CSC Enhances EarlyResolution Default Management Solution
23 Avril 2009 - 4:15PM
PR Newswire (US)
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. (Logo:
http://www.newscom.com/cgi-bin/prnh/20090422/CSCLOGO) 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/.
http://www.newscom.com/cgi-bin/prnh/20090422/CSCLOGO
http://photoarchive.ap.org/ DATASOURCE: CSC CONTACT: Marian Kelley
Director, Media and Analyst Relations, Financial Services Group,
+1-512-275-5722, , or Janet Herin, Sr. Manager, Media Relations,
Corporate, +1-310-615-1693, , both of CSC Web Site:
http://www.csc.com/ http://www.radian.biz/
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