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Why Choose IMS?
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| Staff Turnover. Turnover in departments that handle damaged properties is often more than 50 percent annually. Handling damaged properties and loss drafts is our sole focus. IMS has the committed staff, technology and best practices to deliver consistently high quality services, eliminating personnel headaches. |
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| Contact Points. In using IMS, clients have a single point of contact for handling damaged properties and dealing with the multitude of insurance companies, inspectors, contractors, property and preservation companies and municipalities. We manage everything involving your real estate collateral, enabling you to manage the business. |
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| Borrower Contact. During the loss draft servicing process, borrower communication must be thoroughly maintained to avoid delays and confusion. This requires a well-managed borrower contact function. IMS has the staff and infrastructure to accommodate after-business hour calls and emergencies. |
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| Peak Workloads. Natural disasters are unpredictable. IMS has an experienced team who are cross-trained and have the ability to perform multiple tasks depending on current needs, thus eliminating staffing problems created from peak workloads. |
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| Reporting. Reporting the status of activity on damaged property is often a burden. It is also labor intensive and ripe for errors. With IMS ADAPT™ technology, clients have Web-based access to critical information accumulated throughout our high quality control processes. |
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| COST REDUCTION |
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| Personnel. By outsourcing your asset protection services to IMS, lenders can reduce the cost of fixed staff and develop and manage costs based upon predictable service models. |
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| Fees. Fees for processing insurance claims through IMS are 20-30 percent lower than other national firms. These fees can be eliminated if IMS also manages the property repair process. |
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| Penalties. Using IMS, reconveyance penalties will be completely eliminated, because we understand HUD requirements and will ensure that no property is reconveyed to our clients. |
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| Repairs. IMS diligently negotiates to get our clients the proper repairs at the lowest price. Because services are tailored to each client’s policies, repairs are limited to client guidelines. |
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| Lost Interest Income. Income is lost when a property sits idle instead of being an interest-earning loan or investment. Through our end-to-end suite of services, IMS is able to accelerate inspections, preservation claims and repairs, facilitating the fast conversion of REO properties to asset sales. |
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| RISK REDUCTION |
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| Denials and Deficiencies. We eliminate insurance claim denials and deficient claim payouts caused by administrative oversights. IMS also negotiates diligently and aggressively when proceeds will not cover the required repairs. |
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| Collateral Protection During the claim and repair process, IMS ensures that property preservation work is performed as needed, lien waivers are obtained, and construction draws are monitored. |
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| Fraud and Overcharge. IMS guarantees contractors perform adequate, complete and comprehensive work. Our technology enables us to track contractor performance by job, tracking such key attributes as quality of work, timeliness and project budgets. Our certified network of contractors are continually measured and monitored against our best-in-class standards for work performance. |
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| Litigation. IMS diligently maintains best practices that virtually eliminate exposure to lawsuits resulting from damaged property. IMS technology ensures meticulous and complete record keeping and generates and tracks all necessary documentation to avoid legal problems. This information is available on demand, online when needed. |
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| Audits. IMS enables clients to avoid raising red flags on GSE radar screens by eliminating investor concern about damaged properties. With zero HUD reconveyed properties on repairs and by working closely with FNMA and FHLMC on special properties, IMS satisfies all requirements. |
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| WHY CHOOSE IMS? |
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| Any time a real estate property goes into default or foreclosure, both time and tactics become critical to the preservation of the asset value. How quickly and skillfully default issues are addressed usually determines the ultimate settlement value. The best way to assure swift and skilled response is to already have a strategy and a collateral protection partner that meets all the critical criteria of a third-party services provider. |
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| This is why IMS is the preferred provider for many of the nation’s largest mortgage lenders. IMS is a nationwide collateral protection resource that provides a full suite of services from loss mitigation to inspections, preservation, hazard claims recovery and property repair management. |
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| IMS Responsiveness Helps Lock In Value. Timely response to default situations is often a key element in maintaining the value of collateral property. This is why IMS staff, systems and certified providers are aligned to react quickly to client needs. The average industry service delivery time is 10 to 12 days. IMS average service delivery time is 6 days. |
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| Quality Service Requires Quality Providers. IMS provides a nationwide network of more than 4,000 certified sub-contractors and service providers that are licensed and knowledgeable about the codes and geographic requirements of properties in their communities and also follow strict IMS guidelines of service delivery. The typical IMS contractor has more than five years of direct real estate asset protection experience. This assures collateral holders of fast, competent and consistent service. |
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| IMS Services Easily Integrate with Client Systems. A mission of IMS is to create and deliver custom-tailored solutions that fit the business needs, policies, technology and volume requirements of our clients. This is why the company developed IMS ADAPT™, a proprietary, comprehensive Web-based application for initiating work orders, updating and reporting status and activity, quality control and billings. IMS ADAPT™ easily integrates with all loan servicing platforms and requires no special software other than a Web browser. Best of all, we adjust the application to fit your operations – at no additional cost. This saves clients a significant amount of time, labor, costs and aggravation. |
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| Commitment to Quality. IMS conducts nationwide background checks on service providers, requires digital photographs for proof of service delivery, reviews every client inspection report before it goes to the customer, and provides customers with direct access to IMS service delivery metrics. |
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| Commitment to Consumer Privacy. At IMS, asset protection means more than just protecting the properties within our clients’ portfolios. It also includes the processes that dictate how we interact with our clients and the critical information about their customers (read our privacy statement). We take issues such as confidentially, data security, disaster recovery and business continuity very seriously. IMS goes through a rigorous annual SAS 70 certification, ensuring our operations are fully compliant with Gramm-Leach-Bliley (GLBA) and Sarbanes-Oxley (SOX) regulations. All business is conducted over a secure Web site, ensuring client information is protected. |
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| Support for Supplier Diversity. Being a Women Business Enterprise National Council (WBENC) certified company, IMS meets nationally recognized supplier diversity requirements (read our diversity statement). As an important business strategy, this helps our clients to ensure they are a part of strengthening economic growth within our diverse communities. |
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