Foreclosure Response Team Releases New SPOC Compliance Tool – NMP Skip to main content

Foreclosure Response Team Releases New SPOC Compliance Tool

NationalMortgageProfessional.com
Oct 27, 2011

Foreclosure Response Team has announced the release of Simplor Version 7.0 and SPOC exponential, the latest and most advanced version of its default transaction management software. Simplor technology allows borrowers, title agents, real estate agents, attorneys, servicers, investors, and regulators to work together via a single platform in order to coordinate activities related to defaulted mortgage loans assuring new regulations are met within the mortgage industry. Scott Coloney, president and CEO of Foreclosure Response Team and software developer of Simplor technology, recently stated that Simplor has been in development and testing for more than and a half years. The company has had the assistance of Default Servicing Solutions, Stewart Default Services, select Exit, RE/MAX and Keller Williams Brokerages, as well as select local title agents and law firms across the country. With the release of Simplor Version 7.0, the company's technology now gives surety that the nation’s largest investors and servicers maintain compliance with newly established U.S. Treasury regulations, while simultaneously delivering a streamlined solution for borrowers, real estate agents, title agents, attorneys, and others involved in mortgage servicing. Mortgage investors and servicers are provided a processing work station, real-time reports and easy access to loan level default management processes. “We started developing our complex copy written technology around a single point of contact for short sales almost four years ago," said Coloney. "A short sale is hands down the most complex default transaction, so when default, loan modification and deed in lieu were added three years later in Version 7.0, Simplor already had the complex foundation. The hard part had been completed in versions 1.0-6.0. Foreclosure Response Team is established and more than prepared to support the implementation process with mortgage servicers.” Simplor generates automated e-mail notifications delivered instantly to all relevant parties, provides proper users with secure access to required forms and documents online, scores individual users for performance/turnaround time, and automates tracking of all document requests. All communication, document collection, and processes are streamlined in individual electronic files within Simplor enabling Single Point Processors to work efficiently while maintaining a high level of customer service and quality control.
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