Boarding new and acquired loans can be complex.
Complications can arise in the time-consuming “de-blobbing” and post-transfer validation processes and issues like inconsistent file naming, missing files, and error in data extraction can open servicers up to risk – both regulatory and reputational.
ICE offers loan boarding tools that provide servicers with the scalability, flexibility and controls to more easily board new and acquired loans onto the MSP® loan servicing system. Robust data conversion and mapping capabilities convert source data as it is received from the previous servicer into a standard format and helps validate that data after the transfer is complete.
Tapping into these powerful tools can help servicers:
Increase operational efficiencies
Simplify data conversation while improving data integrity
Improve audit controls and tracking
Streamline workflows and reporting