Equator announced the launch of Loan Management, a comprehensive new compliance and decision tool for delinquent loans. Loan Management works in conjunction with the Equator platform, the most widely adopted default servicing technology and the de facto industry standard.
Servicers use Loan Management to control critical decisions and calculations at both a portfolio and loan level, and to enhance compliance through centralization. Loan Management is the entry point for any loan entering the Equator Platform, so servicers can proactively manage compliance on every loan from the instant it enters the system. They can also use Loan Management’s powerful analytics to determine the optimal outcomes for each loan based on its own unique characteristics.
Loan Management is an evolution of Equator’s Loan Segmentation technology, and is built on Equator’s next-generation, flexible enterprise rules engine. Fully configurable, the system integrates compliance requirements and rules from all of Equator’s other default products, as well as any client-configured rules, which combine to provide the most comprehensive verification process available. Loan Management is fully compatible with legacy platforms and comes pre-configured with Equator’s best practice solutions, based on millions of decisions and years of experience.
Once a loan is entered in the Equator platform, Loan Management checks it for compliance with a number of guidelines and regulations including those set forth by state and federal government entities, investors and the CFPB. After all compliance requirements are identified and met, Loan Management then analyzes all possible outcomes for the loan, determines the option that will most minimize loss, and recommends that optimal outcome decision to the user. Loan Management also acts as a “control tower,” assigning loans to proper outsourcers, individuals or teams.
“As rules and regulations become more and more complicated, servicers are being faced with more and more challenges,” said John Vella, COO. “Our clients have asked for ways to ensure they’re compliant, and we’ve created Loan Management in response to those requests. Loan Management is the soup-to-nuts solution that helps servicers stay compliant and profitable. While no two loans are identical, Loan Management provides a configurable framework for comprehensive, accurate evaluation.”
“Using Loan Management, servicers can quickly and reliably evaluate loans to alleviate compliance concerns at the beginning of the process,” said Equator CEO Chris Saitta. “Applying the appropriate rules at the beginning of the default process can save time on the backend, and reduce the overall cost to service.”
