Retreat Capital, Ellie Mae Collaborate On Loan Mod Solution Delivery

Posted by Orb Staff on April 20, 2009 No Comments
Categories : Mortgage Servicing

t Capital Management Inc., a third-party arbitration services company specializing in loan rehabilitation, and software provider Ellie Mae have agreed to a collaboration in which Ellie Mae will make Retreat Capital's loan modification services available to Encompass Mortgage Management Solution customer base of more than 120,000 mortgage professionals. ‘In this market, lenders are in dire need of loss mitigation and foreclosure prevention services, but unfortunately, there's such an influx of activity that they don't always have the time to develop a workable solution on their own," says Arvin Wijay, CEO of Retreat Capital Management. "By collaborating with Ellie Mae, Retreat Capital is enabling a great number of financial services institutions to access loss mitigation solutions quickly, easily and economically." In order for Ellie Mae users to access Retreat Capital's loss mitigation solutions, they may either directly upload borrower information through their Encompass systems, or fax the information to Retreat Capital. Retreat Capital uses a rules-based loss mitigation technology platform that interfaces with the lender's servicing system. Once a mortgage is submitted, the technology matches that loan against all available loss mitigation options to determine the most suitable solution. At that point, a Retreat Capital's negotiation specialists contacts the borrower to present the available options. Once a resolution is reached, Retreat Capital handles all of the required paperwork and closing activities, the company says. SOURCES: Retreat Capital Management, Ell

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