2008-11-08 13:42:01 -

www.visionetsystems.com - In response to the HUD bailout plan for US Mortgage industry, Visionet is offering an updated version of its VisiRetention solution to facilitate HUD's Hope for Homeowners (H4H) refinancing. VisiRetention was first made available during the re-fi boom of 2005. VisiRetention can be up-and-running in a client's environment in just four to six weeks.

On October 1,

2008, HUD issued the requirements for the Hope for Homeowners (H4H) program, a program created by Congress under the Housing and Economic Recovery Act of 2008. The H4H program is designed to help mortgage borrowers at risk of default and foreclosure to refinance into more affordable and sustainable loans.

Mortgage lenders and investors need intelligent refinancing campaigns to effectively identify borrowers and help them through the H4H program. The key to success involves proactively and quickly targeting troubled homeowners that qualify for the program to reduce further damage to their current portfolio and ensure home retention. VisiRetention determines the borrower's eligibility for the program by utilizing workflow and rules based technology, thus significantly reducing the setup and re-fi execution time. It has state-of-the-art mechanisms to collect relevant data from multiple systems and create a single version of the truth for rapid and accurate action.

Some key VisiRetention features are:

1) Replaces the current ad hoc procedures used by most mortgage banks with a systematic, well thought out technology driven process. This system also provides a structured database for analytical decisions and planning.

2) Provides the ability to identify and group prospective borrowers from the total portfolio population into distinct customer segments for refinancing through user configurable pre-defined campaign parameters and business rules.

3) Offers flexibility in conducting campaign analysis, preparation, and execution. The solution also provides relevant status reports, automated generation of e-mail notifications, and escalation of tasks resulting in improved tracking and process efficiency.

4) Allows users to lock and schedule campaigns and create necessary data files for origination or loan modification systems.

"We know the mortgage industry needs a robust re-fi product that can be quickly setup to deliver immediate results." said Arshad Masood, President of Visionet. "The Visionet team has designed a best-of-breed, scalable workflow solution that will assist banks in improving this tedious and time consuming task. VisiRetention makes foreclosure prevention a streamlined and structured process"

About Visionet Systems

Cranbury, N.J.-based Visionet Systems is a full service mortgage consulting and business process outsourcing company that delivers products in the best-of-breed philosophy. Using a combination of consulting, metrics-based technology solutions, and business process outsourcing, Visionet Systems helps lenders identify and remove inefficient business processes and technologies to improve profitability. Founded in 1995, the company's customers include mortgage bankers and servicers. For more information, visit www.visionetsystems.com, email us at Clifford.johnson@visionetsystems.com or call 609-409-1063 x1116.

Visionet Systems Public Relations
Cliff Johnson, 609-409-1063 x1116