This workflow template illustrates the generation of past due borrower lists (including overdue balance amount, borrower contact information, etc.) and the subsequent borrower contact, loss mitigation (if the borrower is eligible) and payment collection tasks related to collecting on mortgage loans in default. Purchase and download this template in PDF and Visio (VSD) formats. You can customize it to fit your own organization, or simply use it to better understand the Default Loan Collections business process.
Related KPIs : 90+ DPD Loans as a Percentage of Loans Serviced, Amount Collected per Collections Employee, Loss Mitigation Success Rate, Mortgages in Collections per Loan Collector, Unit Cost: Default Loan Servicing
The Default Mortgage Loan Collections process involves coordination between customers (i.e., borrowers) loan servicing staff and collections team members to collect overdue loan balances (typically 30 or more days past due). This process includes the generation of a list of borrowers who are carrying past due balances, the pass-off of this list to the collections team and subsequent tasks related to collecting the past due balance or adjusting the terms of the loan to assist the borrower with payment (loan modification, deferments, etc.).
A: From real-world consulting engagements with Fortune 500 leaders. We’ve spent 25 years analyzing operations at hundreds of leading companies worldwide, documenting thousands of business processes at precise levels of detail. We’ve anonymized this data—drawn from millions of dollars’ worth of consulting assignments—and have made it available to you in easy-to-use templates at affordable OpsDog prices.
A: Boost productivity, efficiency, and service levels! Broken business processes—marked by manual workarounds, downtime, and errors—are all too common. Many businesses write off this waste as “the cost of doing business.” But you know better than that! Simply select the OpsDog Workflow Template that best fits your situation, tweak it to your liking, and then use it to train employees, identify process improvements, inform an IT project, or re-design a workflow. That’s a lot of power in your hands, cheap!
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A: Heck yes. Our analysts would be happy to provide you with a more detailed Workflow Template than what we offer for instant download. We can also develop an entirely new, customized Workflow Template to fit your business; we specialize in this stuff and would love to help you! Simply email us (email@example.com) or call us at 866.650.2888 and one of our friendly professionals will be happy to answer all your questions.
This workflow template illustrates activities that occur before, during and after a mortgage loan is foreclosed on, including the initial customer contact, property inspection and foreclosed...
Type : Workflow Template
Process Participants : Customers (Borrowers), Mortgage Loan Servicing Staff, Collections Staff, Property Preservation Staff, Foreclosure Sales Staff
This workflow template illustrates the review and documentation of deferment or forbearance requests from debtors. Purchase and download this template in PDF, Visio and PowerPoint formats, a...
Type : Workflow Template
Process Participants : Credit Counselor, Loan Servicing Specialist, Credit Consultant
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