RANCHO SANTA MARGARITA, Calif., Feb 20, 2019 (SEND2PRESS NEWSWIRE) -- Quandis, Inc., a leading default management mortgage technology provider, announced that it incorporated functionality into its Military Search service that empowers clients with the ability to easily customize real-time monitoring data analysis that is more explicit and inclusive in nature, returning the most granular searches in the industry for active military personnel along with detailed reporting.
Quandis Military Search (QMS) is an all-in-one solution that verifies up-to-the-second information on active duty military status to help organizations comply with the Servicemembers Civil Relief Act (SCRA) of 2003, which has stringent rules and processes that must be followed before starting mortgage foreclosure proceedings on borrowers that hold active duty status in the United States military. Stiff fines, penalties and lawsuits can result from active military personnel that are improperly pursued in the default process.
The new functionality works by providing organizations with the ability to define "monitoring cycles" for their data, which automatically runs SCRA searches using both client defined criteria and schedules. The continual search cycles allow for comparison of key SCRA data points over time thus identifying any changes in SCRA eligibility. The expanded functionality reports on specific data points as defined by unique client needs.
"Our development of QMS monitoring takes SCRA compliance adherence a step further by putting users in full control of their data and preferences as to how, when and to what degree of finality they would like to execute searches," explained Greg Kent, vice president of data services at Quandis. "Our clients no longer require IT resources to compare and detect SCRA status changes."
QMS delivers a highly accurate, cost effective, easy method for combing the Department of Defense (DoD) database to identify all possible name variations and aliases, complete with name permutations to reduce the risk of missing a borrower that has active duty status. An official military status report and certificate is returned from the DoD within 24 hours demonstrating proof of compliance.
QMS automates bulk as well as individual searches and can be used as a standalone solution or as integrated with leading attorney case management systems (CMS), servicing platforms and legacy applications to return and populate search certificates along with relevant data. The solution is being successfully leveraged by foreclosure attorneys, servicers, lenders, banks and third party outsourcing providers.
Quandis is a HousingWire Tech 100 company, has been named a Top 50 Service Provider by Mortgage Technology magazine multiple years in a row, and QMS also received a mortgage technology product-based award commendation from SourceMedia.
Founded in 2003 and headquartered in Rancho Santa Margarita, California, Quandis is a leading default management software provider specializing in web-based solutions for the mortgage industry. Quandis' solutions include foreclosure process automation, short sale portals, skip tracing systems, a valuations hub, military search services, bankruptcy status searches, collection solutions, vendor solutions, as well custom application development.
The company's clients range from servicers, to foreclosure attorneys, lenders, banks, GSEs outsourced service providers, and agents and brokers. For more information, please visit https://www.quandis.com/ or call (949) 525-9000.
News Source: Quandis, Inc.
Related link: https://www.quandis.com/
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