How they describe themselves: ShortSave is innovating and reinventing loan servicing by allowing self service and digital single points of contact through software for Loan servicers. ShortSave tackled loan defaults as its the most challenging and expensive part of servicing. By redefining default workouts (Loan Modifications, Short Sales and Deed in Lieu), ShortSave is on the leading edge of redefining an entire industry. Today’s defaulted borrower needs to use technology they have and know, mobile devices and computers. ShortSave is a customizable software product that can be private labeled for servicers allowing borrowers to engage without embarrassment of human interaction. 8 years after the crash $35B will be lost in 2016 due to loan default, that’s too much.
How they describe their product/innovation: ShortSave DLM software is an industry first, consumer-facing digital loss mitigation transaction platform in the defaulted loan servicing industry that integrates with existing systems at the data level. Large Data in default servicing. A borrower can now engage with their servicer without having to talk with a human to request help and receive an answer. Simple Q&A fills out the appropriate applications and supplemental paperwork can be submitted with a camera on a smart phone. This product has 2 guarantees, 1) More borrowers engage with less effort, and 2) when they engage digitally the process is quicker. Happy borrowers mean less complaints and happier banks and CFPB. Future of the default (Home, Auto, Student) is ShortSave.
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed
Bus. Dev., Press & Sales: Karl Falk, firstname.lastname@example.org, 719-399-0364