FICS Enhances Servicing Solution with QuestSoft’s Instant Geocoder
- Address verification increases efficiency and profitability for mortgage services -
BOSTON, October. 14, 2007 – Financial Industry Computer Systems, Inc. (FICS), a mortgage technology specialist that provides in-house residential origination and servicing technology and commercial servicing technology to the mortgage industry, announced at MBA’s 94th Annual Convention & Expo 2007 that it has interfaced Laguna Hills, Calif.-based QuestSoft’s Instant Geocoder into its Mortgage Servicer solution. With Instant Geocoder’s address verification capability, the interface enables FICS customers to verify the accuracy of borrowers' mailing addresses, ensuring proper delivery and a quicker response time by the borrower.
With Instant Geocoder, servicers utilizing Mortgage Servicer will operate more efficiently and run a more profitable operation due to the accuracy and dependability of their mailings. Eliminating the issue of incorrect mailing addresses not only reduces the amount of time required for employees to manually rectify the issue, but it also reduces additional postage and costs associated with reprinting. If the correspondence sent to the borrower is delayed due to an improper mailing address, the borrower will not be able to react on the time schedule originally predicted by the servicer, which depending on the situation, can be costly to both the servicer and the borrower.
“When servicing loans at risk of default and foreclosure, being able to quickly and accurately contact the borrower is critical,” said Leonard Ryan, president of QuestSoft. “Foreclosure is an expensive undertaking for both the consumer and the lender, and being able to quickly, accurately contact borrowers can save both parties money and time in the legal system.”
“The timely and accurate delivery of default notices to borrowers is crucial in reducing loss mitigation efforts and the associated risks,” said Dawn Gibbs, president and CEO of FICS. “By interfacing our servicing solution with QuestSoft’s Instant Geocoder we are providing our customers with a tool to assist them in efficiently servicing loans in today’s lending environment.”
About QuestSoft
Laguna Hills, Calif.-based QuestSoft is a compliance-software development firm specializing in the Home Mortgage Disclosure Act (HMDA), Community Reinvestment Act (CRA), flood determination and complete compliance management to more than 1,600 banks, credit unions and mortgage companies nationwide. The company provides software design, compliance-quality geocoding and outsourcing services that are backed by more than 25 years of direct mortgage software and origination experience. In addition, the company has received recognition for its many technological accomplishments. For more information about QuestSoft and its products, visit the company's Web site at www.questsoft.com.
About FICS
Founded in 1983 and headquartered in Dallas, Texas, Financial Industry Computer Systems, Inc. (FICS), specializes in providing flexible, comprehensive residential and commercial technology solutions to the mortgage industry. FICS' systems are designed for Microsoft® Windows® with the most recent solutions using .NET framework that include a rich Windows® Presentation Foundation user interface and multi-tiered shareable services. The company also provides innovative document management and web-based capabilities into its full suite of products. Additional information about FICS is available via the company's website at www.FICS.com.
