LOSS MITIGATION & RECOURSE RECOVERY
A critical core competency of RRMS is the performance of diagnostic analysis on servicer operations in order to maximize asset performance and reduce loss severities relating to:
- Residential Mortgage Servicing Practices and Compliance;
- Commercial Mortgage Servicing Practices and Compliance; and
- Consumer & Home Equity loan Servicing Practices and Compliance.
- Servicing Surveillance and Portfolio Loss Mitigation Strategies;
- Creation and execution of audit plans;
- Performance of workflow and process analysis:
- Mapping foreclosure timelines,
- Bankruptcy and REO procedures, legal document compliance and associated timelines, and
- Related GAP analyses.
- Utilization of proprietary processes to develop indefensible fact based opinions to support loss mitigation strategies;
- Assessment and mitigation of recourse exposure, and establishing the infrastructure necessary to assess related exposures;
- Designing iterative approaches to settling recourse exposures that encompass use of specific strategies which will be phased and transitioned as necessary (these approaches are not mutually exclusive);
- Developing strategies based upon client objectives to mitigate potential civil and criminal liabilities;
- Performing detailed forensic reviews, as necessary, and
- Providing concise breach summaries to substantiate or dispel:
- The validity of loan put-back claims,
- Related damage claim assessments,
- Insurance claims, or
- Other fiscal claims or disputes.