Quandis Adds New Imaging Functionality to its Military Search Service for SCRA Compliance

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.

2017 HW Vanguard: Scott Stoddard

As chief executive officer and co-founder of Quandis, Scott Stoddard’s expertise in providing innovative default servicing technology solutions to the mortgage banking industry spans more than 25 years. Since founding Quandis in 2003, his leadership and management style has fostered entrepreneurial minded, out-of-the-box thinking and has resulted in a very low attrition rate with staff.

The enhancements Stoddard drove proved to deliver many internal procedure efficiencies for law firms, significantly reduced costs for SCRA compliance adherence, and identify borrowers that have active duty status.

In 2017, Quandis also officially rolled out Quandis Court Connect, a sophisticated data service that completely automates much needed monitoring of state courts for desired case activity to satisfy compliance and adhere to internal procedures. Often, users at law firms manually visit court websites on a one-by-one basis in order to locate cases of interest, which is onerous, labor intensive, and is prone to errors and missed cases.

Shortly after the launch of QCC, Stoddard formed a partnership with CaseAware, which is a leading case management system that is widely utilized by default law firms. With the integration, users can easily initiate court case searches across the country directly from within the CaseAware CMS.

What has been your secret to success?

“As an entrepreneur, I see many business opportunities. In order to capture them, be strategic, but moreover just go for it.”

Scott Stoddard of Quandis Designated One of the Mortgage Industry’s ‘Top 50 Most Connected Mortgage Professionals’ in 2017 by NMP Magazine

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

Quandis Profiled in DS News Magazine’s June 2017 Default Servicing Mortgage Technology Issue

Click here to read the profile.

HousingWire Designates Quandis a 2017 HW TECH100™ Mortgage Technology Vendor

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

Quandis Integrates its Court Case Search Solution, QCC, with KMCIS’ CaseAware® Case Management System

GRAPEVINE, Texas, Feb. 15, 2017 — MBA National Mortgage Servicing Conference & Exposition — Quandis, Inc., a leading default management mortgage technology provider, announced at the MBA’s yearly servicing conference being held at the Gaylord Texas Hotel that it has seamlessly integrated its court case search solution, dubbed Quandis Court Connect (QCC), with KMC Information Systems, L.C.’s (KMCIS) CaseAware® case management system (CMS) for law firms.

QCC is a sophisticated data service that automates the monitoring of state courts for desired case activity and immediately notifies users when any activity occurs. Often, users at law firms manually visit court websites on a one by one basis in order to locate cases of interest, which is onerous, labor intensive, and prone to errors and missed cases.

The new integration allows CaseAware® users to easily initiate searches for any type of court case across the country directly from within CaseAware®, which is a leading CMS that is widely utilized by law firms. Detailed case information is located and seamlessly populated back into CaseAware®. This eliminates manual intervention, data re-entry, saves time, and delivers newfound efficiencies.

“There is a rampant problem whereby law firms regularly perform manual searches on court websites, which accompanies many issues, inefficiencies and risks,” said Scott Stoddard, CEO of Quandis. “QCC completely eliminates this problem and now that our service is integrated with CaseAware®, the processes and workflows are fully streamlined for law firms.”

Key components of QCC include:

  • Docket monitoring that quickly locates the desired type of case and feeds any docket changes back into CaseAware®.
  • Docket classifications that efficiently categorize dockets according to desired criteria and preferences, enabling users to focus only on items that matter.
  • Party searches that check for party names and other case filings is also planned to be integrated with CaseAware®. QCC performs very granular party searches for any name permutation, preventing users from either missing a case or locating one that does not pertain to the individual being searched.

With the simple click of a button, CaseAware® users can obtain any and all cases for parties on a state-wide basis in just minutes with an unmatched level of accuracy, complete with name permutations. The law firm’s process remains the same, allowing CaseAware® users to sail effortlessly through their normal workflow. Detailed reporting is provided that can be accessed and a PDF copy of the court’s website docket page is stored for audit purposes.

Quandis will be attending the MBA’s Servicing Convention and Exposition from Feb. 14 – 17 in Grapeview, Texas at the Gaylord Texas Hotel. The company can be contact at 949-525-9005, via email at jbittick@quandis.com for a demo of QCC and the CaseAware® integration.

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 KMCIS
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® product suite offered by KMCIS is the leading case management software for the default servicing industry. CaseAware® 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® 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.caseaware.com.

Quandis Unveils Technology Solution to Help Lending Entities Comply with Changes to the Military Lending Act

Lending entities must adhere to the Department of Defense’s new MLA rules by Oct. 3, 2016 or risk non-compliance, fines and potential legal action

FOOTHILL RANCH, Calif., June 23, 2016 – Quandis, Inc., a leading provider of default management software and services, announced that it released a technology solution to help lending organizations comply with changes to the Military Lending Act (MLA) that take effect on Oct. 3, 2016. The MLA provides a number of new rules set forth by the Department of Defense (DoD) that impacts lenders working with active duty service members and their dependents. Failure to adhere to the DoD’s amended compliance rules can result in severe repercussions.

On July 22, 2015, the DoD finalized an amendment to the Military Lending Act of 2007, which entails crucial new rules that lenders must follow when dealing with active military personnel. The MLA rules apply to certain loans provided to “covered borrowers.”  The term covered borrowers consists of consumers who, at the time they become obligated on the extension of credit, are members of the armed forces serving on active duty or active guard and reserve duty, along with their dependents.
Loans covered by the rule include:

  • Unsecured closed-end loans
  • Non-purchase-money secured closed-end loans
  • Unsecured consumer lines of credit
  • Credit cards

Quandis’ solution provides a real-time API that searches the DoD’s database to instantly return covered borrower status in either human or machine-readable formats. Supporting high concurrency and average response times well under one second, the API is ideally suited to integrate with automated underwriting systems (AUSs). Unlike most search solutions, Quandis’ technology parses name permutation data to search on a very granular level for active duty personnel as well as their dependents, ensuring comprehensive searches so that nothing is missed.

“Our ability to leverage the technology we have already developed to adhere to the Servicemembers Civil Relief Act (SCRA) for active duty military status, and apply that knowledge and technology to the MLA is a natural extension for us,” says Scott Stoddard, CEO of Quandis. “Anyone dealing with debt when it comes to covered borrowers must comply with the MLA. Compliance is king and this new offering provides a critical safe harbor for lending organizations working with service members.”

Quandis provides a DoD-certified tracking number, along with a time and date stamped audit trail for users in the event of an audit or issue to demonstrate proof of MLA “safe harbor” compliance. The company’s MLA compliance solution is already in production with several lending entities.

Notable is that a record number of complaints made by service members to the CFPB has been recorded recently. In 2015, the CFPB received 19,000 complaints from service members, veterans and their families, which represented a 13 percent increase from 2014. The top three areas for complaints were debt collection (46 percent), mortgage reporting (15 percent) and credit reporting (11 percent).

Lending entities need to start preparing in advance to comply with the MLA amendments as opposed to waiting until the Oct. 3 deadline. Interested parties can contact Quandis at 949-391-9029 or via email at sales@quandis.com.

 

About Quandis:

Founded in 2003 and headquartered in Foothill Ranch, California, Quandis is a default management software company specializing in web-based solutions for the mortgage banking industry. Quandis’ solutions include foreclosure process automation, valuation software, military search services, bankruptcy searches, short sale portals, skip tracing systems, 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.

 

MEDIA CONTACT:

Joe Bowerbank

Profundity Communications, Inc.

949-378-9685

jbowerbank@profunditymarketing.com

Quandis Enhances its Military Search Service to Help Servicers and Attorneys Better Comply with the Servicemembers Civil Relief Act

Quandis Enhances its Military Search Service to Help Servicers and Attorneys Better Comply with the Servicemembers Civil Relief Act

Parsing of name permutation data more accurately identifies active military personnel, preventing improper foreclosures

FOOTHILL RANCH, Calif., Nov. 17, 2015 – Quandis, Inc., a leading provider of default management technology solutions, announced today that it developed and incorporated a sophisticated data parsing and analysis component into its Military Search Service.  The new functionality assists servicers and default attorneys in adhering to the Servicemembers Civil Relief Act (SCRA) in order to avoid non-compliance, lawsuits and fines.

“The functionality we added to our Military Search Service ensures that all possible name variations are always searched for on a very granular level,” said Scott Stoddard, CEO of Quandis. “Often times, servicers and default attorneys receive borrower data from multiple parties and disparate software systems that frequently return slightly different name variations. This creates the potential to miss active military personnel and as a result incorrectly initiating the foreclosure process.  Compliance is king and this new capability enables Quandis to further protect our clients.”

Quandis’ Military Search Service automates bulk as well as individual searches on delinquent loans by automatically combing the Department of Defense’s (DoD) database to identify borrowers who have active duty status in the military, which accompanies various foreclosure prevention protections. Each search returns a detailed, documented report from the DoD. The results are returned back into servicers’ back-office servicing applications and attorneys’ case management systems (CMS).

The ongoing problem is that organizations are challenged with verifying that a delinquent borrower is on active duty and then continually monitoring status to ensure it hasn’t changed.  Further complicating searches is the type of information that is returned with slight variations in names, thus heightening the chance of missing active duty service members.  The new functionality that has been added to Quandis’ Military Search Service significantly mitigates this risk.

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

Not complying with the SCRA can result in stiff penalties, lawsuits and even the possibility of the home purchase transaction being rescinded.

About Quandis

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, 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.

Quandis Military Search Technology Addresses the New Military Lending Act (MLA) Rule for Compliance that Takes Effect on Oct. 1

Quandis’ Military Search Service helps protect U.S. Servicemembers in multiple areas of lending 

 FOOTHILL RANCH, Calif., Sept. 15, 2015Quandis, Inc., a leading provider of default management technology solutions, announced that it has extended its Military Search Service to locate active duty military personnel in other facets of consumer lending for compliance adherence.

The White House announced the implementation of a new rule to protect Servicemembers and their families from high-cost loans and predatory lending, which takes effect on Oct. 1, 2015. It closes loopholes in the 2006 Military Lending Act (MLA) by expanding the definition of “consumer credit” to include payday loans, vehicle title loans, refund anticipation loans, deposit advance loans, installment loans and credit cards.

Quandis’ Military Search Service works by performing automated bulk searches on the Department of Defense’s (DoD) website to identify borrowers that are listed as active duty in all military branches. An official military status report is provided by the Department of Defense within 24 hours. Currently, most searches are performed manually by lending entities on the DoD’s website, which is arduous, time consuming and risky.

“Expanding our footprint into other aspects of lending that can leverage our Military Search Service is a natural fit for us,” said Scott Stoddard, CEO of Quandis. “The solution that we provide today for mortgage lenders to address SCRA compliance is easily transferable to any organization that gives a loan to a U.S. Servicemember. They have specific rights that must be adhered to in order to comply with the new Military Lending Act that will be implemented on Oct. 1, or stiff penalties can be levied.”

Quandis’ Military Search Service is currently in use by servicers, banks, foreclosure attorneys, trustees and various outsourced networks operating in the mortgage banking industry. It is proven to help lending organizations comply with the Servicemembers Civil Relief Act (SCRA) of 2003, which has various rules around foreclosing on active military personnel who have become delinquent on their mortgage. The solution can be utilized to quickly, efficiently and cost effectively locate all active military personnel.

The service is offered on a variable cost model whereby companies only pay per search on executed transactions.

 

About Quandis

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, 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.

Shifting Control: Improving Default Management

Improving the default management process means putting more control into the hands of power users and relying less on IT to write rules and make changes.

See our CTO’s article on default management technology in Servicing Management magazine.