A False Choice

Increasingly users want an out-of-the-box technology solution because they can’t afford to put the time and money into customization anymore. However, good technology can be both out-of-the-box and customizable. For example, Default Servicing Technologies, LLC, creators of the DispoSolutions REO management platform and the ValuationSolutions enterprise collateral valuation management technology, has made it possible for users of the company’s software solutions to add custom tasks, adding a level of flexibility to the tools.

“Now that the servicing industry is more experienced with short sale and REO workflows, they have developed their own internal processes for these departments,” said Amy Bergseth, Vice President of Operations for Default Servicing Technologies. “They want software that will allow them to continue to use the workflows they have developed and perfected, but that can also track that work in order to maintain a compliant audit trail. Going outside of the software opens up the company to non-compliance risk, but servicers don’t want to be shackled to the functionality built into a technology platform. Our new custom task feature solves these problems.”

Building on the software’s existing task customization features, the upgrade allows REO staff administrators to design and create tasks directly through their accounts. Users can build tasks section-by-section by adding fields such as headings, text boxes, photo upload, document upload, calendar widgets and more. Once added, setting additional options in each field can make custom tasks as simple or comprehensive as required for the client’s workflow. When launched, custom tasks provide a powerful new tool for collecting data from agents, closing companies and other staff members within the workflow.

DST’s web-based software is compatible with all mortgage servicing platforms and can be easily integrated into other legacy systems as required.

About The Author

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Tony Garritano
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.