Default Solutions

eDefault

eDefault is a workflow enterprise application that complements existing mortgage loan servicing activities.

The system enables Loss Mitigation Functions such as decision framework, delegation management framework, workout models, workflow management, borrower information discovery, incentives and penalties framework. Additionally, eDefault enables Real Estate owned (REO) Managed functions such as manage redemption period, expense reimbursement/ vendor management, market strategy analysis and disposition and inventory reporting.

Robust modules support various aspects of the delinquent mortgage loan resolution process:
	Collections –supports call center client contact efforts
	Loss mitigation and loan modification –Optimizes alternatives for loan resolution negotiation with customers, rank ordering alternatives based on customized solution sets
	Bankruptcy –facilitates managing lender interests in customer bankruptcy
	Negotiated settlement –streamlines settlement process with legal bodies for high risk loans
	Foreclosure –facilitates managing the foreclosure process and tracks milestones
	REO –facilitates maximization of sale recovery
	Sophisticated workflow rules generate tasks, workloads, and escalation of specific customer cases

Operational features:
	eDefault complements existing performing loan servicing processes
	Management dashboards provide multiple levels of oversight reporting
	Robust routines and decision support tools allow option to employ least costly service staff in certain aspects of managing delinquent loans
	eDefault has a browser-based interface for business users accessing the system from internet.
	The users will access the application through secure https external IIS based web farm and will be authenticated through LDAP
	eDefault is a scalable solution

Technology:

The eDefault application is developed using Weblogic J2EE platform and IIS as the Webserver. Due to the extensive workflow requirements, an industrial strength workflow engine Weblogic Integration is integrated.

The eDefault application needs to interface with multiple systems. Hence, the objective was to use, wherever possible, an asynchronous service-oriented architecture (SOA) for the interface. The service-oriented approach keeps the application core free from the service acquisition details. Also,  it allows other applications to share the interface.  With the service-oriented model, as long as service protocol is maintained, changes  in the service provider will not affect the application. With the service-oriented model, as long as service protocol is maintained, change in the service provider will not affect the application.

The Database server being used is SQL 2005 with Active/ standby clustering for fail-over
No open source software has been used in the product.