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TECHNOLOGY On the Case (Management) deliver reporting capabilities that can prove compliance. Due to audits and stringent scrutiny, it's critical for today's technology to By Rich Geary and Jeff Raff W 64 the most noteworthy is the dramatic acceleration of an industry-wide trend toward powerful new technologies and innovative new software and systems. collective technical infrastructure, but a rapidly evolving regulatory landscape, along with the growing recognition that a daunting combination of higher volumes and increased oversight, would soon make old processes obsolete made it clear that change was a must. For a large number of default servicing law The industry tentatively began upgrading its firms, it was clear the value equation shifted: The complexity and expense of upgrading began to seem less significant in the face of increasingly stringent regulatory demands and exacting new standards and expectations. Many servicing professionals clearly concluded they could no longer afford not to upgrade. Perhaps the most significant aspects of this wave of (r)evolutionary new technical innovations are the comprehensive reporting and analytical capabilities that come with today's advanced technologies, particularly case management systems. The best of these new case management hile a dark cloud of turbulence and uncertainty has cast a shadow on the default servicing industry over the last few years, that cloud has some important silver linings. One of tools provide much more than just regulatory security and auditing confidence. Detailed new reports and analyses created servicing efficiencies, led to new insights, and helped minimize mistakes; and they save both time and money throughout the servicing process. In many respects, industry professionals just scratch the surface with regard to utilizing these new systems. Understanding how best to leverage these powerful technologies is an ongoing process. While specific technical and operational details differ from one case management system to the next, the transparency, consistency, accountability, security, and flexibility of these technologies will ensure they emerge as an essential piece of any successful servicing operation. But of what exactly are these new technolo- systems deliver a level of reporting detail, accuracy, and consistency is critical not only to meet new compliance standards, but also to demonstrate to auditors, clients, and professional partners that those standards were met. But these gies capable? What do these new case manage- ment systems actually do? And what do their powerful new reporting capabilities mean for the servicing industry? These are big questions, and—for an industry in transition—it's an im- portant conversation to have.

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