Exact, the mortgage servicing and asset management business has added real-time credit data to its collections department's armoury, which enables them to review real-time borrowers' spending habits.
If a borrower claims that they can’t pay their mortgage, but are spending money on non-essential items, this can be discussed with the benefit of real-time credit data, said Exact.
The intelligence also facilitates the agreement of realistic and affordable repayment solutions whilst treating borrowers fairly.
Ian Lonergan, CEO of Exact said: “It is important that we invest in the best technology in order to improve our intelligence and expertise not only to help borrowers who find themselves in a difficult situation but also to protect our clients from arrears and ultimately losses.”
