SolomonEdwards and Constant join forces to bring TotalMod to financial institutions
- Constant’s AI-powered self-service software that automates end-to-end loan modifications and other training solutions for consumer, mortgage and student loans, and
- The best implementation, change management, risk management and compliance services from SolomonEdwards.
The TotalMod solution is intended to help financial organizations alleviate the need for large staffing campaigns and the use of inundated phone channels that challenge the ability of service providers to comply with consumer protection laws and changing regulatory requirements related to the financial stay.
“We are excited about the potential of Constant’s platform to help digitally savvy borrowers get loan modification or other loss mitigation options within minutes. In addition to automating mortgage recovery options, this revolutionary platform introduces loan-style modifications; post-extension and deferral options are limited, ”says Candace Caley, Managing Partner at SolomonEdwards. “We are confident that TotalMod will help us deliver an exceptional customer experience and improve our competitiveness, while continuing to meet the evolving needs of our customers today and in the future.”
“SolomonEdwards’ expertise in handling the changing regulatory environment, coupled with superior banking and mortgage expertise and tailored solutions, makes them an ideal partner when we approach a wide variety of financial organizations,” says Catherine Powers, CEO of Constant. “Together, we can help customers quickly implement an automated loss mitigation solution and provide compliance support, response and remediation as anticipated enforcement and monitoring measures are expected to increase. “
Notes to Editors:
For more information about Constant and its hardship relief solutions or to speak to Constant’s manager (s), please contact Marie Beltrante To [email protected] or (207) 807-0212.
For more information about SolomonEdwards and its banking and financial services solutions or to speak with SolomonEdwards banking and financial services partners, please contact Marc Gaydos To [email protected] or (484) 654-9810.
Constant offers its AI-powered software platform to financial service providers to accelerate pain relief assistance, applying decision logic and API-based analytics to replace manual processes. The company built the lending platform it created to mitigate losses, reduce reliance on the telephone channel, and avoid the high costs of servicing distressed loans during a recession. When the COVID-19 crisis accelerated financial stress for consumers, Constant’s team offered the technology to other lenders and service providers.
SolomonEdwards is a privately held, national professional services company focused on strategy execution. Our largest line of business is the practice of Banking and Financial Services (BFS), where the focus on the changing financial services environment, coupled with superior expertise in banking, mortgage and credit to consumption, makes us the ideal partner. Whether your priorities are focused externally from a regulatory perspective or internally to improve efficiency, reduce risk, lower costs, or streamline workflows, the success of transformation initiatives is essential. Our BFS team members have sat in our clients’ shoes, allowing us to bring best practices to engagement, while avoiding costly ramp-up time and delayed learning curves. Our strength lies in our ability to tactically assist clients with projects and initiatives in today’s challenging environment.