Loan Modification and Restructure Package Agent

Borrowers in trouble need an answer quickly, but a modification package needs consistent figures across many documents. When a request arrives, this agent collects the hardship letter, income, expenses and loan history. Before comparing options, it checks that the figures agree across documents. If they do not, it lists the conflicts and requests updated documents, then checks again. It calculates what the borrower can afford, treating a payment over 31 percent of income as not affordable, and models options such as term extension, rate change or deferral. Options outside program rules are excluded. It drafts the option summary for the loan officer and the approval committee. The committee decides the terms, and a person approves every message to the borrower. Edge case: the borrower's stated expenses leave out a car loan shown on the credit report, so the agent adds it.