SMART Servicing LLC has announced that DHM Mortgage Servicing LLC (DHM), a mortgage service provider that works with borrowers who are delinquent on their mortgage payments or are facing financial hardship, has purchased a perpetual license of its Servicing Management Asset Recovery & Tracking (SMART) software. The SMART application is an asset management tool that works seamlessly in conjunction with a client’s existing servicing system.
SMART is a proprietary software application developed over a period of 15 years by a well-respected special servicer and principal purchaser of distressed assets. The software, source code and all rights of ownership were purchased in 2009 by Steel Mountain Homes LLC and its affiliate Steel Mountain Capital Management LLC (SMCM), who have continued to develop and enhance the software.
“As a provider of loss mitigation services, we look forward to utilizing SMART’s comprehensive software across our organization,” said James Dooley, a principal at DHM. “We expect to leverage SMART’s technology to better enable our staff to more efficiently review and make asset level decisions.”
Kelly Wayne Garland, a managing partner at SMCM, said, “SMART is designed to remove loan level decision barriers often found in traditional servicing systems and processes. As an owner and manager of [mortgage] assets, SMCM has enhanced SMART with real world experience, asset level transparency and tools that provide for swift and agile asset management decisions. We are very pleased that DHM has given Steel Mountain and SMART its vote of confidence and look forward to continued success with other prestigious partners like DHM.”
For more information, visit www.steelmc.com.