Commerce Velocity Upgrade Maintains GSE Compliance – NMP Skip to main content

Commerce Velocity Upgrade Maintains GSE Compliance

Aug 29, 2011

Commerce Velocity, a member of the Fidelity National Financial (FNF) family of companies and a provider of default technology has enhanced their Optimizer solution to help achieve the new requirements for Fannie Mae's Quality Right Party Contact (QRPC) initiative. The new enhancements are designed to arm servicers with technology to document, as required by QRPC, the varied forms of communication to the borrower regarding the resolution of their delinquent mortgage. It also maps all of the required notices, letters, and forms required by Fannie Mae to be in a servicer's default processes by the Oct. 1, 2011 deadline. "QRPC has raised the bar for servicers to prove they have been diligent to build rapport with the borrower, understand their financial circumstances and intent, educate the borrower on foreclosure alternatives, and obtain a commitment from the borrower on the resolution path going forward," said Umesh Verma, president of Commerce Velocity. "Complicating matters is balancing QRPC with the Fair Debt Collections Practices Act, the United States Bankruptcy Code, and applicable state laws. It's unreasonable to expect workout specialists to manage all of these compliance risks without technological guidance. Meeting the guidelines and achieving the QRPC benchmarks for compliance will require the support of technology that not only can manage the tasks but also document the communication attempts, document the tasks and requirements completed, and prove deadlines were met throughout all default stages." The Optimizer enhancements enable servicers to define collection calls as tasks, including follow-ups, which can be managed systematically while the ability to add notes and comments by default stage can aid in documenting the servicing file as required by QRPC. Similar enhancements enable servicers to manage property inspection orders and the forwarding of notices and letters to the borrower in a timely manner. "The Optimizer audit trail provides confidence to our servicers that default stages and requirements are completed according to QRPC," said Verma. "The ability to document and timestamp default activities will not only help servicers achieve the QRPC benchmark requirements but also help monitor the timeliness of borrower communication which we believe is critical to improved mortgage resolution rates."
About the author
Published
Aug 29, 2011
Newrez Expands Into Personal Loans, Deepening Ties With Upgrade

The launch builds on a $1.5 billion loan investment relationship between parent Rithm Capital and Upgrade, extending Newrez's push beyond traditional mortgage lending

Nov 12, 2026
Better's Mortgage Volume Rises 15%, But Losses Persist

Better is targeting a bigger share of wholesale lending, with plans to expand into Non-QM and conventional mortgages

Nov 10, 2026
Strong Jobs Report Threatens Mortgage Rate Rally

October hiring more than doubled expectations, pushing Treasury yields higher

Nov 06, 2026
Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Oct 29, 2026
Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Oct 16, 2026
Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Oct 14, 2026