California-based mortgage servicing software provider Quandis has launched a website to assist servicemembers, veterans and their families as part of President Obama's New Executive Actions.
The president outlined a program designed to provide financial and homeowner protections to members of the military and their families in an official White House press release in August. One such protection is preventing foreclosures on homes of active military personnel, which is part of the Servicemembers Civil Relief Act (SCRA) of 2003.
To help achieve the goal outlined by the president in August, Quandis recently launched Quandis Servicemember Outreach (QSO), a website designed to identify active military personnel quickly and easily by utilizing back-end technology to scrub lenders' loan portfolios. The website's detailed scrub of the Department of Defense website includes name permutation, validation, and normalization in order to check all possible name variations and statuses of active military members to ensure compliance with the SCRA.
QSO also provides information for lenders and servicers to proactively reach out to those who the website identifies as eligible for SCRA benefits, notify them of their options via email, and simply the application process. With QSO dashboards, lenders can not only generate docs, but they can track each search activity and keep a history log of outreach program efforts and responses.
Many banks and lenders have already partnered with the White House in order to implement the president's program.
"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, CEO of Quandis. "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."
In addition to QSO, Quandis offers an existing standalone military search service that foreclosure attorneys, servicers, banks, lenders, and third party outsource providers use.