February 1, 2018
KeyStoneB2B has announced new flood zone determination services through its expansive network of providers. KeyStoneB2B simplifies loan origination for mortgage lenders by identifying the highest quality, most reliable ancillary products, including flood determination providers with advanced pricing capabilities.
“According to the National Flood Insurance Program, even a few inches of water from a flood can result in tens of thousands of dollars in damage,” said James V. Luisi, Chief Information Officer and Chief Technology Officer for KeyStoneB2B. “That’s the reason mortgage lenders are often required to acquire life of loan flood protection to protect the note holder of the mortgage. Our suite of services includes full integration with leading providers including flood determination dispute processing capabilities, with a goal of accelerating the flood determination process. We support mortgage lenders by reducing risk, enhancing compliance and increasing operational efficiencies, as well as performance. One valuable differentiator is our ability to separate flood orders that are satisfied instantly using automation at deep discounts versus the small percentage that require manual support.”
KeyStoneB2B partners with flood zone determination providers to offer state-of-the-art mapping, convenient reporting options, and dependable determinations. Advanced technology enables KeyStoneB2B to provide timely and reliable flood zone determinations at loan origination. The system reliably tracks a property throughout the life of the loan, ensuring its status remains compliant with the mandatory purchase requirement.
“By integrating flood zone determination services directly with KeyStoneB2B, mortgage lenders and financial institutions can take advantage of the more accurate and seamless process for tracking and updating flood zone determinations,” said Morell Maison, Sales, Marketing and Digital Strategist for KeyStoneB2B. “Mortgage lenders and financial institutions save time and manage costs. And When FEMA flood maps change, automatic updates further reduce the risk of errors, delays and costs associated with manual notifications. Lenders can automate life-of-loan flood zone tracking within the KeyStoneB2B system.”