NetDirector, a provider of cloud-based data and document exchange services for the mortgage banking industry, recently signed an agreement with enterprise lending solutions provider, Mortgage Machine Services, to enable them to comply with the upcoming TILA-RESPA Integrated Disclosure (TRID) requirements. They chose NetDirector due to its unique vendor-neutral position and ability to swiftly build out the loan origination ecosystem, bringing together participants from loan origination systems (LOS), document management platforms, title companies and other settlement services vendors.
Mortgage Machine Services has been providing mortgage bankers with tools and solutions for over 10 years. Over the years, it has added functions and capabilities to its flagship LOS Mortgage Machine while maintaining focus on its core business. Today, Mortgage Machine can manage customer acquisition, marketing, pricing, underwriting, closing, funding, shipping, secondary marketing and business reporting.
Jeff Bode, president of Mortgage Machine Services, Inc., said, “Ensuring compliance with TRID is our top priority. In order to accomplish this, we needed to enhance our capability to communicate and collaborate with our service providers. NetDirector’s data exchange hub was the logical choice to connect us to all of our trading partners with their proven record in the mortgage banking industry.”
NetDirector has been providing innovative and secure cloud-based data exchange solutions to the default servicing sector of the mortgage banking industry since 2005. NetDirector creates value for organizations by providing speed in transaction processing, reducing partner collaboration costs and enabling greater responsiveness in serving customers.
“We are excited about the opportunity of leveraging our integration expertise within the loan origination ecosystem,” commented Harry Beisswenger, CEO of NetDirector. “We believe we can significantly reduce vendor integration costs by replacing the current direct interface model with a single connection hub approach. We offer a single source data mapping and interface support model that provides long-term integration reliability and portability for all network participants.”