Technology and Default Providers Link Up
ISGN Corp. has entered into a partnership agreement with Default Servicing Technologies, a provider of technology tools and information services that help institutional mortgage banks, mortgage servicers and outsourcing companies manage and value real estate assets from pre-REO and REO through foreclosure or short sale.
This agreement will enable single sign-on access between ISGN's LenStar and Default Servicing Technologies' DispoSolutions.
LenStar is ISGN's default management service that connects servicers with attorneys and enables direct electronic distribution of data between the servicer and the attorney's systems. DispoSolutions is Default Servicing Technologies' REO workflow management technology which automates and manages the complete workflow of the REO cycle, from pre-REO, property preservation, redemption and eviction, to premarketing, marketing, closing, post-closing and expense tracking. The system will be seamlessly accessible directly from LenStar, so users will no longer have to toggle between systems. This integration will also enable the automatic transfer of applicable data from system to system, thereby reducing errors and eliminating the need for rekeying information.
"All indications are pointing to a substantially larger and more active REO market this year, and those volumes can cause a huge strain on the REO divisions of already-overworked lenders and servicers, particularly if they don't have the technology to help manage the process," says Shawn Maloney, senior director of products, servicing practice for ISGN.
"Our goal with this integration is to provide our customers direct access to a powerful solution that's part of a comprehensive system, thereby preventing the difficulties from using numerous disparate systems to accomplish tasks that are so intricately interwoven."