DLS Announces Launch of Product Aimed at Assisting New FHA Servicers

Michigan-based default mortgaging services consulting and loss mitigation outsource services provider DLS Servicing Consultants has announced the launch of a new product aimed at new Federal Housing Administration (FHA) servicers.

DLS is the creator and owner of FHA loss mitigation decisioning software WaterfallCalc.com, and the company is owned and operated by industry veterans who are specialists in FHA servicing. The new product, known as "Fast Track to FHA Servicing," is aimed at helping small servicers and banks that are new to FHA servicing. DLS will help these small servicers with making sure their standard operating procedures are compliant with current FHA and Consumer Financial Protection Bureau (CFPB) requirements, help train staff and management, provide preliminary audits, and assist with responding to post-HUD audits. For clients that may be acquiring FHA portfolios, DLS will provide due diligence and sample loan reviews for the servicers.

"Mortgage servicing has become increasingly more complicated over the last five years," said Donna Schmidt, Owner and founder of DLS and WaterfallCalc.com. "Expert guidance will help new FHA servicers reduce the risk of costly mistakes, such as interest curtailments, indemnifications or treble damages."

DLS's seasoned and experienced staff will assist servicers with proactive quality analysis of loss mitigation documentation and calculations as well as pre-foreclosure documentation and many other processes. DLS plans to offer its services at a large discount, making the company's services available to small servicers.

"I have a real affinity for the small servicer," Schmidt said. "I've been there.  Our business model is to offer comprehensive, personalized, and customizable consulting services with the budget of the small servicer in mind."