LenderLive Network, Inc., a business process outsourcing and technology provider for the financial industry, has launched a portfolio analysis tool that automates early workout determination.
In a press statement announcing the new technology, LenderLive explained that it leverages the company’s proprietary product eligibility engine to improve the efficiency of determining the alternative loan product or loan modification that is most appropriate for borrowers whose mortgages are at risk. As part of LenderLive’s EarlyAction initiatives, the eligibility engine performs a preliminary search and analysis of loan pools for workout options that may be available for these at-risk borrowers.

“Incorporating an eligibility feature into the process of identifying a more manageable loan increases our capability to mitigate losses from foreclosure and better preserve homeownership,” said Rick Seehausen, president of LenderLive. “In providing a more accurate selection of modification or refinance choices that actually ease the borrower’s financial situation, LenderLive is able to help lenders keep more borrowers in their homes.”
LenderLive’s EarlyAction program, a service component of the company’s specialty origination channel, provides counseling services to help with loss mitigation and portfolio retention efforts. Trained personnel contact identified borrowers to determine their risk level, complete full financial assessments, and qualify homeowners into alternative loan products or loan modifications, as determined by the lender.
The newly deployed eligibility tool allows LenderLive to perform a preliminary analysis on a portfolio of loans. According to the company, this analysis will provide an early indication of which borrowers might fit certain restructure possibilities. Ultimately, though, final qualification can only be assessed when direct contact is made with the homeowner by one of LenderLive’s EarlyAction counselors.