Minimize default rates and maximize borrower retention.

Mortgage servicing is at the core of loan profitability. Your ability to ensure that loans perform and default rates are kept to a minimum is critical to your business. Tavant Mortgage Servicing Solutions can get you there through systems that enable efficient processes for loan boarding, cashiering, escrow, customer care and payoffs. Furthermore, Tavant's default management solutions can help you work delinquencies more effectively. You raise investor confidence through low default rates and repeat business from delighted customers, and optimize the profitability of your mortgage business.

Until now, the few available servicing systems presented two problems. They were not integrated to provide end-to-end default functionality. And they were antiquated and not flexible enough to meet growing business needs and fast feature implementation. Tavant Mortgage Servicing changes all this. Tavant's servicing platform and portfolio of pre-built components provide a foundation for rapid enhancement of existing servicing systems, in particular for critical default and bankruptcy management functionalities, and even the rapid development of an end-to-end servicing system.

• Loan Boarding: Board loans from your Loan Origination Systems using platform-independent XML data exchange into a reliable, high-performance Loan Servicing Repository. Includes Loan Data Validation to avoid critical errors and Unfund/Refund processes.
• Cashiering Management: Receive and process payments efficiently. The payment processor handles different payment methods including web, IVR, lock box and manual payments. Components include Billing, ARM Plan Management & Amortization, Payment Processing, Late Fee, Reversals and Suspense Management.
• Escrow Management: Manage all taxes and insurance using configurable state based rules. Provide real-time and batch interfaces to tax and insurance vendors. And eliminate manual processing. The module provides sophisticated escrow analysis and comparison tools and also enables proactive re-calculation after escrow disbursements. Includes Escrow Account Setup, Escrow Analysis, Interest on Escrow, and Escrow Disbursements.
• Tavant Customer Care System: Provides key borrower, loan and property information. Detailed loan search helps the customer care executive see information on loan history, payments and reversals, amortization, corporate advances, delinquency, disbursement and billing to help service the customer better.
• Loan Portal and Electronic Payment Processor is a web-based version of the Tavant Customer Care System. It allows Web-savvy borrowers to manage their account and make electronic payments.
• Default Management: Manage the life cycle of a delinquent loan from Collections to Real Estate Owned (REO) to reduce default losses and maintain high savings over REO. Includes Collections, Loss Mitigation, Foreclosure, Bankruptcy and REO. Ensure that your collectors dial highest risk borrowers first and have the right tool to work with delinquent borrowers to establish payment or payment plans. The Default Suite also comes with a Property Manager (Inspections, Appraisals, Property Preservation, Vacancy Management and Code Violations) and a Claims Processor.
• Payoff Management: Manage the entire payoff process from generating the quote to the payoff processing. Includes Payoff Quote Generator to generate payoff quotes and amended payoff statements based on effective dating and specific loan conditions, and Payoff Processor to calculate prepayment penalties and process payoffs after payments are received and posted.

Other support systems that manage PMI, Optional Insurance, Investor Remittance and Customer Correspondence complete the Tavant Servicing Solution. From the first payment through payoff, the Tavant Servicing Solution suite offers better customer management capabilities while improving investor confidence, enhancing associate productivity and reducing costs.

Increase borrower and investor satisfaction, and raise profitability, through better servicing capability