FHA Waterfall Calculations Made Easy
With the new FHA Guidelines in full swing, mortgage servicers both large and small are left scrambling to get their shops (and their servicing software) compliant. For larger servicers, this means the painstaking task of performing, sometimes manual, calculations on hundreds or even thousands of delinquent FHA loans. For smaller servicers, understanding the waterfall process with its complicated calculations and then applying that vast knowledge to a relatively small portfolio is a daunting new task. All this leaves servicers to wonder--
Is there an easier way?
Fortunately, there IS an easier way! Designed specifically with all types of servicing shops in mind, DLS Servicing Consultants offers the FHA Waterfall Analysis and Calculation tool, WaterfallCalc.com.
WaterfallCalc.com is a comprehensive program that:
• Ensures the correct loss mitigation option is chosen (based on ML 2016-14), and clarifies thoroughly why an option cannot be chosen
• Performs the calculations to execute a Forbearance, Repayment, and HAMP workout – including trial payment amount, new payment amount, and how payments should be allocated during the workout
• Provides Housing Finance Agencies and servicers who offer proprietary modifications customization with variances for interest rate reductions and term extensions
• Allows for differences in the way your shop calculates delinquent interest- offers a choice of straight, amortized, or capitalizing total arrears
So what’s the catch?
There is none. DLS Servicing Consultants needs only a small amount of loan level data to complete the analysis. All data is transmitted through our secure online password protected client server. Once this information has been obtained, DLS Servicing simply runs the loan through the FHA Waterfall Calculator.
Servicers will receive a comprehensive report for each loan detailing:
• The borrower’s financial condition at the time of the review
• A detailed analysis of the FHA Waterfall showing why an option was or was not selected
• Calculations for the correctly selected option
• Calculations for any failed HAMP
With all this great information I receive, it must be expensive. What’s the cost?
The cost for all servicers is extremely reasonable. With charges on a per loan basis with no administration fees, servicers can better project costs for their portfolio. DLS Servicing Consultants, LLC also offers bulk discount rates for servicers. To see the cost structure for the FHA Waterfall Analysis Calculator, click here.
Most importantly, DLS Servicing Consultants, LLC offers all servicers:
• Accelerated turnaround times of all FHA loans
• Comprehensive client support
• Quality analysis with integrity
• Knowledgeable, experienced, and detail-oriented staff
If you would like to know more about the FHA Waterfall Calculator, would like a copy of our FHA Waterfall Calculator e-brochure, or would like to get started today, please contact us. We would love to hear from you!
*DLS Servicing Consultants, LLC is not acting on behalf of or at the direction of the United States Department of Housing and Urban Development (HUD)/Federal Housing Administration (FHA) or the Federal Government. Servicers who submit loans to DLS Servicing Consultants, LLC are entirely responsible for verifying all information returned is accurate.