Questions buyers ask · Mortgage
How do mortgage servicers handle loss mitigation applications on time?
Loss mitigation applications stall when they arrive incomplete and the borrower is not told what is missing in time. Callvu acknowledges receipt and requests missing items within the 5 business days Reg X requires, chases each item from the borrower until the application is complete, and records every evaluation with who decided and why before writing the result to servicing.
The problem today
Why applications stall
Applications arrive by mail, email, phone and the portal. Each one is missing something: a pay stub, a hardship letter, a bank statement. Tracking the acknowledgment clock and the chase by hand means some borrowers hear nothing for days, and in an exam the servicer has to rebuild who asked for what and when.
How it works
How Callvu runs loss mitigationFive moves, one process.
Captured from any door
Every application starts the same process, and its clocks start on receipt.
Acknowledged within 5 business days
The borrower is told what was received and what is missing.
Chased to complete
Each missing item is requested on a clock, checked on arrival and chased until the application is complete.
Decided in the Decision Desk
Evaluations are made with the full case history, with who decided, why and when on the record.
Written to servicing
The decision and its evidence go to the servicing system.
Runtime enforcement
Compliance enforced while the work runsOn every step, every time.
Reg X timing and your own policies are checked on every step. A step that fails a control does not run. Every run produces a Decision Trace and an Audit Trace, so evaluation decisions can be defended in an exam.
Proof
Live in production.In weeks, not months.
Bank Leumi digitized every loan application and servicing workflow in six months.
Questions
What buyers ask next,answered plainly.
Does this cover notices of error and requests for information too?
Yes. Each request is captured once, its acknowledgment and response clocks start on receipt, and each response is stored with its evidence.
Do we need to change our servicing system?
No. Callvu connects to it by API and writes back to it.
Who builds and maintains the process?
Callvu builds it, trains your team and stays with you through launch and ongoing management.
Bring the process that costs you most.
We build it, train your team and stay with you through launch. You are live in weeks.