Searching for a way to utilize technology to cut conveyance time and significantly reduce cost, DIMONT developed Collateral Loss Mitigation (CLM) Service as a solution. DIMONT found that servicers save $500 on average for each foreclosed loan with CLM Service. By allowing the servicer to refer the foreclosed loan to a single vendor, there’s a better chance of receiving a compliantly conveyed property by the deadline, easing the stress of the process.
DIMONT has created a complete suite of services tailored to conveyance. By using each of these services in a parallel manner, background processes can run with little effort and return a secured conveyance at minimal cost to the servicer. DIMONT’s main goal was to create a one-step hub for the servicer and, by simply referring the property to its suite of services, have the servicer quickly receive the conveyance. Founded in Dallas in 1996, DIMONT has used its values to become a successful company with innovative ideas that are changing the game for mortgage lenders, servicers and investors. By listening closely to the gaps in the industry and acting swiftly to find solutions, DIMONT achieved its original goal of becoming a leading provider of insurance claims management and adjustment services. DIMONT’s suite prioritizes and performs all the necessary tasks, with no guidance required.
Now contained in one collaborative effort was once a multi-vendor process that included receipt of bid/repair review, property preservation QA, settlement management, analysis and more. By measuring risk versus reward for the servicer, DIMONT’s CLM Service is a revolutionary way of bringing simplicity and efficiency to a process that can often lead to penalty fees and bring little reimbursement.
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