McCracken Adds Wireless Module And Passes System Reliability Test
McCracken Financial Software earlier this year added an integrated inspection module for its Strategy loan servicing system that will accommodate wireless, hand-held devices used by inspection workers.
And separately, the company also said that it's application service provider (ASP) services have met principals and criteria for reliability that were established by the American Institute of Certified Public Accountants.
The AICPA examination of system reliability encompassed four key principles: integrity, security, availability and maintainability. McCracken's software is offered either as an ASP or as an installed software product.
The testing was completed in the second quarter of this year, McCracken said.
With the new wireless module, Strategy users can order, track and update inspections as part of their servicing system, reviewing results and sharing information electronically. The new inspection management application leverages McCracken's mobile data collection, storage and distribution technology, the company said.
The new module uses Internet technology that allows users of the Strategy commercial mortgage servicing system to capture inspection data while working in the field using desktop computers, cell phones, or virtually any mobile device, the company said.
Noel Webster, president of McCracken, said the new application allows faster inspection turnaround, reduced paperwork and real- time status updates.
"By extending the value of their Strategy investment out to the source of the data, customers will also improve the quality of the inspection information their servicing business relies on," he said.
Audrey Riggs, vice president, Legg Mason Real Estate Services, said that lenders are asking for inspections earlier and earlier while at the same time seeking more information.
"Currently, an inspector fills out a paper inspection, completes the lenders form when he gets back in the office and then updates Strategy, our servicing system. If the inspector can fill out an electronic form in the field and download the information when he returns to the office, updating the lender's form and the Strategy system at the same time, he is going to have more time to perform actual inspections," Ms. Riggs said.
The inspection management application can also be integrated with other systems, including imaging and third-party reporting software.
McCracken, which has more than two decades experience in commercial mortgage servicing technology, provides loan servicing solutions for more than $500 billion in loans worldwide. McCracken is a subsidiary of GMAC Commercial Mortgage.
Copyright c 2002 Thomson Media. All Rights Reserved.