Leverage the Power of Predictive Analytics
Improved Decision Making
The nation's leading mortgage servicers are turning to predictive analytics and technologies to develop and improve risk-based collections and loss mitigation strategies throughout the default and REO management process. Large servicers have been able to significantly lower costs and boost revenue by using predictive technologies in conjunction with complementing servicing strategies and improved platforms.
Traditionally, the implementation of cutting-edge mortgage servicing technology has required a capital investment in systems, software and time. Veros, however, offers these capabilities without significant upfront investment.
Benefits of Risk-Based Collections
Key benefits of utilizing predictive analytics and techniques include:
- Decreased servicing expenses;
- Increased revenue;
- Improved REO disposition with lower loss severities; and
- Access to industry-specific economic and collateral data.
When applied in a risk-based collections and loss mitigation strategy, these capabilities allow servicers to more effectively determine the proper strategy to resolve delinquent accounts and make more accurate determinations relative to foreclosure, charge-offs or loan sales.