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Education, Technology Point to Industry Enhancements.

Mortgage Servicing News

| December 01, 2004 | COPYRIGHT 2004 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

In the past few years, technology has reshaped the way parties in the field services business communicate with each other, and industry leaders expect to see more technology adopted by the industry.

Leaders of the National Association of Mortgage Field Services say that technology, coupled with an increased focus on education and training, is helping to foster better relationships between field service contractors, national field service providers and mortgage servicers.

Alan Bunker, president of the NAMFS this year as well as president and CEO of Spectrum Field Services, Salt Lake City, said that the increasing use of technology has created a need for the industry to develop standards and offer education.

"One of the challenges is to get everyone in the industry on the same page in terms of using this technology," Mr. Bunker told MSN recently.

The NAMFS is in the process of updating its manual for property preservation, which will be released late this year or early in 2005.

That, coupled with a focus on "best practices," will further help industry participants to do their jobs more efficiently and provide higher-quality services, Mr. Bunker said.

Marc Insul, president and chief operating officer of Fidelity National Field Services, said that one reason each national field services company has developed slightly different technology is that the industry is a niche field that doesn't have technology vendors catering to it.

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