In 2010, Radian is working to enhance its current CLMO model, introducing a brand-new class of component vendors responsible for face-to-face loss-mitigation services.
One of the primary ways in which Radian is helping to offset servicer volume is by forming partnerships with numerous component loss-mitigation outsourcers (CLMOs), all of which are specialty servicers with expertise in default management.
Through these campaigns, the CLMOs send out solicitation pieces to borrowers, following up the mailing with calling campaigns.
Both classes of CLMOs are trained in making soft contact with borrowers, and with the continued implementation of their services in the new year, Radian hopes to achieve significant improvement in contact rates and turn an increasing number of packages into modifications.
The approach to diagnosis of CLMO
is similar to that for chronic leukemias of lymphoid origin and is based on the complete blood count (CBC), morphologic examination of the peripheral blood smear, special stains, cytogenetic data, and clinical correlation.