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FNDS Technology Reaches Milestone.(Fidelity National Default Solutions)(Brief Article)

Mortgage Servicing News

| December 01, 2005 | COPYRIGHT 2005 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Jacksonville, FL -- Fidelity National Default Solutions said its NewTrak process management solution has processed more than one million bankruptcy and foreclosure transactions since its inception 20 months ago.

Fidelity attributed NewTrak's success to its ability to simplify workflow and process management, which reduces cycle times and improves efficiency for servicers.

Scott Barnes, senior vice president of operations for Fidelity National Foreclosure Solutions, said users of NewTrak have reduced the number of days required to process foreclosures by six and process bankruptcy motion for relief matters by an average of 22 days. That saves investors $770 per foreclosed loans and $210 per nonperforming bankruptcy, he said.

Gregory Whitworth, president and chief operating officer of FNFS, said NewTrak has improved vendor ...

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Source: HighBeam Research, FNDS Technology Reaches Milestone.(Fidelity National Default...

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