Anticipating more loan workouts in the mortgage marketplace, iMortgage Services (iMS) is toting the value and availability of its proprietary PropertySmart™ system—a product that allows servicing departments to perform a loss mitigation title search immediately and quickly move forward with the loan modification process.

iMortgage says in cases where there is “no intervening liens on the property,” the proprietary platform allows servicers to move swiftly through the loan modification process. And through its platform, the company claims servicers can obtain a new valuation as well as a record of settlement services.
“iMS continuously updates its products and services to meet the challenges of the changing market,” said iMS president Brian Uffelman. “It’s a key component of our customer-focused philosophy. In a time of such economic volatility we understand the importance of giving lenders the ability to easily manage mortgage loan workouts. ARM resets are prepared to explode in the coming year and many borrowers will find themselves facing new payments they just cannot meet. Lenders can rely on the flexibility of the iMS Loan Workout solution to negotiate a better financial situation for these borrowers, while meeting the precise needs of their unique business model.”