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Quandis Enhances Its SCRA Foreclosure Compliance

NationalMortgageProfessional.com
Oct 12, 2017
Fulton, Md.-based NewDay USA claims that it can approve many of the servicemembers and veterans who are denied on AUS

Quandis Inc. has announced that it has added new functionality that allows servicers and default attorneys to more easily manage images of official certificates from the Department of Defense (DoD)Quandis Inc. has announced that it has added new functionality that allows servicers and default attorneys to more easily manage images of official certificates from the Department of Defense (DoD) to demonstrate proof of compliance for adherence to the Servicemembers Civil Relief Act (SCRA).
 
The SCRA requires that organizations take various measures before beginning default and foreclosure proceedings on active duty military personnel. Non-compliance with the SCRA can result in steep fines, lawsuits and the potential to rescind foreclosures.
 
Quandis’ Military Search Service streamlines searches on delinquent loans by automatically combing the DoD’s database to identify borrowers that have active duty status, who are protected under the SCRA. The searches are very thorough, complete with name permutations, which catches slight variations of different names. Searches return a detailed, documented certificate from the DoD demonstrating proof of compliance.
 
Quandis has now added imaging functionality to meet all internal and external compliance requirements. The new functionality delivers a number of newfound efficiencies.
 
“One of the ongoing problems that organizations are faced with when it comes to SCRA compliance is not only verifying that a delinquent borrower is on active duty, but also in how they process, organize, or redact certificates provided from the DoD,” said Greg Kent, Vice President of Data Services at Quandis. “By adding imaging capability, clients now have the flexibility to take DoD certificates, centralize them, and store them internally for future reference and proof of compliance. This saves huge amounts of time spent by FTEs to manually perform the same task.”
 
The Quandis Military Search Service for SCRA compliance can be used as a standalone solution or as integrated with leading law firm case management systems (CMS) and servicing platforms.
 
“Quandis’ SCRA image packages has allowed us to ensure compliance with searches for active military personnel across the board for all of our cases,” said Matt Barr, Director of Information Technology at BWW Law Group LLC. “The simplification of the overall process gives us more time to focus resources in other areas, which produces a significant ROI for us.”


 
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