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NAVIGATING LOSS
MITIGATION IN
A LOW-DEFAULT
LANDSCAPE
Denis Brosnan is
President and CEO of
DIMONT, a provider
of technology-enabled
solutions in specialty
insurance claims processing
and collateral loss mitigation management
for mortgage and auto lenders, servicers, and
investors.
A leader with deep experience guiding
technology and technology-enabled service
providers through various lifecycle phases,
Brosnan spoke with DS News about 2019's
challenges and lessons, from updates in
technology to fluctuations in default volume.
What industry challenges and trends have
defined 2019 from your perspective?
For most servicers and vendors in the default
space, the volumes continue to be the biggest
challenge. e implications of historically low
volumes are that most servicers are trying to
cut costs. Most service providers are trying
to do more with less. ere has been a lot of
consolidation in the industry as portfolios have
moved from one servicer to the next. For most
businesses, that's a challenge.
HOW DOES THE AUTO FINANCE MARKET COMPARE TO
THE MORTGAGE BUSINESS? ARE THERE LESSONS YOU
CAN CARRY OVER INTO THE MORTGAGE SPACE? ere's
commonality. It was challenging early on to
branch into a different market segment, but
many of the ways you go about doing business
and building relationships are analogous. We
got into that space (specifically repo claims)
because in our core business in mortgage and
hazard insurance claims there's an analogous
situation: we're recovering insurance claims
from distressed or damaged collateral. e
challenge that we didn't understand going
into the auto space was just how fractured
and fragmented the data environment is for
insurance information.
WHAT ARE SOME OF THE CHALLENGES THAT YOU ARE
ENCOUNTERING WITH FHA LOANS? FHA, from an
investor claim standpoint, continues to be one
of the biggest challenges in the marketplace.
e process is long, convoluted, arduous, and
fraught with errors and technology deficiencies.
If you make a mistake, it becomes expensive
