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Press
Release
July
7, 2000
EDITOR’S NOTE:
Dr. Tucker Hart Adams is Chairman of Mortgage Analysis
Computer Corporation. She is also Chief Economist for the Rocky Mountain Region
of U.S. Bank. Contact:
R. W. “Bob” Brown 1 (800)
444-7071
Tech Solution
Provides New Level of Loan Quality Assurance
Tested Tech
Solution Protects Investors, Borrowers & Lenders+
New System
Stops Errors in Servicing Loans
Dr. Tucker Hart Adams, Chairman of Mortgage Analysis Computer Corporation
announced the firm’s release of MACC-TRAC/Vision Pro© a proven technology
solution to protect investors, borrowers and lenders.
“Our mission is to `enhance the loan servicing enterprise’ for every
lender, large or small,” said Dr. Adams.
She acknowledged the tremendous strides made in advanced technology solutions
for origination and underwriting loans, but noted, “…there has been a void in
essential technology tools for servicing managers to match these front-end
systems to maintain and improve the integrity of loan servicing.
It is absolutely essential to protect the interests of borrowers,
investors and servicing enterprises.”
MACC-TRAC/Vision Pro is the only technology solution installed as an adjunct or
“middleware” to any loan servicing system that can identify data discrepancies,
re-calculate any loan and reconcile differences. The MACC-TRAC/Vision Pro
computational engine is the most powerful and comprehensive in the industry
according to its developers. The
system’s Dynamic Data Discrepancy,D3(TM), is an extremely accurate and fast
“real-time” verification of computational and other relevant data.
Payment postings, current and
historical, are integrated electronically for complete re-computation and
reconciliation with servicing records.
Identified discrepancies are immediately corrected.
Once in the system, single loans or loan pools can be immediately
reassessed and recalculated at any future time, facilitating highly accountable
reports to investors and borrowers.
MACC-TRAC/Vision Pro can be used to
eliminate traditional “shadow servicing” and give greater accountability to
master servicers, sub-servicers and trustees.
Shadow servicing is a costly “redundancy oversight” maintained by many master
servicers and Government Sponsored Enterprises.
Dr. Adams also emphasized “…residential
and commercial variable and adjustable loans are most vulnerable to servicing
errors, however, errors in fixed rate, lines of credit, home equity and other
loans are common. Servicing errors
impact investor return, borrower payments and servicer costs.”
“Until now, regulators and
internal audit personnel have not had an efficient or effective way to monitor,
review and check loan servicing computations” according to Dr. Adams.
To meet this need, she said, “A Single Associate version, though not
electronically integrated, provides the ideal tool for these entities to `spot
check’ loan servicing and evaluate risk.”
MACC-TRAC/Vision Pro technology is based
on eleven years of field experience, analyzing, auditing and reconciling over
$60 billion in loan assets for financial institutions, major investment and
accounting firms and federal agencies.
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