Enhancement delivers internal procedure efficiencies and significantly reduces costs for SCRA compliance

RANCHO SANTA MARGARITA, Calif., Oct. 3, 2017 (SEND2PRESS NEWSWIRE) — Quandis, Inc., a leading default management mortgage technology provider, announced that it has added new functionality that allows servicers and default attorneys to more easily manage images of official certificates from the Department of Defense (DoD) to demonstrate proof of compliance for adherence to the Servicemembers Civil Relief Act (SCRA).

The SCRA requires that organizations take various measures before beginning default and foreclosure proceedings on active duty military personnel. Non-compliance with the SCRA can result in steep fines, lawsuits and the potential to rescind foreclosures.

Quandis’ Military Search Service streamlines searches on delinquent loans by automatically combing the DoD’s database to identify borrowers that have active duty status, who are protected under the SCRA. The searches are very thorough, complete with name permutations, which catches slight variations of different names. Searches return a detailed, documented certificate from the DoD demonstrating proof of compliance.

Quandis has now added imaging functionality to meet all internal and external compliance requirements. The new functionality delivers a number of newfound efficiencies.

“One of the ongoing problems that organizations are faced with when it comes to SCRA compliance is not only verifying that a delinquent borrower is on active duty, but also in how they process, organize, or redact certificates provided from the DoD,” stated Greg Kent, vice president of data services at Quandis. “By adding imaging capability, clients now have the flexibility to take DoD certificates, centralize them, and store them internally for future reference and proof of compliance. This saves huge amounts of time spent by FTEs to manually perform the same task.”

The typical process for default servicing entities starts with collecting a superset of all DoD SCRA certificates. Multiple copies are then created and adjusted for the content within them to be compliant. Law firms have to prove to servicers and courts that they interface with all SCRA information and documentation, and they all have their own internal requirements and procedures on how to handle SCRA certificates.

This manual process becomes hard to manage, significantly increases the element of human error, is laborious, time consuming and heightens the risk of non-compliance. Quandis’ new imaging functionality remedies this and provides detailed, well-organized proof of SCRA compliance in the event of an audit.

“Quandis’ SCRA image packages has allowed us to ensure compliance with searches for active military personnel across the board for all of our cases,” stated Matt Barr, director of information technology at BWW Law Group, LLC. “The simplification of the overall process gives us more time to focus resources in other areas, which produces a significant ROI for us.”

The Quandis Military Search Service for SCRA compliance can be used as a standalone solution or as integrated with leading law firm case management systems (CMS) and servicing platforms.

Quandis’ Military Search technology also addresses compliance for the Military Lending Act (MLA) rule. The MLA helps protect U.S. servicemembers in other areas of consumer lending outside of mortgage such as payday loans, vehicle title loans, refund anticipation loans, deposit advance loans, installment loans and credit cards. Under the MLA, servicemembers have additional protections that must be complied with. Quandis expanded its footprint into protection of servicemembers involving high-cost loans and predatory lending when new changes were implemented to the MLA in 2015 and again in 2016.

About Quandis:
Founded in 2003 and headquartered in Rancho Santa Margarita, California, Quandis is a leading default management software provider specializing in web-based solutions for the mortgage industry. Quandis’ solutions include foreclosure process automation, short sale portals, skip tracing systems, a valuations hub, military search services, bankruptcy status searches, collection solutions, vendor solutions, as well custom application development. The company’s clients range from servicers, to foreclosure attorneys, lenders, banks, GSEs outsourced service providers, and agents and brokers.

For more information, please visit http://www.quandis.com/ or call (949) 525-9005.

RANCHO SANTA MARGARITA, Calif., Aug. 24, 2017 (SEND2PRESS NEWSWIRE) — Quandis, Inc., a leading default management mortgage technology provider, announced that Scott Stoddard, the company’s chief executive officer, has been named to National Mortgage Professional (NMP) magazine’s 2017 “Top 50 Most Connected Mortgage Professionals” list.

NMP cites that individuals who earn a spot on the list as being very successful, well-connected, recognized, and powerful networkers and influencers in the mortgage industry. They are esteemed by their peers as authorities in their respective areas of focus who consistently serve as trusted sources of information, guidance and leadership.

Mr. Stoddard is a renowned figure in the mortgage industry, specifically in enterprise-level servicing technology. His expertise in providing technology solutions to the mortgage banking industry spans more than 25 years. He was the co-founder of LenStar, where in 1995 he completed the successful sell of the company to London Bridge, and then served as group executive to complete a smooth transition of ownership. Now owned by ISGN, LenStar is still a widely used network that that enables servicers and default attorneys to efficiently communicate, exchange data and streamline workflows.

In 2003, he co-founded Quandis and has since grown the company into one of the leading default management software firms in the mortgage industry. Other positions previously held by Mr. Stoddard include chief technology officer for The LOGS Group, vice president of systems for Mortgage Default Servicing, and five years of experience in the aerospace industry working with NASA, Rockwell International and Hughes Aircraft.

Mr. Stoddard has a long-standing reputation for being an innovator in mortgage servicing technology. He led Quandis in making significant advances in 2017 with its enterprise-class, modular-based default management platform, launching several new products and services that were quickly adopted by new clients. As a result of his leadership, Quandis continues to enjoy a solid footprint in the servicing side of SaaS and Cloud-based mortgage servicing software.

About Quandis:
Founded in 2003 and headquartered in Rancho Santa Margarita, California, Quandis is a leading default management software provider specializing in web-based solutions for the mortgage industry. Quandis’ solutions include foreclosure process automation, short sale portals, skip tracing systems, a valuations hub, military search services, bankruptcy status searches, collection solutions, vendor solutions, as well custom application development. The company’s clients range from servicers, to foreclosure attorneys, lenders, banks, GSEs outsourced service providers, and agents and brokers.

For more information, please visit http://www.quandis.com/ or call (949) 525-9000.

MEDIA CONTACT:
Joe Bowerbank
Profundity Communications, Inc.
949-378-9685
jbowerbank@profunditymarketing.com

RANCHO SANTA MARGARITA, Calif., April 11, 2017 — Quandis, Inc., a leading default management mortgage technology provider, announced that it has been named a top 100 mortgage technology provider by HousingWire for 2017.  The annual HW TECH100™ list honors the most innovative and progressive technology firms in the U.S. housing economy.

“The companies that make up the 2017 HW TECH100™ are the cream of the crop of the entire housing industry, from real estate to mortgage lending, servicing, and investment,” said HousingWire Senior Financial Reporter Ben Lane. “These companies aren’t just taking part in the housing industry’s technological revolution; they’re leading it.”

Quandis accomplished a number of different software advances that were instrumental in it earning a spot on the list. The company launched Quandis Court Connect (QCC), a sophisticated data service that effectively automates the much needed monitoring of state courts for business-critical case activity.  In addition, Quandis developed a new solution to help organizations comply with new changes to the Military Lending Act (MLA).

Further, the company also made advances with its core workflow product, Quandis Business Objects (QBO), which is a highly configurable business rules and business process-driven solution. QBO arms organizations with industry-leading workflow technology that contains an integrated suite of web services for effectively managing enterprise-wide operations.

QBO is used by companies ranging from large-scale to small and mid-tier organizations. Users on the business side can easily author, configure and implement a myriad of different rules that automate numerous complex processes and workflows — without the costly and time consuming assistance of IT.

“We are pleased to be lauded by HousingWire as an industry-leading vendor that is laser-focused on making the default servicing space in the mortgage industry more efficient,” said Scott Stoddard, CEO of Quandis. “The enterprise-class solutions that we develop have and continue to solve so many different pain points for organizations. Our entire company is honored to be named to HousingWire’s prestigious TECH100™ list.”

“The companies in the 2017 HW Tech100 cover the entire mortgage finance spectrum. There’s hardly a corner of our industry that hasn’t been transformed in some way, either by fintech startups focusing on a specific software need or legacy companies evolving to compete in the new environment,” said HousingWire Magazine Editor Sarah Wheeler. “Now more than ever, these companies are delivering the innovation this industry needs to do its most important job: supporting the American Dream.”

Quandis’ solutions are utilized by servicers, to foreclosure attorneys, lenders, banks, GSEs outsourced service providers and agents and brokers, and other third party vendors.

About Quandis

Founded in 2003 and headquartered in Rancho Santa Margarita, California, Quandis is a leading default management software provider specializing in web-based solutions for the mortgage industry. Quandis’ solutions include foreclosure process automation, short sale portals, skip tracing systems, a valuations hub, military search services, bankruptcy status searches, collection solutions, vendor solutions, as well custom application development.  The company’s clients range from servicers, to foreclosure attorneys, lenders, banks, GSEs outsourced service providers, and agents and brokers. For more information, please visit www.quandis.com or call (949) 525-9000.

About HousingWire

HousingWire is the nation’s most influential industry news source covering the U.S. housing economy, spanning residential mortgage lending, servicing, investments, and real estate operations. The company’s news, commentary, magazine content, industry directories, and events give more than one million industry professionals each year the insight they need to make better, more informed business decisions. Winner of numerous awards, including a 2012 Eddie Award for national editorial excellence in the B2B Banking/Business/Finance category, HousingWire has been recognized for excellence in journalism by the Society of Business Editors and Writers, the American Society of Business Press Editors, the National Association of Real Estate Editors, and Trade Association Business Publications International. Learn more at www.housingwire.com.

MEDIA CONTACT:

Joe Bowerbank

Profundity Communications, Inc.

949-378-9685

jbowerbank@profunditymarketing.com