Pittsburgh-based ServiceLink has announced the acquisition of Newport Beach, Calif.-based DRI Management Systems (DRI). In conjunction with the acquisition, ServiceLink also announced the launch of ServiceLink Fusion, the company's new servicing workflow platform, which was designed and implemented in response to specific feedback from the company's servicing clients and incorporates technology gained through the acquisition.
‘In response to increasing regulatory oversight, our clients have asked for a way to successfully centralize their servicing workflow management and we listened,’ says Laura MacIntyre, ServiceLink's senior vice president of servicing solutions. ‘ServiceLink Fusion is truly a ground-breaking workflow platform, developed and configured in the default space, and is ready to accept additional configurations across the loan servicing continuum.’
According to the companies, ServiceLink Fusion uses the newly acquired DRI workflow platform to provide loan servicers with an end-to-end workflow management solution. While use of ServiceLink Fusion is not limited to defaults, existing configurations include loss mitigation, pre-foreclosure, foreclosure, bankruptcy, claims, third-party service ordering, litigation, default administration, and real estate owned management.
‘For more than two decades, DRI has led the way in defining the default technology space,’ says Duke Olrich, DRI Management Systems' president and CEO. ‘We are excited to join forces with such a forward-thinking industry leader and look forward to working with ServiceLink's servicing solutions team to deliver new technology for the industry.’
Terms of the acquisition were not disclosed.