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Remend Introduces On-Demand Analytics To Servicers
By James Comtois
Remend Inc., a mortgage servicing software provider, said that Remend OnDemand Analytics is now available. Remend OnDemand Analytics is the newest addition to Remend OnDemand, an on-demand mortgage servicing system for default management providing servicers with ease-of-use, speed of configuration and deployment, all through a Web browser.
According to the company, the Software-as-a-Service provides mortgage servicing managers with the real-time operational dashboards and standard reporting at the loan and asset level for operational, financial and compliance analysis. Mortgage servicing managers can use Remend OnDemand Analytics to better manage their default functions and vendors throughout the loss mitigation, foreclosure, bankruptcy, REO and collateral valuation processes.
The Remend OnDemand Datamart, which consolidates loan, asset and operational processing, powers the Web-based analytical desktop and vendor performance information, enabling mortgage-servicing professionals to get a global, updated view of their business.
"Volatility in the home loan market demands that mortgage servicing professionals have immediate insight across the entire mortgage loan lifecycle in order to make the right decisions, collaborate more effectively with vendors and comply with regulatory reporting requirements," said Don Morrison, CEO of Remend, adding that Remend OnDemand Analytics was designed to deliver comprehensive, real-time visibility and reporting so that mortgage servicing firms could gain more control over their business.
Additionally, Remend OnDemand Analytics offers improved operational and risk decision-making, increased control in vendor selection and greater understanding of service, compliance and cost parameters. Reporting functions include visual management dashboards, drill-down reporting and scoring of operational performance and vendor service levels. The integrated reporting enables drilldowns to the vendor, task, order and property levels.
Consolidating default management information allows servicers to operate in hybrid-servicing models, using a mix of outsourcers and direct vendors that provides operational flexibility to scale with volume changes and make adjustments. Information is captured from operational processes and third-party sources, providing the means to consolidate vendor information from multiple sources.
Remend's service, which supports four methods of data integration and application integration, enables integration with outsourcers and vendors such as asset management companies, real estate brokers, inspection companies, property management services and primary outsourcers.
Remend OnDemand Analytics provides standard reports that support requirements for meeting regulatory, investor, audit and rating agency reviews. Additionally, it delivers the reporting means to monitor internal processes and controls in support of Sarbanes-Oxley 404 and rating agencies (Fitch, Moody's, S&P) review of operational processes.
REO dashboards and reporting provide real-time visibility into REO operations in order to quickly drill down; identify problem areas by process, geographic area or vendor; and solve them.
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