Medallion Analytics and ISGN Partner to Offer HUD Preparation and Post-Closing Automation Tools
|June 28, 2012|
Medallion Analytics, a mortgage technology company that provides compliance and control across the entire loan origination and settlement process, and ISGN Corp., a provider of end-to-end technology solutions and services to the U.S. mortgage industry, announced that its Medallion HUD Prep and Medallion Post-Close Audit solutions will be integrated with ISGN’s Gators Settlement Services and Vendor Management System.
The Gators system allows appraisal and settlement companies to automate and streamline their entire process from order entry to final product fulfillment. By adding Medallion’s suite of productivity and compliance tools, users will benefit from drastically reduced document preparation times and improved accuracy on closing documents. “Our partnership with ISGN allows us to introduce a unique set of capabilities for the industry that demonstrates the power of streamlining and automating settlement services, driving down cost and processing time, while dramatically enhancing quality,” said Joel Davidson, CEO of Medallion Analytics. “With Medallion’s unique ability to extract and analyze content from mortgage documents and transform it into data, Medallion gives settlement services companies a breakthrough solution to automate the entire pre- and post-close settlement process. The end result is no rekeying, far fewer errors, and very importantly, lower cost”. According to a company statement, settlement services companies can reduce their HUD-1 preparation time to a matter of minutes by using Medallion’s automation technology. By eliminating costly errors of manual data entry and reviews, settlement services companies will be able to drastically improve their service levels for their customers. “We are excited about the productivity boost Medallion’s technology will offer to our customers to better serve their lenders while improving their bottom line,” said Tim Anderson, director of corporate technology strategy for ISGN. “The ability to compare the lenders’ original HUD-1 against the final to make sure they are still within GFE tolerance requirements reduces a huge compliance burden and risk for them.”