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Venture Encoding says that its mail tracking service can help mortgage servicers reduce collection calls by up to 12%.
The company said its mail tracking service eliminates the need for some collection calls by electronically monitoring the progress of payments made through the postal system.
Venture then provides lending institutions with daily information detailing which borrowers have already submitted payment. The information can be presented online or in electronic document format and cross-referenced with the collection call list to eliminate calls to those who have mailed payments.
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