RamQuest Clients Integrate With NetDirector REO Interface

ector, a provider of a data exchange for the mortgage banking industry, has made available a real estate owned property (REO) interface that allows RamQuest clients, via the Closing Market interface, to update events and upload documents to REO servicing systems. NetDirector partners with its subscribers to provide a solution that allows secure data movement among various industry trading partners, including a national attorney network, mortgage loan servicers, title providers, process servers and publications, the company says. NetDirector now processes over 3 million data and document transactions a month. "Our centralized hub architecture lends itself to quickly add additional REO servicing platforms to allow our participant network to swiftly expand their interface capabilities," says Harry Beisswenger, chief operating officer at NetDirector. The REO interface currently integrates with Freddie Mac (Quandis), VendorScape and RamQuest. Initial REO integration includes event updates (e.g., eviction status, title request, proceed wired), document uploads (e.g., deeds, contracts, title commitments) and closing file uploads (required on Freddie Mac loans). This data-trading environment reduces the manual handling of information, which, in turn, reduces REO time frames and improves data accuracy, NetDirector adds. SOURCES: NetDirector, R


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