Quandis Inc. has announced that it has launched a Web site to help address President Barack Obama’s New Executive Actions to assist military servicemembers, veterans and their families. In an official release issued by the White House, President Obama outlined a program termed a “voluntary partnership” with financial lenders across the country to help deliver important financial and home loan-related protections to the military community. Part of the program is to prevent foreclosures on active duty personnel in accordance with the Servicemembers Civil Relief Act (SCRA) of 2003 by proactively querying the Defense Manpower Data Center (DMDC) for status no less than once a quarter, according to the White House.
As a result, Quandis has launched QSO (Quandis Servicemember Outreach), a Web site with back-end technology that allows lending entities to easily upload and scrub their loan portfolios in order to accurately identify active military service members. QSO performs detailed data scrubs of the Department of Defense (DoD) website that includes name permutation, validation and normalization. This means that all possible active duty military personnel name variations and statuses are checked to ensure SCRA compliance.
“The White House has spoken loud and clear: Banks and servicers must make every possible attempt to locate active military personnel, make them fully aware of their benefits, and adhere to the SCRA,” said Scott Stoddard, chief executive officer of Quandis Inc. “It is completely remiss of banks and servicers to ignore the White House’s request to partner with them and bring relief to service members, veterans and their families."
QSO also arms servicers and banks with information to proactively reach out to individuals that have been identified as being eligible for various benefits under SCRA, notify them of their options, and simplify the application process. QSO provides dashboards and reporting for each search activity and a history log along with the ability to generate docs, reach out to borrowers via e-mail, and track outreach program efforts and responses.
