Xactus Integrates Its Automated Flood Compliance Solution with ICE’s MSP Loan Servicing System

Key Takeaways:

• Xactus completes integration with ICE’s MSP loan servicing system.
• Mortgage servicers gain automated flood zone determination updates.
• The integration removes manual processes in flood compliance updates.
• Xactus expands support to encompass the full loan life cycle.
• Enhancement strengthens compliance in the mortgage industry.

Streamlining Flood Compliance in Mortgage Servicing

Introduction

Xactus, a fintech leader in verification solutions for the mortgage industry, announced the successful integration of its automated flood compliance solution with ICE’s MSP loan servicing system. This strategic collaboration marks a significant advancement in how mortgage servicers handle flood zone determination updates.

About Xactus

Based in Philadelphia, Xactus has established itself as a market leader focused on innovation within the mortgage sector. Specializing in verification solutions, the company is dedicated to enhancing the efficiency and accuracy of mortgage processes through technological advancements.

Integration with ICE’s MSP System

The integration with MSP, ICE’s comprehensive loan servicing platform, represents a pivotal step for Xactus. By connecting their automated flood compliance solution directly with MSP, mortgage servicers can now receive flood zone determination updates seamlessly within their servicing systems.

“This strategic integration enables mortgage servicers to receive automated flood zone determination updates directly into their servicing system without manual intervention,” the announcement stated.

Benefits to Mortgage Servicers

The primary advantage of this integration is the elimination of manual processes in updating flood zone determinations. Automated updates not only reduce the potential for human error but also enhance operational efficiency, allowing servicers to focus on other critical aspects of loan management.

Strategic Expansion Beyond Origination

Xactus’s move to integrate with MSP underscores the company’s commitment to supporting the loan life cycle beyond origination. By broadening its integrations within the ecosystem, Xactus aims to provide comprehensive solutions that address challenges faced during loan servicing as well.

Conclusion

The successful integration between Xactus and ICE’s MSP system signals a noteworthy development in mortgage servicing. By automating flood compliance updates, the collaboration promises improved efficiency and accuracy for mortgage servicers, reflecting Xactus’s ongoing dedication to innovation in the mortgage industry.