Private Label Securities Underwriting System
axsysTek worked with a Global Mortgage Bank to develop a Forensic Underwriting Recovery System to automate the mortgage loan loss mitigation process.
Business Challenge
Forensics recovers losses of mortgage loans in the non-agency PLS book by identifying breaches of representations and warranties, and pursuing securities law claims, on investments held in a multi-billion dollar portfolio. Process was manual, used data and reports across systems and key-person dependent.
Solution
Develop a Salesforce.com Underwriting Loss system using Force.com components to manage, track and report thousands of loan reviews, findings, and claims. Solution stores data on RMBS Deals in portfolio including Deal data, documents, Loans per Deal, and Loan level data for Loan File Reviews.
Benefit
CRM application tracks, manages and reports on forensic and underwriting activities conducted by Capital Markets Risk Management and the Underwriting teams, and serves as system of record for PLS repurchase claims. Directly supports FHFA's goals to manage PLS repurchase claims.