Are you looking for an automated cloud-based tool to ensure fair and consistent treatment during the loan default and loss mitigation process? Are you complying with mandatory timelines for contact with customers, a single point of contact rules and loss mitigation processing standards?
Turn to ComplianceTech’s Fair Servicing™ software to proactively uncover potential fair servicing risks. We transform your data into powerful fair servicing analytics to monitor loss mitigation activities that minimize the risk of running afoul of fair lending laws and regulatory rules.
Easily access a suite of fair servicing statistical analysis reports to identify trends, outliers and anomalies in the default management process.
Now you can evaluate loss mitigation application risk, outcome disparity risk and other risks based on the regulatory guidance related to the loss mitigation program.
For example, servicers can easily determine significant differences in loss mitigation application approval/denial by race, gender, age, income, and property location and determine whether the distribution of home retention and disposition outcomes vary based on the protected status.