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MSTD Inc. has teamed up with two mortgage insurers, Mortgage Guaranty Insurance Corp. and Radian Guaranty, to create a private mortgage insurance version of BackInTheBlack (BITB), MSTD Inc.'s Web-hosted loss mitigation software.
This allows any mortgage servicers using the BITB application to submit paperless loan workout proposals to MGIC and Radian on the BITB Web-hosted platform. MSTD says both the servicers and mortgage insurers can benefit from cost-savings by using the application.
MSTD said the initial phase of product rollout is complete. BITB allows MGIC and Radian to utilize the decision software and analytics with the respective economic interests of the mortgage insurers and investors.
"MSTD Inc.'s Web platform will save us time and money because it will facilitate oversight, communication, and ...