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Technology: Alltel Will Offer Access to MSTD's Default Counseling Technology.(Brief Article)
Users of Alltel's mortgage servicing package now have access to BackInTheBlack - a Web-based collection and loss mitigation application.
BITB, a service of MSTD, Baltimore, is a rules-based application that pre-qualifies borrowers for foreclosure alternatives based on secondary market requirements. It will be integrated into Alltel's MaxMilion Default application to increase efficiency for mortgage servicers.
Bob Spector, vice president of business partners for Alltel, said that BITB provides automated workflow starting from the first time a borrower is contacted regarding a foreclosure situation - a process that will "increase efficiencies within the default arena resulting in significant cost savings for servicers."
The partnership also offers a data exchange between Alltel's Mortgage Servicing Package and BITB to support lenders that have not implemented MaxMilion Default.
Hans Rusli, CEO of MSTD, said Alltel's strategy of offering its services through Internet-based portals aligns perfectly with MSTD's goal of connecting service providers on one platform.
BITB (www.bitb.net) is used by mortgage ...
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