Executive Summary
Platform Components
Grid Financial Services, Inc. is a Business Process Outsource firm located in Raleigh, NC. Grid Financial has a national footprint servicing
25+ banks, private equity firms, mortgage origination platforms, and servicing companies. On the loan origination side of our business,
Grid Financial provides outsourced loan processing, underwriting and closing services. In addition, Grid Financial is your outsourced
default services department, providing full Home Affordable Modification Program (HAMP) and non-HAMP modifications, short sales,
deeds-in-lieu and all manner of default services.
Origination Fulfillment
On the mortgage fulfillment side, Grid Financial’s services include a mortgage origination fulfillment platform with staff processors,
underwriters and closers, which allows us to offer complete front end services ranging from file audit, document collection, processing
with complete customer/client interaction, file underwriting to include Direct Endorsement and LAPP , complete closing services, post
closing audits, trailing document management and direct investor shipping. These services can be retained as a complete solution or
on a customized level of service.
By choosing Grid Financial, you are able to access any piece or an entire custom solution to meet your needs. With the availability of
short term engagements, your turn times should always stay where you want them. Why risk the additional hedge and lost revenue
exposure of a 60 to 90 day lock period, when you can have expert plug-n-play support on very short notice?
Grid Financial gives you elasticity to your front end sales functions which allows you to concentrate on your customer’s needs. Grid
Financial allows you to avoid the tremendous expense and reputational damage associated with big fluctuations in headcount.
Always enjoy a modest and predictable cost to originate. The economies of scale become your ally when we add staff to your
dedicated team as needed. The ability to move floaters on and off your team allows us to keep your requirements met and you avoid
fulltime staff expenses and training.
Platform Components (cont.)
Loan Modification/ Loss Mitigation/Default Services
Grid Financial offers a complete loss mitigation/default services process that allows a client to assign any loan that is currently 31 days
delinquent or greater to Grid Financial and the borrower will be put into our aggressive program take the borrower through the entire
loss mitigation waterfall all the way through to REO liquidation, if needed. We specialize in HAMP and non-HAMP modifications, short
sales (HAFA or non HAFA), deeds-in-lieu, cash for keys, foreclosure filings and reporting, bankruptcy reporting, portfolio risk analytics
and property valuations. With our management’s deep experience across the entire loss mitigation/ risk management spectrum, we
consult regularly with our clients on overall strategies.
Our loss mitigation platform provides an aggressive customer (right party) contact program that involves mail, express mail, phone calls
(after hours and weekends) to field services. Our program provides for real time updates on the occupancy and condition of your
property. We provide property pictures on every visit.
Grid Financial will evaluate delinquent and Imminent Default borrowers for HAMP and complete the entire modification process for
you, including all requisite reporting. We can even take care of the monthly reporting requirements after final modifications are
completed. For borrowers who not qualify for HAMP, we will process them for alternative modifications, short sales, deeds-in-lieu
(HAFA or non-HAFA) and will even facilitate the foreclosure process on your behalf.
Our property preservation group will give you peace of mind, knowing that your property is not suffering needless price decay due to
neglect. We will keep your vacant properties code compliant based on each MSA. We provide a consolidated billing structure that is
itemized by time and service provided. So if you need the landscaping taken care of on a jumbo property, locks changed, windows
boarded up in a code compliant manner, please inquire today.
Platform Components (cont.)
Loan Modification/ Loss Mitigation/Default Services (cont.)
Our HVCC compliant appraisal/valuation department allows for fast and accurate valuation of assets all over the country. Our services
are full appraisals, government appraisals, BPOs, and commercial/project valuations.
Not only are our process flows customized to meet your needs, so is our reporting capability. We can deliver scheduled reporting on
everything from EDR reporting, right party contact attempts, times dialed, talk times, conversion rates and file status reports.
Mortgage Fulfillment
Loan Setup
Loan Underwriting
Post Closing / Shipping
•File pre-audit
•Data entry
•4506T request
•File review
•Underwrite to exact investor guidelines
including risk overlays
•Decision the file and sign off on final stipulations
•Audit file for documents and signatures
•Put in correct stacking order
•Collect any trailing documents
•Ship file to client for review or to investor
Loan Processing
Loan Closing
•Customer welcome letter
•Missing document request
•Scheduling and ordering
(appraisal, title, etc.)
•Document review
•Automated underwriting decision
•Underwriting submission
(Grid Financial, client or investor)
•Final stipulation clearance
•Gather remaining pertinent information
(taxes, insurance)
•Get final approval from client to close
•Prepare closing instructions
•Review settlement statement for accuracy
•Send documents to attorney
•Verify closing
•Receive executed and recorded file
Loss Mitigation
Property Retention Products
Modification Processing and Underwriting
•Aggressive right party contact strategy that includes; mail, certified mail,
express mail, extensive outbound calling, field services – door knocking, current
photographs, perceived occupancy status
•Skip tracing
•Fraud analysis
•HAMP and HAFA project management
•Customer service inquiries
•Customer repayment plans
•Clear concise boarding process
•review and calculate necessary ratios
•Prepare and deliver modification package to investor/agency standards
•Image files for return to investor for storage
•Manage forbearance and repayment plans with follow up customer contact and
reporting
Loss Mitigation Analysis
•Foreclosure referrals to attorney network for federal, state, and local
compliance
•Foreclosure reporting and oversight
•Provide documentation as needed to key process stakeholders
•Ability to manage reinstatement figures and communication
•Point of contact for vendor, insurers, legal and investors through the process
•Supply proper status and delinquency reporting
•Handle the property liquidation process to best execution modeling i.e.listing,
auction, bulk sales
•Customer investigation/solutions – waterfall – customer options presentation,
HAMP, non-HAMP modifications, repayment plans, short sales, deed s-in-lieu,
foreclosure
•Modification payment tracking and reporting
•document collection and review – credit review, payment comparison analytics,
validation
•Best execution analytics – forecasted results with profit/loss
•Current property condition with photograph, perceived occupancy
•Manage short sale process; select realtor, listing agreements, monitor showings,
screen and present offers
•Title review i.e. vesting issues, liens, judgments and provide curative measures
Default Services
Bankruptcy Management
•Verify information through Pacer or third party
•File all necessary motions through counsel
•Compliance reporting that is fast and accurate
•Be the point of contact for key stakeholders in the process
Origination Fulfillment
• Standardized, automated workflow and procedures for
origination fulfillment
• Customizable solutions
• First rate borrower contact, assistance and loan resolution
techniques
• Senior management team with extensive residential
mortgage experience
• Dedicated, experienced processors, underwriters and
closers at your disposal
• Citrix access into Customer’s LOS
• Electronic loan closing, recording and investor delivery
Call Center Support Structure
• Inbound and Outbound Call Center Capability
• Onshore Call Center Functions
• Bi-lingual Staffing
• Data Input
• Data Collection
• Warm Call Transfers
Loan Modification/Loss Mitigation
• Broad-based experience in home retention/resolution
processes
• Proprietary applications for HAMP, alternative
modifications, HAFA solutions
• Best practices and proven success in right party contact,
customer assistance and loan resolution
Loan Modification Services Overview
• HAMP Modification Services
• Alternative Modification Services
• Send solicitation letters
• Obtain/update borrower financial information
• Contact borrower, explain program, answer questions
• Obtain/update property valuation
• Collect required documents
• Prepare and submit modification request to appropriate
GSE
• Verify information
• Respond to GSE inquiries, clear conditions
• Run information through Waterfall, NPV
• If NPV positive, prepare trial modification; if not send
decline and proceed to non-HAMP modification
• Shepherd borrower through Trial Period
• Prepare Final Modification
• Prepare and submit required reports (to Customer and to
Government Agencies)
• Prepare Modification documents for borrower/Customer
signature
• If borrower denied alternative modification, proceed to
short sale
High Level Modification/HAMP Process Design
High Level Process Map
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•
•
•
•
Check queue
Verify financial package
4506T
Credit report
BPO review
•
•
•
•
•
•
•
•
•
Review file for underwriting
Identify discrepancies
Contact borrower
Update system and
eligibility calculator
Verify borrower information
Obtain additional
information, if required
Confirm eligibility
Restart trial mode or Pursue
non-HAMP
Work with pre closers to
determine subordination /
title endorsement
implications
•
•
•
•
•
•
Underwrite the loan
Analyze income
Document System
Validate NPV supports
modification
Review monthly debts and
back end DTI
Validate BE DTI > 55%
•
•
•
•
•
•
•
Trial payments verification
Contact borrower
Order documents to vendor
Participation in title
endorsement / subordination
with processing
Send documents to borrower
Denial process
Foreclosure process
Process Flow: Pre-Processing, Processing and Underwriting
End to End Process Flow
Check
Assignment
Queue
Verify
Financial
Package
Order Credit
Report
No
Review Files
for
Underwriting
Discrepancies?
Borrower
Contact
Yes
Update
Eligibility
Calculator
Update
System
Is program
Eligible?
No
Borrower
Contact
Additional
Documents
Document
System
Review
eligibility
Calculator for
new income
Yes
Cancel current
trial mod:
Pursue NonHAMP
Validate
Documents
Document
System
Restart trial
mod
Is loan in
foreclosure
TDB
Process
Yes
Cancel current
trial mod:
Pursue NonHAMP
End
No
No
Update
eligibility
calculator
Underwriting
the loan
Is HMP eligible
Yes
Passed income
validation
Income
validation
Yes
Document the
System and
review BE DTI
BE DTI > 55%
Send
counseling
letter
C
Process Flow: Pre-Closing and Closing
End to End Process Flow
Monitor trial mod
payments
2+3
Payments
timely?
No
Follow up
with borrower
Unable to pay
/ meet terms denial letter
Cancel mod in
system and restore
loan to pre-mod
state
Yes
No
Subordination
worked out if
necessary
Timely?
Attempt alternate
non-HAMP loss
mit. options
Escrow analyzes
account for final
mod terms
Print and send
final docs
End
Approved mod
and finalize
changes in system
Send docs to
recording
Send no
response
expiration
letter
Cancel mod in
system and restore
to pre-mod state
Yes
Received
signed final
Mod doc
package
Yes
No
Send missing
final mod
package
Attempt alternate
non-HAMP loss
mit. options
HAFA Compliant Workflow