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New Strategic Loan Modification Programs launched for two Top 5 US & UK Mortgage Lenders Newark, DE – February 16, 2009: Bridgeforce, a leading consultancy in credit, collections, and risk management, announced the successful launch of two strategic loan modification programs for a Top 5 US Mortgage Lender and a Top 5 UK Mortgage Lender in the past 30 days. The US program enables the lender to identify, contact, and pre-emptively treat “at-risk” first mortgage borrowers before they become delinquent. The program includes the use of targeted segmentation, advanced communication channels, a treatment decision support tool, and specially educated representatives to identify and treat “at risk” candidate accounts. The program was launched in conjunction with Bridgeforce’s technology partner, Collections Marketing Center, Inc. (“CMC”) using their patented FlexCollect(sm) Multi-Channel Platform to maximize customer response and qualification in less than 60 days after engaging with the client. The UK program establishes the foundation needed to address the challenges of the housing and employment situation in that market. The program includes the use of targeted treatment strategies that reduce foreclosures and losses, an advanced treatment decision support tool, and a custom training program to help representatives improve their assessment of the customer’s financial condition. “Effectively dealing with the real estate crisis requires a seachange for mortgage collections. The good news is that through our experience and the hard work of our client we were able to launch the new capabilities, with all of the related operational and policy changes, in less than 60 days” said Matt Scarborough, Managing Director of Bridgeforce’s international practice. “The speed and magnitude of changes in the lending markets has caught even the most forward thinking organizations unprepared for the volume and severity of customers that need help,” says Dawn Willey, Bridgeforce CEO and Founder. “Our team is committed to helping lenders both re-engineer their internal collections and loss mitigation practices and rapidly implement solutions that will quickly identify and treat “at risk” customers before it’s too late. While not everyone is ultimately treatable, these programs will make a dramatic difference to the bottom lines of our clients and the lives of many of their customers.” For more information on the programs described above or about other Bridgeforce services please visit www.bridgeforce.com or contact us directly at . 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 About Collections Marketing Center Collections Marketing Center (CMC) pioneered the industry’s first fully integrated, multi-channel, adaptive collections service to maximize cost-performance. The FlexCollect platform combines advanced technology, a marketing focus and responsiveness to changing consumer behavior to optimize results for creditors in their credit risk and default management operations. CMC easily customizes applications to process many types of debt, including but not limited to credit cards, auto/RV loans, home equity loans, mortgages, healthcare receivables, telecom and utility bills. For more information, visit www.CollectionsMarketing.com |
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