NetDirector Updates Software for Military Members' Verification

NetDirector in Tampa, Fla., has upgraded its software to improve the accuracy of verifications of borrowers who are members of the military.

NetDirector's improvements will help servicers verify if a borrower facing foreclosure is on active duty. It also adds improvements in the verification of a borrower's bankruptcy history, using the federal government's PACER court database.

The improved verification searches will help servicers, attorneys and others comply with requirements of the Servicemembers Civil Relief Act, a law that requires servicers, foreclosure attorneys and trustees to verify if a borrower is an active-duty member of the military.

The improved processes will also help servicers reduce costs, Harry Beisswenger, NetDirector's CEO, said in a news release.

Makers of software, purveyors of analytics and other companies associated with the mortgage industry have been introducing new products to help servicers comply with laws that regulate lending to military members. CoreLogic, for example, introduced a product in February to help servicers provide correct benefits.

Federal regulators and prosecutors have also stepped up the pace of enforcing laws designed to protect active-duty military personnel from unlawful home foreclosures and other violations.