FEMA updates its flood maps 26 times a year, influencing property management and compliance for servicers. Previously, servicers faced limitations in options for flood update providers, impacting costs and flexibility. A new integration now automates the identification of FEMA map changes for properties, updating flood zone statuses without manual effort. This innovation not only reduces compliance risks but also prompts servicers to notify borrowers about new insurance requirements or cost savings, significantly improving servicing capabilities and efficiency in the mortgage servicing sector.
The integration now automatically identifies when a FEMA map change affects a property in a servicer's portfolio, and it instantly updates the flood zone status in the servicing system.
This connectivity marks a major milestone and expansion of our servicing capabilities, deepening our ability to serve the broader servicing ecosystem with the automation and efficiency that today's mortgage servicers deserve.
Before this integration, servicers had fewer flood provider options that could deliver automated updates directly into their platforms, often driving up costs and limiting flexibility.
We are thrilled to offer users this compelling new option that combines innovative technology with exceptional value, enhancing our servicing offerings.
Collection
[
|
...
]