Mortgage technology firm ISGN has released its latest loan servicing system, LoanDynamix, which boasts a strong focus on compliance.
ISGN’s new system can support the entire servicing lifecycle and can be scaled to handle just a few thousand loans up to millions of loans, without sacrificing operational performance or productivity, the company said Tuesday. LoanDynamix was unveiled at MBA’s National Mortgage Servicing Conference.
Available as an out-of-the-box solution through a secure Software-as-a-Service model, LoanDynamix can run from any browser from any computer, making the program easily accessible for loan servicers. The system can support consumer loan servicing for home equity lines of credit, revolving lines of credit, manufactured housing and timeshares.
In an effort to increase productivity and to reduce turnaround times, many features in LoanDynamix come automated, including loan boarding, transaction processing and banking, collections and payoffs. To this end, LoanDynamix also streamlines the flow of loan data, which minimizes re-entry and assists in managing loans end-to-end.
The system’s interface and dashboard set-up, which is customizable and features optional modules, also delivers more transparency into portfolio analytics, helping clients determine early delinquency and maintain compliance with federal and investor regulations.
Supplementing the system’s robust focus on compliance, LoanDynamix enables customers to automate Department of Housing and Urban Development/Federal Housing Administration reporting requirements as well as to track multiple escrow lines. The system also features redundant data backups and a disaster recovery plan for those concerned with data security.
Palm Bay, Fla.-based ISGN also announced Tuesday that financial services technology provider Fiserv has fully integrated ISGN’s Tempo default servicing platform into Fiserv’s LoanServ platform. Tempo helps servicers, attorneys and vendors monitor the default lifecycle from collection to liquidation. The integration of Tempo into LoanServ will help Fiserv’s clients manage their portfolios of defaulted real estate loans, the company said.