Loan Servicing
SERVICES & SOLUTIONS
Our servicing experts have worked at hundreds of Financial Institutions using some of the most complex servicing systems in the industry and have experience modifying client systems as well as transitioning one system to another.
Currently, DEVAL maintains a state-of-the-art office with experienced employees who perform loan-servicing activities on a loan portfolio. Loan servicing activities include those financial and non-financial actions necessary to service the loan portfolio in accordance with all applicable governing laws, departmental policies, procedures, and regulations. The major activities include acceptance of assignment and title review, initial loan and escrow setup, accounting functions, payment collection according to the Fair Debt Collection Practices Act, payment disbursement, annual re-certification, foreclosure activities, bankruptcy activities, compliance monitoring, enforcement monitoring, and preparation and recording of releases/satisfaction of mortgages.
DEVAL is the only non-bank, Hispanic, woman-owned special loan servicer in the nation specializing in subservicing for residential real estate assets, primarily for Hispanic “high-touch” loans. DEVAL is an approved Servicer with Freddie Mac, a Non-Supervised Automatic Lender and Loan Servicer with the US Department of Veterans Affairs (VA), and a Nationwide Lender for the Single Family Housing Guaranteed Loan Program for the US Department of Agriculture (USDA).
DEVAL offers a range of mortgage loan servicing options, including: loan modification, loss mitigation, debt collections, and assistance in foreclosure and bankruptcy procedures. Given the current home and consumer market that public agencies and private financial institutions face, DEVAL can help these organization navigate the servicing of loan exposure. Our management team concentrates on preserving the value of the loan, limit losses and foreclosure actions on assets. Our group evaluates and provides recommendations to improve the value of the assets under management.
DEVAL Loan Servicing Platform ("DSP")
DEVAL offers its clients a proprietary, dynamic and comprehensive servicing system that provides integration and automation to service a wide range of loan products. DSP is a real-time fully integrated solution that provides clients with the ability to automate all areas of loan servicing and reporting, including loan boarding and maintenance, cash management and escrow administration, investor accounting, default management, compliance, electronic document management, and customer service.
DSP can meet all loan servicing needs for any size portfolio. This platform has been run in a production environment with hundreds of concurrent users and has been limit and load tested to over 1,000 users. Other production environments have included concurrent access and edits to over 200,000 records.
DSP allows multiple agents at different on-site locations to do servicing work, entering a wide variety of loan information, including borrower information, loan payments, default information, etc. In addition, imaged and other documents can be associated with each record for automated indexing and retrieval.
DSP facilitates every step of a loan’s life cycle from original application, approval and disbursement of funds, escrow processing, billing, payment processing, regulatory reporting, and eventual payoff or sale to other investors.