Servicing Order automates and centralizes the process of ordering servicing products from third-party providers. Fully integrated with the ICE Bankruptcy and Foreclosure solutions, Servicing Order functions as the bridge between servicers and their approved providers for the ordering, tracking, and fulfillment of servicing products. It significantly reduces manual work and lowers the risk of human error in the product ordering process. Servicing Order helps servicers collaborate more easily with their approved providers using features such as order initiation based on defined triggers, product selection based on loan conditions, duplicate order prevention, percentage-based provider allocation for improved load balance, robust order tracking capabilities for order visibility and exception handling, and a document storage repository using ICE Servicing Vault. The configurable rules engine helps track that the correct product type is selected, and that the product is ordered within the required time frame to help satisfy investor requirements and reduce costs. Plus, Servicing Order’s data updates directly within the MSP® loan servicing system to help keep orders consolidated on a single platform.

Features:

• Automate time-sensitive orders: Reduce the time and costs associated with manual ordering, tracking and fulfilment
• Optimize the ordering process: Intelligently order products based on loan conditions
• Create repeatable orders: Use the same set of business rules to repeat the ordering process across all approved vendors
• View your inbound products: Easily track and manage orders, as well as view tracking across functional lines
• Support investor compliance: Leverage a configurable rules engine to help track that the correct product type is selected, and that the product is ordered within the proper time frame