New products, new clients and a new ranking — these are the latest items from the loan servicing technology provider grapevine.
Earlier this month, Black Knight Financial Services Inc. notified media that its loan servicing platform MSP received a “Best-In-Class” ranking from CEB TowerGroup analysts.
A few days later, Black Knight issued another press statement announcing new MSP client The Money Source. The correspondent lender will use the loan servicing system to service loans in-house.
During the Mortgage Bankers Association’s National Technology in Mortgage Banking Conference this year, ISGN Corp. unveiled LoanMomentum, the company’s “next-generation” loan servicing system.
According to the March 30 news brief, ISGN developed this technology specifically for commercial and residential construction loan servicing.
“U.S. home construction increased 4.4 percent during the final month of 2014, with the annual total the strongest in nearly a decade,” said Paul Imura, ISGN’s chief marketing officer, in the statement. “This resurgence in new home construction is an ideal opportunity for lenders to either enter the market or increase their existing portfolio, but to capitalize on these tailwinds, lenders must keep pace with increased demand while reducing overhead and maintaining compliance.”
In late February, ISGN headlined integration of its default servicing system Tempo within Fiserv Inc.’s loan servicing platform LoanServ. ISGN’s announcement stated its default management tool would enhance LoanServ’s capabilities in loss mitigation.
Also that month, at the MBA’s National Mortgage Servicing Conference, ISGN introduced LoanDynamix, ISGN’s software-as-a-service loan servicing system built to aid the servicing life-cycle of a loan. The press release touted the solution for its scalability, business insight capabilities and accessibility from any Web browser.
Elsewhere, Foothill Ranch, California-based Quandis Inc. launched its default management tool Quandis Loan Servicing. According to the Feb. 19 media announcement, default servicing modules, customized workflow configurations and vendor data integration comprise the tool’s core components.
“The default servicing systems that are currently available in the mortgage industry are antiquated and fall short of what servicers truly need to operate efficiently, nimbly and compliantly in today’s fast-moving challenging, regulatory intensive business environment,” said Quandis Chief Executive Officer Scott Stoddard in the announcement. “In order to effectively handle the complexities and many nuances in a very fluid marketplace, servicers need extremely configurable, flexible, agile technology.”
