Using the Bankruptcy integration with MSP, loan data can be retrieved to produce approved U.S. Bankruptcy Court Proof of Claim (POC) forms. Servicers can prepare, modify, and approve POC forms and upload documents that need to be included. They can also print the forms directly from the application or transmit the data to an approved third party to complete the filing. Additionally, the solution can help servicers minimize errors, reduce risk, increase processing volumes and manage court notices.
Bankruptcy
Automate the extensive and often complex steps associated with bankruptcy
ICE offers web-based capabilities to help you efficiently manage loans through the various stages of the bankruptcy process, including notification, case monitoring, closing and claim filings. The Bankruptcy solution supports existing business processes with configurable event tracking and client-defined exception handling to help you streamline bankruptcy processes, reduce risk and communicate more effectively with attorneys.
Within a default operation, bankruptcy can be a time-consuming process, with intricate rules that servicers must follow.
The Bankruptcy solution seamlessly integrates with the MSP® loan servicing system and bankruptcy services, such as NDC and AACER. The guided navigation and event timeline management tools provide an easy path to help you track and manage court filings.
Adapts to existing business processes
Supports existing business processes and exception management with out-of-the-box configuration that can be customized.
Automated processes and event tracking management
Offers robust capabilities including advanced rules-based technology to help with various processes, including the creation of the proof of claim forms, payment notifications, escrow analysis and document collaboration with attorneys.
Automated work item management
Maximize efficiencies while reducing risk, human error and processing timelines.
Integration with MSP and docket providers
The MSP loan servicing system is the mortgage industry’s leading servicing software for portfolios of all sizes; Bankruptcy can also integrate with the docket provider the servicer chooses.
Risk mitigation
Minimize errors and risk by preparing, modifying and approving court forms, such as the proof of claim. The solution also provides the ability to upload and print documents, and can then transmit the data to an approved third party to complete the filing.
Seamless attorney collaboration throughout the default process
Servicers must have the ability to stay in constant contact with attorneys during time-sensitive processes. ICE’s dynamic communication portal provides an efficient way for servicers to send, track and store important policy and process changes, as well as other critical information between the servicer and their approved attorney partners within the ICE Bankruptcy and ICE Foreclosure applications. Designed to replace inefficient email chains and spreadsheets, the portal provides full traceability, acknowledgment tracking and audit-ready reporting. This streamlined approach helps legal professionals stay aligned with servicer requirements, while supporting compliance and reducing operational risk.
ICE also offers a suite of default-focused APIs that offers multiple integration options for attorneys and other third-parties to help streamline default-related activities.
Frequently asked questions
What can the Bankruptcy solution be used for?
How does our Bankruptcy software work?
The adaptable solution supports existing business processes and client-defined exception handling, while offering highly configurable business rules – delivering the flexibility servicers need to meet business needs as market conditions change over time.