Stavvy Acquires Servicing Tech Company
August 1, 2023
Stavvy has acquired servicing technology company Brace to provide a more streamlined experience for servicers and homeowners.
Homeowners, particularly those enduring financial hardships, face limited access to comprehensive empowerment capabilities within the current mortgage servicing landscape. With the acquisition of Brace, Stavvy emerges as the solution that empowers homeowners with the long-sought self-service capabilities that servicers and other industry stakeholders have advocated for over the past several years. It also addresses the longstanding concerns of the Consumer Financial Protection Bureau (CFPB) around servicers offering better and faster avenues for early resolution, rather than relying on antiquated phone and mail processes.
"Stavvy and Brace's unified services are set to deliver an unparalleled solution, encompassing every critical stage of default servicing - from the initial homeowner inquiry to the ultimate resolution," said Kosta Ligris, CEO and Founder of Stavvy. "Our unified team of industry experts combined with research and investments in generative AI and customizable workflows positions Stavvy to independently reduce the need for antiquated mortgage processes, revolutionizing the experience for all stakeholders involved."
With this acquisition, servicers and homeowners looking for mortgage assistance have access to a platform that allows them to interact on their terms, fostering increased transparency and improved operational efficiencies. The combined services provide a comprehensive end-to-end digital experience for homeowners and servicers that is unmatched in the marketplace.
Homeowners can now apply, submit documentation, track progress, receive a prompt decision and electronically execute relevant documents.
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