Borrower Solicitation Support
Loan defaults and non-payment of mortgage monthly payments may lead to a lot of hassles for the lender. In such situations, it is the responsibility of the lender to reach out to the borrower to help them keep their home while ensuring that all the mortgage loan conditions are being met. However, when you try to reach the borrower, you may face difficulties, as, from the borrower's perspective, you are a predator looking for the missed mortgage payments. The scenario may become quite difficult to handle unless you establish a rapport with such borrowers and ensure them that you are trying to help.
Flatworld Solutions, a leading mortgage services outsourcing company can provide you with the best-in-class support solutions for borrower solicitation and resolve the problems you may be facing while dealing with borrowers. Our mortgage solicitation experts help you establish early contacts with the borrower, explain them how you are trying to help and resolve, both long-term or temporary challenges which they may be facing in paying the monthly mortgage loan payments. We have a team of experts, who excel in communicating effectively with the borrowers and solve the issues in a hassle-free manner.
Borrower Solicitation Assistance We Provide
We offer a comprehensive array of borrower solicitation support services to our clients. We provide borrowers the alternatives to resolve delinquency issues so that their credit ratings and equity remains protected while the stated "quality right party contact" standards by Freddie Mac are also satisfied. We ensure that we comply with the mandatory terms established by Freddie Mac.
Determining the reason for the non-payment of the monthly mortgage payments
Determining the nature of delinquency, whether temporary or permanent
Determining the information about the status of the borrower, that whether they have any plans to vacate the property soon or not, or have already vacated the property
Educating and consulting the borrower with the alternatives for the foreclosure
Reset the payment terms to match the borrower's current financial state
Getting the commitments from the borrowers to resolve the delinquency by making payment for the outstanding amount or seek an alternative for the foreclosure
Borrower Solicitation Process We Follow
We follow a standardized process to deliver result-oriented borrower solicitation support. The steps that are followed by our experts include -
After we have established the quality right party contact, we send the notification to Freddie Mac that we have achieved the date of the initial quality right party contact with the borrower, the co-borrower or the trusted advisor
After the first contact, the other subsequent attempts are also notified as per the standard procedures laid down by the Freddie Mac
Solicitation Letter
If our solicitation letter meets a response from the borrower, we acknowledge the borrower within three business days and confirm that we have received the reply. However, in the event of incomplete response, we send another letter to the borrower to inform him/her about the missing information or document along with the earliest date on which we await the response.
Within 30-days of the receipt of all the required documents, we inform the borrower the different loss mitigation or foreclosure alternatives that are available, and provide them the detailed information regarding the further process to be undertaken.
Why Outsource Borrower Solicitation Support to Flatworld Solutions?
Flatworld Solutions is a professional mortgage service provider that offers its clients the best support services through highly-trained employees. Some of the vital factors which differentiate us from our competitors include -
Seasoned and knowledgeable professionals with vast experience in dealing with borrowers
We offer faster turnaround times for all our services
We ensure that our clients get the best services and we keep our professionals updated about all the latest developments in the field of loss mitigation and borrower solicitation
Our services are affordable and highly cost-efficient
We offer round the clock support and our clients can reach us anytime through a broad selection of communication channels.
Choose Flatworld Solutions for Best-in-class Borrower Solicitation Assistance
Flatworld Solutions has been providing exceptional borrower solicitation support services and a host of other Mortgage Underwriting Services to clients around the world. Our experienced team consists of mortgage specialists who are trained from premier institutes of the world. Our cost-effective services help our clients save considerable amount of time and money which would otherwise be invested in hiring an in-hose team of mortgage specialists.
Contact us today for optimizing your loan defaults and avail hassle free borrower solicitation support services!
Mortgage Processing
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USA
Flatworld Solutions
116 Village Blvd, Suite 200, Princeton, NJ 08540
PHILIPPINES
Aeon Towers, J.P. Laurel Avenue, Bajada, Davao 8000
KSS Building, Buhangin Road Cor Olive Street, Davao City 8000
INDIA
Survey No.11, 3rd Floor, Indraprastha, Gubbi Cross, 81,
Hennur Bagalur Main Rd, Kuvempu Layout, Kothanur, Bengaluru, Karnataka 560077