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Quick hit solutions for improving loan modification pull-through and stick rates Newark, DE – January 5, 2010: Bridgeforce, the Leading Consultancy in Credit, Collections, and Risk Management, has recently published a new position paper titled, “Making Mortgage Modifications Work” As the mortgage industry is saddled with unprecedented levels of foreclosures and credit losses, they are also under heavy fire for lower than expected loan modification volume, and high re-default rates. With no clear end in sight, mortgage holders and servicers are starting to re-evaluate the effectiveness of their strategies and loss mitigation processes, which were often established under tight timelines as mortgage defaults and foreclosures spiraled. In response, Bridgeforce has announced the first in a series of Strategy Briefs to address some of the key issues plaguing the mortgage industry. “Our first issue focuses on immediate solutions for improving loan modification, pull-through and stick rates” says John Savage, Bridgeforce CTO. “Our goal is to assist mortgage holders and servicers in establishing sound loss mitigation processes for stemming foreclosures and losses to enable them to quickly turn the corner in 2010”. For more on this topic or on other Bridgeforce services, please visit http://www.bridgeforce.com/distribute.asp?paper=Making_Mortgage_Modification_Work_FINAL.pdf or e-mail . About Bridgeforce, Inc. Bridgeforce is a management consulting firm that specializes in strategy, operations, and technology consulting services for credit products. Bridgeforce operates in the credit card, retail banking, mortgage/home equity, auto lending, small business, and insurance sectors with clients that include 7 of the top 10 U.S. banks and 4 of the top 10 global banks. www.bridgeforce.com |
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