With the release of ML 2016-14, and a target compliance date of December 1, WaterfallCalc.com is ready to go! As always, WaterfallCalc.com was geared up for the new guidelines based on the original compliance deadline date.
WaterfallCalc.com partnered with MRG Documents to provide fully integrated loan modification and partial claim/subordinate mortgage and notes. The documents are in recordable format for all jurisdictions nationwide, and integrate the calculations for the loan’s eligible option.
The mortgage servicing industry is in a constant state of progressive change. Because of this, WaterfallCalc is designed to reduce staff training and processing times, and human error. With minimal data-entry required, the WaterfallCalc system immediately provides an analysis that includes calculations for each home retention option, and an explanation for each option for which the borrower is ineligible.
WaterfallCalc.com is in the process of adding the escrow analysis option, along with the waterfalls for other guarantors, such as Rural Housing and VA.
DLS Servicing Consultants, LLC partnered with Worksmart Database Masters, LLC to produce the most time-efficient, cost-effective method of processing FHA Loss Mitigation files.