July 28, 2025
GRAND RAPIDS, Mich. – July 28, 2025 – WaterfallCalc, a provider of automated loss mitigation tools for mortgage servicers, today announced that The Servion Group has implemented WaterfallCalc+, the borrower-facing version of its popular loss mitigation analysis tool. A credit union service organization that services about 60,000 loans, Servion’s implementation of WaterfallCalc+ comes as many mortgage servicers begin preparing for new FHA loss mitigation rules that take effect in October.
Servion has been a WaterfallCalc client since 2022. The CUSO chose WaterfallCalc+ to better reach distressed homeowners and make it easier for them to get help with their mortgages. With WaterfallCalc+, homeowners can securely apply for loss mitigation assistance through their phone, tablet or PC, making it more convenient to access relief on their own schedule.
WaterfallCalc+ dynamically adapts to each loan’s investor or insurer—including FHA, Fannie Mae, Freddie Mac, VA or USDA—and guides borrowers through the application process in a compliant, user-friendly interface. The tool enables servicers to modernize their loss mitigation workflows and easily navigate changes in reporting, documentation and borrower communication requirements.
“With new FHA rules going into effect this fall, it was the right time to upgrade,” said Andrea Larson, servicing manager at The Servion Group. “WaterfallCalc+ gives us everything we need to stay compliant, but more importantly, it gives borrowers a faster and more convenient way to get help when they need it most.”
“Like many servicing organizations, Servion recognized that the old way of managing loss mitigation—mailing documents, chasing responses by phone—just isn’t sustainable,” said Donna Schmidt, founder of WaterfallCalc. “By adding WaterfallCalc+, they’re giving borrowers a much easier way to ask for help, and giving their team a more efficient way to deliver it.”
WaterfallCalc’s flagship application gives mortgage servicers an affordable way to calculate the appropriate loss mitigation option based on insurer and agency requirements while eliminating cumbersome manual processes. WaterfallCalc+ integrates directly with the WaterfallCalc platform, enabling a seamless workflow from borrower application to decisioning.
Servicers can invite individual borrowers or a group of borrowers to use WaterfallCalc+, where they can safely log in and communicate with the servicer in an easy, transparent manner. After a borrower’s options are identified, servicers can manage the entire loss mitigation process—from ordering title reports to creating modification and subordinate mortgage documents to preparing FHA incentive claims.
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About WaterfallCalc
WaterfallCalc is a leading provider of loss mitigation analysis technology for small and mid-sized mortgage servicers. The company’s affordable, easy-to-use solutions enable servicers to streamline their default processes and stay compliant by quickly and accurately calculating the best loss mitigation options for distressed borrowers. WaterfallCalc’s cloud-based technology, WaterfallCalc+, enables servicers to help borrowers who apply for assistance directly from their mobile device, tablet or PC while tracking the loss mitigation process. The company’s solutions are integrated with Fannie Mae’s Servicing Management Default Underwriter and Freddie Mac’s Resolve. WaterfallCalc is based in Grand Rapids, Michigan. For more information, visit www.WaterfallCalc.com.
About The Servion Group
Based in the Twin Cities, The Servion Group was founded in 1987 by three Minnesota credit unions wanting to offer competitive mortgage products. Today, we are co-owned by 53 credit unions and support nearly 500 credit unions and community banks across the country via solutions spanning mortgage, title, realty, financial advisory, and business lending, delivered through a staff of more than 270 employees. For more information visit www.MyServion.com.
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