Loan Loss Mitigation Services Washington DC, Dallas & Austin TX

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LOSS MITIGATION

Matt Martin Real Estate Management provides extensive loss mitigation services to financial institutions. MMREM and its subcontractors possess unique experience in high-volume loss mitigation, including both payment-based and collateral-based solutions. MMREM’s development and successful implementation of a system for default management revolves around the philosophy of “managing the heartbeat” of the borrower. MMREM has found that reliance on computer-generated financial models eliminates human interaction from a transaction, limiting the effectiveness of resolution. During this volatile time for the borrower, all parties require a high level of emotional support.

Accordingly, in addition to standard loss mitigation techniques, MMREM works with the specific issues of each borrower. MMREM has found that working with a borrower in a defaulted state is much more of an art than a science, requiring regular human interaction and reassurance that each party's goals are aligned. As a result, MMREM acts more as a counseling service than a collection agency when working with borrowers. MMREM also ensures that all parties—brokers, subordinate lien holders, title companies, buyer’s lenders, both buyer and seller, inspectors, and appraisers—are communicating and working together in harmony, even after a transaction is completed.

MMREM provides excellence in outreach as well as the management of incoming requests. MMREM’s plan to manage workflow is based on collaborative specialization, where team members have very specific roles and responsibilities while simultaneously being held accountable as a team. This collaborative approach serves to improve efficiency, lower costs, and provide higher standards of service.

MMREM uses a workflow management tool that offers real-time reporting at loan level, so that the financial institution and MMREM’s management have constant oversight of files and related tasks. The product, a SAS70 Type II-compliant web-based workflow and reporting system, is widely used in Real Estate Owned (REO) asset management institutions as their management tool. MMREM spent over two years adapting the system as a short-sale-specific workflow management tool, making it easy to integrate with all the major servicing and banking platforms. The system is a modular software program that provides interfaces for borrowers, financial institutions, MMREM, agents, loan officers, service providers, and other parties to the transaction. MMREM’s web-based portal can:

Gather all pertinent data on residential loans
Support multiple data collection workflows for different bank segments
Aggregate customer information for a single view of the relationship
Manage all customer-provided documents
Create an electronic data file for ease of distribution
Route credit applications and information between staff
Generate customized reports
Integrate with Microsoft exchange server for viewing emails and calendar items
Provide a graphical layout of all customer relationships
Provide a tickler system for future actions and compliance oversight
Obtain and include reports from all credit reporting agencies within the application
Provide underwriting and commentary for loan review purposes
Automate financial data collections and spreading
Track financial covenants and industry compliance standards
Can report by location, industry, sector, branch or customer
And more.

If you would like to discuss our services, we ask that you first complete a needs assessment so that we may better serve you. Please send all requests to info@mmrem.com.