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"As the gains in business process improvement are clawed back by the extra steps and overhead of compliance, technology must ensure that it can achieve enhanced productivity, speed, auditability, and traceability." —Seán Ryan, Aspen Grove Solutions Keeping up with the range of documentation that touches the lender-borrow communication cycle requires adroit attention to detail. Xerox is also simplifying the process with BlitzDocs Servicing. Its eFolder, an electronic loan folder, as part of BlitzDocs Servicing, provides a single point of reference for all documentation used by the borrower. BlitzDocs' document management capabilities support lenders' and servicers' customer service requirements and default loan servicing, which helps meet the lengthy requirements set by the CFPB. Providing additional transparency, the BlitzDocs eXtended Edition can send important documents, namely solicitation packages and loss mitigation documents, directly to troubled borrowers. Minimizing Risk and Errors Aiming to reduce errors and risk in default loan processing, ISGN offers Tempo, a default management platform that links automation and vendor management functionality. The intuitive product readily provides processes for loss mitigation, REO, foreclosure, document management, and litigation. Tempo's workflow engine allows users to change or add tasks throughout the process, saving cost by scaling to timelines with real-time work assignments. All the while, both internal and external parties are kept apprised of changes with fully reportable communication. The platform is also fully compliant with Freddie Mac and Fannie Mae guidelines. While many large organizations have adopted compliance technology, smaller firms may be hindered due to the upfront cost of standardization software. Tempo's pricing is tiered by loan volume, says Cindy Walton, senior product manager of default products for ISGN, so even smaller companies can integrate the 48 software into their processes, thereby increasing efficiency and reducing the chance of costly human-calculated error. As the company's portfolio grows larger, the Web-based software will simply adjust to accommodate the increased property volume. Mortgage servicers must also ensure a high level of security for their clients as compliance requires strict standards of privacy. Capsilon, a provider of cloud-based document sharing and management solutions, released a new version of the DocVelocity Mobile app, which provides secure access to mortgage servicers from any location. To maintain a high level of security, documents viewed through the DocVelocity Mobile app are encrypted on the mobile device—so in the event the device is lost or stolen, vital information remains in a controlled environment. Secure authentication and access control settings are managed by the system administrator to make certain documents are viewed by authorized personnel. Bringing a neutral, nonprofit collaborative technology platform to borrower outreach, Hope LoanPort offers a consistent and transparent process to foreclosure alternatives—such as short sales and loan mods. The free program is available to delinquent borrowers across the nation. Homeowners who find themselves unable to meet their standard mortgage payments can use the platform to communicate with their HUD-approved housing counselor. Counselors and mortgage servicers will find the portal updated consistently in order to stay aligned with changing assistance programs. Hope LoanPort facilitates real-time messaging between a servicer and counselor, provides status tracking, and stores documents electronically. Without programs such as these, the U.S. Treasury's Making Home Affordable (MHA) borrower outreach and intake program would be difficult to implement. Clarifire by eMason, conceived by founder Jane Mason, is a Web-based workflow solution that automates the processes of compliance. One of its functions, Clarifire Community, serves to simplify single point of contact guidelines under HAMP. "It's an interactive gateway to workflow, creating collaboration and connectivity with others," said Jane Mason, CEO and president of eMason, Inc. Borrowers access the system and, if they're interested in a workout plan, for example, can set up a profile and input their needs. They then choose their preferred method of contact—phone call, text, or email—and the request is sent to the dashboard, where a bank or servicer can interact with them, if they so choose, via chat. The system also helps servicers keep up with borrowers by sending out document download notes. For instance, Mason says, if a borrower only downloaded three out of four necessary documents, Clarifire sends a text reminder to complete the process. One of the reasons for such automation is to ensure each borrower is treated like the other—and in the case of an audit, the system serves as proof that no disparate treatment exists from one borrower to the next. Code Compliance in the Field In addition to the numerous new compliance regulations, code compliance is still an important issue that helps reduce economic distress such as neighborhood blight. To that end, Safeguard Properties offers Compliance Connection, a Webbased tool that helps lenders identify at-risk properties in a neighborhood, which ensures an efficient resolution to the problem. By automating workflow and facilitating real-time communication, the platform helps property stakeholders avoid penalties by ensuring notifications and citations aren't overlooked or delivered to the wrong point of contact. "Municipalities can immediately post notices that are delivered electronically to the appropriate contact at the mortgage servicer, eliminating the delays and miscommunications associated with mailed notices," said Steve Meyer, assistant VP of high-risk and hazard claims for Safeguard

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