Of the over 85K mortgage-related complaints received by the CFPB during the last three years, 86% stem from servicing and default, and more than a third were due to routine servicing like how payments, escrow and transfers were managed. Today’s servicers can only handle half the average loans per FTE as compared to a mere ten years ago due to all these modern challenges and regulations. Adding to these conditions is a hypercompetitive environment, demonstrating that the industry needs to change how servicing is managed.
Built on over three decades of technology expertise, ISGN’s next generation loan servicing system, LoanDynamix™, meet the new demands of servicing by fusing proven servicing utility with state-of-the-art technology. Delivered through a secure SaaS model, LoanDynamix is an out-of-the-box solution that offers a smooth migration from existing solutions.
LoanDynamix warrants an Innovative Solutions Award because it:
- Is easily accessible – With a web-based platform, servicers can work where and how they are most comfortable from any browser, anytime and anywhere.
- Supports the entire servicing lifecycle – LoanDynamix can scale from a few thousand to more than six million loans while substantially improving operational performance, supercharging productivity and abbreviating turnaround times.
- Increases staff profitability – By improving and automating loan boarding, transaction processing and banking, investor accounting, collections and payoffs, LoanDynamix helps servicers increase staff productivity, manage higher loan volumes with existing staff, and increase business profitability.
- Provides a window into servicers’ business – An intuitive dashboard, as well as point and click reporting, gives servicers transparency into portfolio and loan-level analytics, aids in the assessment of early delinquency and compliance with federal and investor regulations.
- Maintains regulatory compliance – LoanDynamix offers user-definable business logic to adhere to investor and government regulations, including disclosures and notices. It also automates HUD/FHA reporting requirements, manages borrower communication and tracks multiple escrow lines.