Xactus integrates compliance with the flood with ICE mortgage control
The Federal Emergency Management Agency (FEMA) Misses flood cards 26 times a year. The maps have a direct influence on thousands of property and create compliance challenges for serviceers.
Before this integration, serviceers had fewer options for floods that could deliver automated updates directly on their platforms, often costs up and limit flexibility.
The integration now automatically identifies when a FEMA card change influences a property in the portfolio of a manager and it immediately updated the status of the flood zone in the service system.
In turn, Xactus360 then asks the manager to take appropriate measures, such as informing borrowers about new flood insurance requirements or potential insurance costs savings.
The integration does not require manual intervention, which eliminates real-time monitoring of the FEMA changes and the corresponding compliance risk.
“This connectivity marks an important milestone and expansion of our service options, which means that our ability to serve the broader service system system, deepened with the automation and efficiency that today’s mortgage managers earn,” said Xactus president Shelley Leonard. “We are pleased to offer users this compelling new option that combines innovative technology with exceptional value.”
