HousingWireHousingWire
Xactus on Wednesday announced the completion of its integration with MSP, the loan servicing system operated by Intercontinental Exchange (ICE). The integration enables mortgage servicers to receive automated flood zone determination updates directly into their systems without manual intervention.
“This integration is a market-changing development for both Xactus and mortgage servicers who rely on systems like MSP,” said Michael Crockett, chief operating officer at Xactus. “By automating the delivery of flood certification updates directly into a servicing system, Xactus is expanding servicer options with a seamless, efficient solution that streamlines compliance while delivering exceptional value.
“This integration represents a significant advancement in our strategic growth within the servicing ecosystem.”
The Federal Emergency Management Agency (FEMA) updates flood maps 26 times per year. The maps directly impact thousands of properties nationwide and create compliance challenges for servicers.
Before this integration, servicers had fewer flood provider options that could deliver automated updates directly into their platforms, often driving up costs and limiting flexibility.
The integration now automatically identifies when a FEMA map change affects a property in a servicer’s portfolio, and it instantly updates the flood zone status in the servicing system.
In turn, Xactus360 then prompts the servicer to take appropriate action, such as notifying borrowers about new flood insurance requirements or potential insurance cost savings.
The integration does not require manual intervention, which eliminates real-time monitoring of the FEMA changes and associated compliance risk.
“This connectivity marks a major milestone and expansion of our servicing capabilities, deepening our ability to serve the broader servicing ecosystem with the automation and efficiency that today’s mortgage servicers deserve,” Xactus President Shelley Leonard said. “We are thrilled to offer users this compelling new option that combines innovative technology with exceptional value.”
