NetDirector, a provider of cloud-based data and document exchange services, and ISGN, an end-to-end provider of mortgage technology that impacts more than 5.5 million of all U.S. mortgage loans, have announced a partnership to facilitate seamless integration of ISGN’s Web-based default management platform, Tempo, for many of NetDirector's clients. Both companies are headquartered in Florida.
Many law firms and servicers are replacing outdated legacy systems as default servicing increases in complexity. The updates not only help law firms and servicers adhere to increasingly complex regulatory requirements, but it will help them proactively assist delinquent borrowers with loss mitigation and foreclosure prevention strategies. Through the partnership with ISGN, NetDirector will help provide a seamless transition, making sure that law firms and servicers stay connected.
“Default servicing is more complex today than ever with foreclosure timelines increasing exponentially, largely due to additional requirements for servicers to offer foreclosure prevention assistance,” said Don Gaspar, CTO for ISGN. “To manage these loans, servicers must invest in a modern, cost effective technology solution like Tempo, but replacing an outdated legacy system comes with a lot of pain points. By partnering with NetDirector, servicers can leverage Tempo without the hurdle of providing their own costly, proprietary integration. We look forward to working with them to deliver a solution that maximizes productivity, increases precision and provides greater cost efficiency.”
Tempo is built by default servicing experts to meet stringent demands of default. The platform provides a single system that manages both early and late stage default by streamlining default operations; Tempo helps servicers achieve both reduced processing times and a high level of accuracy, creating more efficiency and loan-level insight.
The shift to Tempo will affect three primary transactions: foreclosure and bankruptcy referrals, Standard Events, and messages. Many firms and servicers have maintained independent or proprietary integration between legacy and case management systems, which can cause an unnecessary strain on resources during transitions like this one; NetDirector is easing the transition and sustainably providing data integration between services for the foreseeable future.
“We are excited to help our current and future clients move forward through a once complex transitional period,” said NetDirector CEO Harry Beisswenger. “The technology available to both firms and servicers should create agility and swiftness, and strong integrations make this possible with a minimal amount of work. This is a great way for firms to leverage our servicer ecosystem.”