LINDEN, N.J. (9/21/15)--IMM, a provider of electronic transaction automation solutions, has introduced a suite of hosted loan services that enable financial institutions to fulfill new loan acquisition and existing loan modification functions electronically.
These services help financial institutions to retain more loans, increase portfolio yield and attract more loans from the competitive market.
IMM’s easyReset loan retention service empowers consumers to make personal financial choices toward the goal of reducing existing loan payments. Through the turnkey, interactive solution, borrowers can explore available loan modification scenarios, adjusting various loan parameters to see, in real time, how different combinations of loan terms best fit their financial situation.
Financial institutions remain in control by pre-selecting qualified borrowers and the available options for term extensions and associated annual percentage rates. This model allows the institution to pre-approve individuals within lending guidelines and market the loan-reset capability to only consumers with qualifying loans.
Once the consumer selects the desired terms, IMM’s document-presentment technology prepares the required modification documents real time for eSignature. easyReset facilitates the loan-reset transaction to occur in one sitting, without in-branch visits or phone calls, credit checks or traditional refinancing costs. Signed reset documents are then automatically archived into the institution’s enterprise content management or imaging repository.
A complement to easyReset, IMM’s easyLead acts as a loan acquisition tool designed to attract consumers with competitive loan offerings. Consumers interact with the easyLead online dashboard to evaluate loan options offered by the institution. Once the individual makes a loan selection, it is submitted immediately as a lead to the financial institution’s origination department for follow-up and closing.