Borrower Solicitation Support

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.

Our borrower solicitation support services include -

  • 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 underwriting support 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!

Our Process

Our Process

Understanding vendor's mortgage process is important before outsourcing. Take a look at our loan process.

Resources

Resources

Outsourcing mortgage services to Flatworld Solutions can help you streamline your operations.

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