NetDirector, provider of a leading data exchange for the mortgage banking industry, has announced the availability of its field service interface. Mortgage Contracting Services (MCS), a property preservation and inspection services provider to the mortgage industry, is the first field service company to go live with this new interface, designed specifically for occupancy verification. NetDirector partners with its subscribers to provide a solution that allows them to move data and documents securely with a myriad of industry trading partners, including, a national attorney network, mortgage lenders, title providers, process servers, publications and many more. NetDirector now processes more than three million data and document transactions each month.
The bi-directional occupancy verification interface provides a transaction from attorney/trustee to MCS that includes borrower and property information. By transferring data directly into the MCS application, users save time by eliminating dual entry. Once MCS inspects the property, an occupancy verification status update is returned to the attorney/trustee without human intervention. This automated process will cut timelines and improve attorney/trustee scorecards. MCS also plans to use NetDirector’s invoice interface to send individual bills to its clients electronically to eliminate data entry in the company’s accounts payable systems. The automated interface is very timely since Fannie Mae has recently instituted a national deed in lieu program that requires a property inspection. MCS will be performing the required inspection.
“Our business is all about speed and technology, and NetDirector is a perfect extension of these initiatives,” said Anthony Box, senior vice president at MCS. “We are excited about this new relationship and look forward to using its data exchange capabilities to automate our communications with clients. We have been very impressed with NetDirector’s implementation and support staff, as well as the company’s knowledge regarding data integration. Its centralized approach will reduce our development costs versus managing multiple one-to-one type data interfaces.”
“MCS brings a new type of field service interface to our network,” said Harry Beisswenger, chief operating officer at NetDirector. “Occupancy verification is starting to play a key role in the industry as more mortgage servicers are requiring home inspections. This type of service aligns well with our current interface portfolio since this transaction can be used for not only occupancy verification, but also for other field service types such as service of process.”
For more information, visit MCS360.com or NetDirector.biz.