Quandis Inc., a provider of default management mortgage technology solutions, has announced that it has integrated its military search service with KMC Information Systems LC’s (KMCIS) CaseAware solution that is utilized by law firms and trustees in default servicing. The new integration is seamless and allows users to quickly initiate searches from within KMCIS CaseAware application to identify borrowers in default that are active military personnel, helping adhere to the Servicemembers Civil Relief Act (SCRA) of 2003. The SCRA requires that servicers and foreclosure attorneys follow certain processes before foreclosing on an individual who has active status in the United States military.
“Our integration with CaseAware adds an efficient check and balance to the foreclosure process workflow,” said Scott Stoddard, chief executive officer of Quandis. “There are a number of moving parts and parties involved in the proper completion of a foreclosure; making sure servicers and law firms comply with the SCRA is critical. In recent months, companies have been hit with steep fines for incorrectly foreclosing on active military personnel. By and large, companies fail to comply with the SCRA because most searches are performed manually on the Department of Defense’s Webs ite, which is tedious, time consuming and prone to exposure.”
With the click of a button, CaseAware users can initiate an automated status search directly from within their existing workflow that instantly returns accurate results along with event triggers that determine the next task. Quandis imports detailed reporting on all searches back into CaseAware that time and date stamps the official status report provided on the Department of Defense’s Web site.
“We have been told by the many industry law firms we serve that not complying with the Servicemembers Civil Relief Act sets the stage for lawsuits and the potential to rescind foreclosure transactions," said Dan Cannon, COO at KMCIS. "When searches are done manually by processors, an element of risk is introduced due to the potential for user errors. With our new interface to Quandis’ military search service, however, KMCIS’ clients now have the ability to process their Department of Defense searches in an automated fashion, thereby reducing the time and effort to complete searches and the potential for inaccuracies. An integration with Quandis simply made a lot of business sense to deliver these efficiencies to our customer base.”
Combined, the integration between Quandis and KMCIS bridges the risk gap of improperly foreclosing on borrowers in default who are active military service members and are thus protected from foreclosure by the SCRA. In addition to law firms, servicers and banks can also utilize Quandis’ military search service to perform automated bulk searches on loan portfolios. Clients can use the service as a standalone solution or as integrated with their existing servicing platform.