Optimized |Cost-effective| Solution

In today’s specialized marketplace, it can be more cost effective and efficient to subcontract highly technical or geographically disbursed tasks rather than building a capacity in-house.

Many servicers use third party vendors to perform some of the more specialized functions. Starting from analyzing modification document to segregating bulk packages as per document type to maintaining daily workflow, analyzing the loan application and so on can be performed at a cheaper rate.

Proprietary Mods
Deed in Lieu
Document Indexing
Short Sale
Skip Tracing
Call Monitoring

ROI-defined | Increased productivity |Over-achieved SLA’s

Nexval reviews the correspondence received from Borrower/Attorney, identify the request type and forward it to the respective department with appropriate notes in mortgage servicing platform.

Our team evaluate and reviews the borrower loan modification application as per investor and servicing guidelines for modification eligibility post underwriting review.

Besides, we review the Modification Package received from Borrower/third party in REALM to ensure all required documents are present to underwrite the loans as HAMP or Standard Modification guidelines. In case of any discrepancy or missing document, Nexval Agent also generate missing document letter to notify borrower to submit missing documents.

Gamut of Loss Mitigation Services

Proprietary Mods

Nexval team reviews the Loss Mitigation workout package and correspondence received in the Mailbox and forward to the respective department for review.

Deed in Lieu

Nexval team reviews Authorization form received from Borrower to pull Title report on the property.

Document Indexing:

Nexval provides the service of segregating and indexing the modification and correspondence documents into an imaging system for underwriting review.

Short Sale

Nexval team reviews short sale application package for review and accuracy and provide the findings to Asset Resolution specialist for short sale proceeding as per the guidelines.

Skip Tracing

Call Monitoring

Case Study

Payoff Quotes Automation

Issue Description:
About Process:File Review process is reviewing the borrower modification and short sale package as per servicing guidelines and providing the review input for an underwriting decision.
Training timeline for new hires was a huge challenge and time duration was 2 months to complete the process training and onboarding in live production.

Long training time was a constraint factor for the business unit.

Transformation Initiatives

An SOP version of excel based Training tool was designed and incorporated into the process which resulted in smooth training function of new hires.
Post implementation of Training tool training time was reduced to 1-month resulting in cost saving and high productivity.

Business Impact

• Accuracy SLA overachieved.
•Productivity count increased by 100%.
•QC effort decreased by 50%.
• Improvement in TAT.
Customer Testimonials
Operations Manager

“I Know we talked about this a little bit but as I was clearing out
some old e-track emails I noticed how well Menaka is doing with the e-track updated. The thoroughness of the updated made a positive impression on me, so I figured I would pass on my excitement to see such care being put into the accuracy of the project”

Outsource and Reports Quality Manager

Your team has been doing a very great job. If you could relay my appreciation to them for the amount of errors they are detecting I would be grateful. It has done wonders for correcting our other vendors.

Manager

I have to take a moment to say… I just got off the phone with Jody and Rafeeque on the CR process. Jody had raised some concerns on the increase in AHT. 

Vice President

“Hello Team, I understand your team has been working diligently on the special project for Escrow started earlier this week. These volumes were far greater than what we anticipated and without the support of Nexval,

Servicing Manager

“Thank you Menaka/Chirag and for your efforts yesterday! This was a perfect storm since NLS did not notify us of the date of the update.

Supervisor

Manoj, I hope this email finds you well. I just wanted to send you a quick note regarding Rafeeque. Since the beginning of the year, I have been assigned to several projects within the company in different lines of business.

Operations Manager

“I Know we talked about this a little bit but as I was clearing out some old e-track emails I noticed how well Menaka is doing with the e-track updated. The thoroughness of the updated made a positive impression on me, so I figured I would pass on my excitement to see such care being put into the accuracy of the project”

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