Company Adds Radian Guaranty's Eligibility Requirement Rules to Software
FALLS CHURCH, Va., April 23 /PRNewswire/ --
CSC (NYSE:CSC) today announced that it is expanding its industry-leading default management software-as-a-service, EarlyResolution, to include mortgage insurance eligibility requirements from Radian Guaranty of Philadelphia, Penn. Radian's Fast Advance Program helps distressed homeowners by accelerating claims to cover a portion of outstanding delinquencies owed to mortgage servicers once certain requirements are met.
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With more than 40 percent of the mortgage servicing industry using EarlyResolution, Radian's Fast Advance rules are now accessible to thousands of servicers and counselors when determining workout solutions for homeowners in default. Incorporating this information into the system enhances process efficiency and is designed to help reduce loss mitigation decision and approval cycle times and speed loan workouts.
"We chose EarlyResolution because it addresses many of the challenges servicers and insurers are currently encountering," said Camillo Melchiorre, senior vice president, Loss Management, Radian Guaranty. "By integrating FastAdvance's business rules into EarlyResolution, we are offering servicers an innovative loss mitigation alternative without placing an additional operational burden on their already strained resources. The ability to seamlessly access accurate, up-to-date information will aid all of us in the reduction of foreclosures."
"With EarlyResolution's growing share of the loss mitigation market, we continue to actively seek new ways to enhance its value," said Kevin Schlumpf, managing director of the EarlyResolution practice within CSC's Financial Services Group. "EarlyResolution offers a common platform that can increase the transparency of complex workout rules and bring together mortgage servicers, non-profit counseling agencies, third-party loss mitigation experts and now mortgage insurance companies to process more workouts, help more borrowers and reduce credit losses."
About Radian Guaranty
Radian Group Inc. (NYSE:RDN), headquartered in Philadelphia, provides private mortgage insurance and related risk management products and services to mortgage lenders nationwide through its principal operating subsidiary, Radian Guaranty Inc. These services help promote and preserve homeownership opportunities for homebuyers, while protecting lenders from default-related losses on residential first mortgages and facilitating the sale of low-downpayment mortgages in the secondary market. Additional information may be found at http://www.radian.biz/.
About CSC
CSC is a global leader in providing technology-enabled solutions and services through three primary lines of business. These include Business Solutions & Services, Global Outsourcing Services and the North American Public Sector. CSC's advanced capabilities include systems design and integration, information technology and business process outsourcing, applications software development, Web and application hosting, mission support and management consulting. Headquartered in Falls Church, Va., CSC has approximately 92,000 employees and reported revenue of $17.1 billion for the 12 months ended Jan. 2, 2009. For more information, visit the company's Web site at http://www.csc.com/.
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Web Site: http://www.csc.com/
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