Transforming collections and loss mitigation: Tackling the new realities

Today's economic climate forces mortgage servicers to rethink their collections and loss mitigation strategies. They face ever-increasing political, social, and internal pressures to preserve homeownership and prevent foreclosures. Compounding the problem, the traditional approach to collections uses inconsistent practices and outdated policies. It is no longer effective in allowing servicers to recover debt.

It’s time for a new strategy — one that meets the challenges of today's economic climate with proactive, innovative solutions for collections and loss mitigation. In this whitepaper we discuss steps servicers can take to transform their approach to collections and loss mitigation.