Exact Mortgage Servicing says it has improved its mortgage servicing platform by adding real-time credit data.
The mortgage servicing and asset management business says the move provides its collectors with access to live credit data and analytics, which in turn allows them to review in real-time borrowers’ spending habits.
For example, if a borrower claims that they can’t pay their mortgage, but are spending money on non-essential items, this can be discussed with the help of real-time credit data. Exact claims the ‘intelligence’ also facilitates the agreement of realistic and affordable repayment solutions whilst treating borrowers fairly.
“It is important that we invest in the best technology in order to improve our intelligence and expertise not only to help borrowers who find themselves in a difficult situation but also to protect our clients from arrears and ultimately losses,” said Ian Lonergan, CEO of Exact.