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ADAPT releases NPV decisioning engine for streamlined loan mods

Oct 16, 2009

ADAPT Enterprise LLC, a provider of an on-demand software solution for loss mitigation specialists in every sector, has announced the release of ADAPT, a Web-based NPV Decisioning Engine designed to empower mortgage brokers, attorneys, community-based organizations and others to support servicers by preparing loan modification packages that conform to the government’s Home Affordable Modification Program (HAMP) guidelines automatically. ADAPT stands for Automated Decisioning Asset Performing Technologies.   The tool enables loss mitigation professionals to instantly determine the eligibility of a loan modification, based on HAMP guidelines. The system applies the base NPV calculations and defines the reduced rate, modified term, step-rate along with principal forbearance (if suggested), all in real-time. It then produces the package for the servicer’s review.   “Servicers are overwhelmed with the volume of loan modifications they are receiving right now and can not deal with them because they are so busy dealing with borrowers who are closer to being foreclosed upon,” said Tom Sato, president of ADAPT. “This tool will allow loss mitigation specialists to do the heavy lifting for mortgage loan servicers, providing them with deals that will meet HAMP guidelines, complete with the paperwork to move the deal through to closing. This is the solution the industry has been looking for.”   ADAPT provides a secure pre-qualification application exchange, which is triggered by the end-user, enabling the homeowner to enter data in a secure web environment. The tool informs all parties that the homeowner is required to enroll into a HUD-approved housing counseling program automatically if it detects that the back-end DTI exceeds 55 percent. The system will automatically import the borrower’s data into the Freddie Mac Loss Mitigation Transmittal Summary form as soon as it automatically confirms borrower eligibility.   For more information, visit ADAPT-Now.com.
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