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Product: |
LenStar™ --a BridgeLink™ Network Service Offering |
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Company: |
FICO |
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Type: |
Service |
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Description: |
The LenStar network provides access to lenders and attorneys servicing over 50% of the residential loans in the US. Over the past three years more than 1.5 million default cases have been managed by the LenStar system, with savings to the mortgage industry of more than $2.36 billion dollars. LenStar customers realize an average savings of $1,500 per case and can expect their carrying timeline to be reduced by an average of 45 days per case, and sometimes by as much as 180 days. LenStar gives lenders the ability to work with attorneys and trustees of their choice. It is intuitive to use and interfaces with all major mortgage loan-servicing platforms. You share foreclosure and bankruptcy loan information from the desktop reducing the need for telephone calls, faxes and shipping. LenStar also automates the ordering of title, AVM and BPO evaluations. Paperless referrals take a fraction of the time customarily required, in addition to eliminating mail cost, copier cost and filing. Timely turn-around reduces risk, improves customer satisfaction, and reduces the accrued daily interest and overall loan servicing costs.
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Related Products: |
Legal Services Industry | Mortgage Industry | Online Financial Services |
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