Pre-Foreclosure Manager | Loan Modification Manager | Wolters Kluwer Financial Services
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Pre-Foreclosure Manager

  • The number of homes falling into foreclosure continues to rise despite the best efforts of various government and lender-initiated programs. According to RealtyTrac, more than 1.9 million, or 1 in 69 homes, were foreclosed upon in 2011.

    While this places a huge burden on everyone in the community, lenders, like you, are especially feeling the impact. Are you ready?

    Give us the data, we'll take care of the rest

    Don't let the workload overwhelm you. Pre-Foreclosure Manager is a hosted solution that creates, mails, tracks and manages borrower default notices. Documents generated by the system meet Federal and State requirements, and are backed by our industry-leading, comprehensive warranty.

    We know you don't have time to waste. Capitalizing on the capabilities of your existing resources, we can cost-effectively help you manage variations in volume without any additional investment in staffing or technology.

    Here's how it works:

    • Data Receipt—Loan servicer pushes a flat data file (CSV) to a secure Wolters Kluwer Financial Services-hosted FTP site for processing.
    • Document Generation—Pre-Foreclosure Manager interrogates the data and generates the required documents for each borrower on the loan.
    • Document Fulfillment—The documents are then printed and mailed to the borrower according to the State and Federal regulation (depending on the type of document and criteria for each borrower).
    • Certified-Mail Process Management—Many pre-foreclosure documents are required to be sent via Certified Mail. Accordingly, Pre-Foreclosure Manager creates and mails the "Green Card". Signed Green cards are returned to Wolters Kluwer Financial Services where they are scanned and imaged. The physical Green Cards are kept in secure storage and can be easily retrieved for court proceedings A similar process is managed for USPS Electronic Return Receipts.
    • Reporting—A robust web-based reporting module tracks the mail (Certified or First Class) process and reports all events within the generation and fulfillment process, creating and audit trail that the Servicer can use to validate compliance. Images of the document set and physical Green Card or USPS Electronic Return Receipt can also be accessed via the reporting module.

    Best of all, whenever new or updated legal requirements are implemented, we'll make the changes automatically to ensure your documentation is consistent and accurate. With Pre-foreclosure Notification Manager, your organization can easily handle unexpected increases in foreclosure volume and eliminate any compliance confusion.

    Read Notification Best Practices White Paper