Intelenet Global Services, a leading provider of business process outsourcing (BPO) support services for the mortgage banking industry, announced that it has partnered with SigniaDocs Inc., an eMortgage solutions provider, to offer a comprehensive, scalable eModification solution for lenders and servicers. This online, real-time approach compresses the loan modification process to identify and collect the required documents into a “Mods in Minutes” solution.
“The HAMP modification program has only reached a small fraction of the distressed borrowers it was intended for,” says Robert Guatelli, vice president of sales for banking and financial services at Intelenet Global Services. “It is still far short of the Obama Administration’s goal of helping millions of homeowners that are in danger of losing their homes.”
Guatelli notes that “Mods in Minutes” became a reality using SigniaDocs’ Web-based capability that ties in portfolio analysis, loan decisioning and automated verification partner technologies to drastically condense the time frames normally required to create optimal modification scenarios. With the addition of SigniaDocs’ compliant eModification services for eSignatures and eDocuments, the process can literally become a “Mod in Minutes.” Without the eModification capability, modification agreements must be created on paper and sent via courier to borrowers, who often never execute the documents--resulting in failed mod attempts.
“Using SigniaDocs’ eModification, borrowers can execute the documentation immediately and securely online,” Guatelli says. “Immediacy is the key, and our loan workout specialists can walk them through the click-to-sign process on the phone. Within minutes,” he says, “the mod can be completed.” Intelenet Global Services works closely with distressed borrowers as a seamless extension of the lender’s or servicer’s staff, from initial contact to identifying and recommending viable workout options, as well as completion and execution of agreements and documents.
Tim Anderson, president of SigniaDocs, notes that Intelenet’s expertise in outsourced support services and process automation technology combines with SignaDocs’ secure eSigning capability and eModification documents to make the “Mod in Minutes” possible.
“Nearly every servicer I’ve spoken with has said that their number one challenge is getting documents completed and executed in a timely manner,” said Anderson. “With the size of the task at hand, it seems logical to me that strained lenders and servicers would outsource these functions to quickly scale and address the problem, rather than throwing people and paper at the process. From a true cost and efficiency perspective, our partnership with Intelenet Global Services provides a best of both worlds approach.”
For more information, visit www.IntelenetGlobal.com or www.SigniaDocs.com.