Radley Corporation Helps Loan Servicers to Stay in Compliance with USDA Requirements
GRAND RAPIDS, Mich., June 14, 2018 /PRNewswire/ — Radley is excited to announce EDI solutions to meet new requirements for the banking industry. Starting July 1, 2018, Electronic Data Interchange (EDI) will be required for larger loan servicers communicating Mortgage Loan Default Status and Secondary Mortgage Market Investor Report transactions to the Rural Housing Service’s Single Family Housing Guaranteed Loan Division of the United States Department of Agriculture (USDA). EDI is part of the Rural Housing Service’s (RHS) move to Electronic Status Reporting (ESR) to help make sure up to date information is accurately and electronically communicated from its loan servicers. EDI Solutions from Radley Corporation will help loan servicers comply with these new USDA requirements as well as provide a platform for future growth with new EDI partners.
As reporting formats become more standardized through EDI, lenders may need to switch from Web reporting to EDI reporting. With over 40 years of experience, Radley Corporation EDI Managed Services helps streamline the process. Radley President, Mark Farneth, said “Radley is pleased to work with the banking industry to help easily guide new partners into the EDI experience while increasing functionality and improving productivity.”
Radley’s iR*EDI eliminates error-prone manual entry and automates tasks that slow down processes. With a simple and user friendly interface, Radley’s EDI software helps the banking industry:
- Comply with the latest USDA regulations
- Save time by automatically scheduling transmissions
- Reduce IT resources with Radley’s EDI Managed Services
- Gain full data visibility with direct integration to back-end business systems
About Radley: Through a combination of consulting, software & hardware configuration, training and support, Radley provides solutions to organizations around the world looking to improve process efficiency and productivity.
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SOURCE Radley Corporation