropriate to prevent avoidable foreclosures.

The Home Affordable Modification module will also include full documentation and audit capability, the flexibility to quickly configure future federal programs and program changes, and improved "imminent default" predictions to support eligibility determinations based on loan-level behavior modeling.

SOURCE: Response Analytics

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