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Stavvy’s Loss Mitigation Solution Provides A Best-In-Class Experience For Homeowners And Servicers

Stavvy’s Loss Mitigation Solution is a fully customizable and mobile-friendly platform. Homeowners and servicers can complete all necessary tasks — from upfront application and processing to final document execution — for faster resolution and increased pull-through.

Stavvy provides a best-in-class experience for both homeowners and servicers to manage the loss mitigation process. Distressed homeowners looking for mortgage assistance can apply, check status, provide supporting documentation, accept a workout, and sign and notarize documents from one intuitive self-service portal in the Stavvy Platform.

Servicers can use the solution to process and determine eligibility quickly in real-time, gathering and leveraging a customizable eligibility engine to support all government, GSE and private label investor waterfalls.

The Stavvy Loss Mitigation Solution was built from the ground up to provide a best-in-class user experience for both homeowners and servicing staff. The platform is mobile-friendly and intuitive, empowering homeowners to own more of the mortgage assistance process and eliminating the stovepipes and fragmentation common in most servicing and loss mitigation systems.

It’s also built to be flexible and customizable, enabling servicers to take advantage of the processing efficiencies inherent in the system while minimizing impacts to the team. Servicers can adapt to meet any regulatory update or market condition. Rules for the eligibility engine can be updated in hours, not weeks or months. Tasks and workflows can be easily updated to accommodate staffing or portfolio updates, giving servicers the flexibility they need to support changing business conditions and the ability to better manage variable costs.

On the homeowner side, the portal features several unique integrations that significantly simplify the mortgage assistance application process. Geocode integration with FEMA automatically identifies potential disaster eligibility and streamlines the application process based on the subject property address. Plaid integration allows the homeowner to submit payroll and financial information directly from their payment provider and financial institution, eliminating the need to upload multiple paper documents and significantly reducing the likelihood of providing incorrect information.

Ultimately, the Loss Mitigation Solution provides full transparency and visibility to all participants. Data, documents and eligibility decisions are always available in real-time and maintained in one place for all stakeholders. Every action, note, document, eligibility decision and task is tracked and available in a uniform audit trail to fully support all regulatory and investor timelines and guidance.

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