Western Union® FlexPlan

Providing the Path to Better Loan Performance

More than 60 percent of loans modified during the third quarter of 2008 became 30 or more days past due after just six months.* Western Union can help the mortgage servicing industry by providing tools for reducing re-default rates on modified loans. The Western Union® FlexPlan service helps increase the likelihood of mortgage servicers being paid on time and in full and diminishes the risk of foreclosure.

*Source: OCC and OTS Mortgage Metrics Report, Second Quarter 2009

A flexible payment solution designed specifically to improve loan performance, Western Union FlexPlan synchronizes multiple partial payments with your customer's cash flow, enabling the workout process.

• Multiple automated withdrawals can be made to coincide with borrowers' pay periods or other sources of income.
• Withdrawals can be made from multiple bank accounts to accommodate two-paycheck households or other cash flow scenarios.
• Provides a mortgage budgeting tool that helps consumers prioritize bills and pay on time.
• Additional amounts as specified in a repayment scenario created by the lender can be added to the debit schedule and spread across multiple withdrawals.

Service Benefits

Benefits to you, the mortgage servicer:

• Helps improve operational efficiency
• Improves payment predictability and provides early indicator for collection activity
• Integrates into existing business processes

Benefits for your customers:

• Provides the discipline that helps better money management and prioritize spending
• Leverages extra pay periods to minimize income impact