Huron Consulting Group, a provider of business consulting services, has announced the launch of its residential mortgage loan review service, which supports banks and other lending institutions dealing with large scale, loan-related lawsuits, investigations and regulatory inquiries. The Huron Legal solution offers a fixed unit price for each loan file reviewed, resulting in cost savings of up to 75 percent.
With the continuing fallout from the home loan crisis, government agencies and private litigants are putting increased pressure on banks and other lending institutions to provide loan-related information. Not only are these organizations required to analyze loan files under severe time constraints, but the complexity of data and sheer volume of files combine to render their analysis a very expensive proposition, absent a scalable, efficient process with an alternative non-hourly fee model.
“There is a tremendous market need to analyze massive amounts of loan-related information, and Huron Legal is offering a scalable team of industry professionals to address this demand,” said Shahzad Bashir, vice president of Huron Legal. “We are currently implementing this new analysis workflow on millions of loan files and delivering savings in the tens of millions of dollars.”
Huron Legal’s solution combines more than 300 professionals with backgrounds in law and real estate, working under the direction of the client’s counsel, with a newly designed analysis workflow and a customized database. The result is a streamlined process that can accurately analyze loan records unique to the residential loan mortgage industry. These loan files are different from email and corporate records commonly involved in more traditional commercial litigation. To tackle this challenge, Huron Legal created a customized process, separate and distinct from Huron Legal’s litigation document review services.
“Banks and other lending institutions need a better option,” said Robert Rowe, managing director, Huron Legal. “The stakes are high in the aftermath of the mortgage crisis, and Huron Legal is offering a smarter way to review loan documents and stay in step with regulatory requirements, while considering their bottom line.”
The Huron Legal solution combines legal and real estate professionals, process, and technology to create a scalable, efficient mortgage loan document review service at a predictable fixed price.
For more information, visit www.huronconsultinggroup.com.