Faster Decisions, Enhanced Compliance
The deed-in-lieu process can get stymied as servicers struggle to comply with government programs and investor rules. Deed-in-Lieu assists servicers with lowering loss severity, enhanced transparency and compliance. The product empowers servicers to make faster, more educated decisions by uniting borrowers, servicers, vendors, and outsourcers on a single web-based platform. Deed-In-Lieu also has in-built functionality to evaluate and process deed-for-lease programs.
The entire deed-in-lieu process can be completed through the EQ Platform based on servicer-configured rules and workflow. The product utilizes real-time data from servicing product of records to ensure proper compliance of government programs and investor rules. EQSnapshot tracks critical decisions such as Investor approvals, NPV analysis and program eligibility for future compliance reviews.
Borrowers can start the deed-in-lieu process, submit documentation, and deliver all required documents electronically to determine the suitability of a deed-in-lieu. The product automates requests, electronically delivers title and occupancy information, and evaluates and processes deed-for-lease options.
Deed-in-Lieu can be seamlessly integrated with the EQMarketplace and Invoice Management, thereby integrating vendor and expense management for each transaction.
- Improved transparency
- Increased contact with borrower
- Reduced FTE requirements
- Reduced timelines
- Quicker decisions
- Evaluation and management of deed-for-lease
- Audit trails for compliance and reporting
For more information on this product, please contact Business Development