DEVAL provides an effective and efficient centralized approach to servicing mortgagors who are experiencing bankruptcy.
Our servicing is well supported by our proprietary, scalable, integrated system that is explicitly designed to accommodate the complexities of the mortgage loan bankruptcy process. Our system meets all regulatory requirements, and all NIST 800-53 standards, which is the basis for the Federal Information Security Management Act (FISMA). Using electronic imaging and workflows, total document and case management are achieved in a secure and paperless environment.
Bankruptcy servicing includes the following:
With DEVAL LLC’s uniquely structured approach to administering bankruptcy for loans, we protect the rights of borrowers by ensuring collection activities are stopped in a timely manner. Upon conclusion of the bankruptcy, the borrower is promptly returned to active servicing or collections.
DEVAL is able to provide support to foreclosures of residential loan mortgagors by monitoring foreclosure filings on a loan level and supplying needed information to the investors, lenders and attorneys tracking the progress on a loan level as foreclosures are filed at the state or federal courts.
Foreclosure Monitoring includes:
Our team will work with investor and lender’s selected attorney and ensure that loan level information is updated and properly monitored. Loans will be set up in DEVAL’s loan servicing system and support process is started per state and federal regulations upon investor and lender’s written request. The Foreclosure process is for all sizes and types of Loans per State and Federal Regulations, including difficult private money, multi-investor, subprime.