FOOTHILL RANCH, Calif., Feb. 15, 2012 (SEND2PRESS NEWSWIRE) — Quandis, Inc., a leading provider of default management mortgage technology solutions, announced that it has integrated its military search service with KMC Information Systems, L.C.’s (KMCIS) CaseAware(R) solution that is utilized by law firms and trustees in default servicing.
The new integration is seamless and allows users to quickly initiate searches from within KMCIS CaseAware(R) application to identify borrowers in default that are active military personnel, helping adhere to the Servicemembers Civil Relief Act (SCRA) of 2003. The SCRA requires that servicers and foreclosure attorneys follow certain processes before foreclosing on an individual who has active status in the United States military.
“Our integration with CaseAware(R) adds an efficient check and balance to the foreclosure process workflow,” said Scott Stoddard, CEO of Quandis. “There are a number of moving parts and parties involved in the proper completion of a foreclosure; making sure servicers and law firms comply with the SCRA is critical. In recent months, companies have been hit with steep fines for incorrectly foreclosing on active military personnel. By and large, companies fail to comply with the SCRA because most searches are performed manually on the Department of Defense’s website, which is tedious, time consuming and prone to exposure.”
With the simple click of a button, CaseAware(R) users are now able to easily initiate an automated status search directly from within their existing workflow that instantly returns accurate results along with event triggers that determine the next task. Quandis imports detailed reporting on all searches back into CaseAware(R) that time and date stamps the official status report provided on the Department of Defense’s Web site.
Dan Cannon, COO at KMCIS, says: “We have been told by the many industry law firms we serve that not complying with the Servicemembers Civil Relief Act sets the stage for lawsuits and the potential to rescind foreclosure transactions. When searches are done manually by processors, an element of risk is introduced due to the potential for user errors. With our new interface to Quandis’ military search service, however, KMCIS’ clients now have the ability to process their Department of Defense searches in an automated fashion, thereby reducing the time and effort to complete searches and the potential for inaccuracies. An integration with Quandis simply made a lot of business sense to deliver these efficiencies to our customer base.”
Combined, the integration between Quandis and KMCIS bridges the risk gap of improperly foreclosing on borrowers in default who are active military service members and are thus protected from foreclosure by the SCRA.
In addition to law firms, servicers and banks can also utilize Quandis’ military search service to perform automated bulk searches on loan portfolios. Clients can use the service as a standalone solution or as integrated with their existing servicing platform.
Quandis will be holding discussion times with interested parties at the MBA’s Servicing Convention and Exposition at the Orlando World Center Marriott in Orlando, FL, February 21 – 24. To arrange a meeting with Quandis, contact Laura Hadley at 949-382-1178 or via email firstname.lastname@example.org.
Founded in 2003 and headquartered in Foothill Ranch, California, Quandis is a default management software provider specializing in Web-based solutions for the lending industry. Quandis’ solutions include foreclosure process automation, short sale portals, skip tracing systems, a valuations hub, military search services, bankruptcy status searches, collection solutions, as well custom application development. The company’s clients range from lenders to banks, servicers, foreclosure attorneys, outsourced service providers, and agents and brokers. For more information, please visit www.quandis.com or call (949) 525-9000.
KMC Information Systems, L.C. (“KMCIS”) is a St. Louis Missouri-based partnership founded in 2004 and dedicated to implementing quality solutions for the Legal, Mortgage, and Title industries. The CaseAware(R) product suite offered by KMCIS is the leading case management software for the default servicing industry. CaseAware(R) Manage is a complete and extremely configurable legal case management system developed specifically for default services law practices and foreclosure trustee firms. The system includes a dynamic workflow engine, automated fees and costs, and an integrated document generation, storage and retrieval system. CaseAware(R) Integrate provides automated, two-way transmission of data between a trustee or law firm’s case management / accounting systems and the prevalent default services industry systems. For more information, please visit www.kmcis.com .
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