Press Releases

WaterfallCalc.com Releases Online FHA Waterfall Analysis Program to Assist with FHA Loss Mitigation

September 10, 2013

Grand Rapids, MI – Michigan based companies DLS Servicing Consultants, LLC and WorkSmart Database Masters, LLC announced today that they have released an online, web-based FHA Waterfall loss mitigation program, WaterfallCalc.com. The program, created to follow the guidelines of the most recently published FHA Mortgagee Letters, provides FHA servicers with the correct FHA Waterfall option and all workout calculations with the entry of basic loan and borrower data. WaterfallCalc.com creators expect the WaterfallCalc.com program will highly improve efficiency and accuracy for all FHA loss mitigation and will drastically reduce processing times.
WaterfallCalc.com is a unique program designed for ease of use and with servicing shops of all sizes in mind. The program’s added value comes in the form of the calculations it can perform, including HAMP calculations complicated by previous partial claims and high front end debt ratios. Additionally, the program allows for FHA approved variances unique to Housing Finance Agencies.
By providing basic loan level data including default information, borrower income calculations, and escrow analysis calculations, the WaterfallCalc.com program chooses the correct loss mitigation option based on FHA parameters, and performs the calculations for the workout. The waterfall review and full FHA loan report is saved by individual user and can also be sent to a specified e-mail. With prices based on a per-file basis, WaterfallCalc.com provides an affordable option for FHA loss mitigation.
More information on the WaterfallCalc.com program is available on the program’s website, www.waterfallcalc.com.

About WaterfallCalc.com

WaterfallCalc.com was created by Donna Schmidt, Managing Director of DLS Servicing Consultants, LLC and Andy Tabisz, President of WorkSmart Database Masters, LLC to accommodate the need for fair and consistent FHA loss mitigation. Donna Schmidt brings over 30 years of experience in the mortgage default industry. With DLS Servicing Consultants, LLC specializing in loss mitigation reviews, short sale/deed-in-lieu processing, and mortgage servicing consulting, Schmidt recognizes the current need for a program that handles FHA loss mitigation proficiently and accurately. Partnering with Andy Tabisz of WorkSmart Database Masters, an established database programmer, WaterfallCalc.com was created to meet the demand of processing FHA Loans under the current, more complicated FHA Waterfall guidelines. WaterfallCalc.com is an affordable, user-friendly program designed to meet the needs of all FHA mortgage servicers.

Contact

To learn more about the WaterfallCalc.com program and to begin a 24 hour no-cost WaterfallCalc.com trial, please contact:

Donna Schmidt, Co-creator
5035 Plainfield Ave.  Suite B
Grand Rapids, MI  49525
Office: (616) 570-0199
Fax: (616) 805-4260
Availability: Monday-Friday, 9:30am-5:00pm
DSchmidt@waterfallcalc.com
www.waterfallcalc.com

Brandi Tankersley, Account Executive
5035 Plainfield Ave. Suite B
Grand Rapids, MI 49525
Cell: (616) 406-4310
Availability: Monday-Friday 8:00am-5:00pm

BTankersley@assistanceoptions.com

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