WaterfallCalc.com assists mortgage servicers with choosing the best loss mitigation option and performs all calculations based on the most current Loss Mitigation Guidelines. It can be used equally as a real-time loss mitigation analysis tool, or can be used to review past loss mitigation options for situations pertaining to servicing audits, servicing transfers of loans in a default status, and due diligence exercises.

WaterfallCalc.com follows the Loss Mitigation Waterfall guidelines for FHA, VA, and Rural Housing, and also the most recent addition, GSE Flex Mods. All steps are followed according to the most current agency guidelines, from the application submission, until the loan qualifies for an option or fails other qualification criteria, performing the analysis and calculations for the best option. The software is exceedingly flexible, allowing for individual clients to customize features to meet the specific needs of their systems and customers.

WaterfallCalc.com allows the user to consider borrower contributions to the delinquency, prior to actually applying the funds to the account – this is especially useful during mediation hearings or when determining whether a foreclosure should be postponed. The system further offers management overrides for certain key underwriting requirements when variances are granted.

WaterfallCalc.com is extremely intuitive, allowing the user to click on an information link within the calculator to clearly understand what is needed for each field. This drastically reduces staff training time. The typical processing time is under 10 minutes if being manually input. The system also offers the ability to accept imported loan data, ensuring the accuracy of data entered and reducing the time necessary to process a review. The typical time to enter loan data is 10 minutes, using the import feature cuts this time in half!

When WaterfallCalc.com has completed its analysis and calculations, it produces two reports. The first report walks through the entire waterfall of home-retention options, and clearly summarizes why each option either passed or failed. This report is exceptionally important because it satisfies agency requirement to document that each loss mitigation option was considered in order, and why it was or was not used. The second report provides a highly detailed summary of the option that passed, and the calculations used to produce the positive result. Both reports are produced in PDF format that can be emailed to anyone the user prefers, and can be imaged or attached to the loan level file as evidence of agency-required compliance measures.