As the number and severity of weather-related disasters grow year after year, it is imperative for lenders to stay updated on ever-changing floodplains and which properties have moved into or out of a Special Flood Hazard Area (SFHA). These items must be tracked to ensure borrowers are complying with the most current flood insurance requirements.

Fortunately, ServiceLink offers lenders support, from guaranteed flood zone determinations to life of loan services that monitor FEMA flood map revisions throughout the duration of a loan. Mark Reedy, managing director, flood, at ServiceLink explains how ServiceLink’s solutions continue to evolve and provide meaningful services for its lender or servicer partners.

Q: ServiceLink has been providing leading flood services for more than 30 years. What’s the secret for longevity and what does the future look like?

Reedy: ServiceLink is known for providing the most accurate flood data because we're constantly reevaluating the way we do things - from our data creation and technologies to our processes and workflows. And our people are always focused on providing the best product possible.

I'm excited about the future. There are a lot of technologies and data sets we’re exploring that will make a big impact on how (and how quickly) we can provide the product, all while increasing accuracy.

Q: If you could name just three things, what would you say are differentiators that set ServiceLink apart from other flood service providers?

Reedy: I think one of the biggest differentiators for us is called CertMap®. It's a graphic combination of satellite images for a property, FEMA flood maps and other flood-related data. CertMap® is a high-quality map that shows a subject property’s proximity to FEMA flood zones and is provided at no additional charge to our clients. We were the first to bring it to market and the only one who provides it as a value-add.

Flood QuickCheck is another innovation. It's an automated yes or no answer at point of sale to the question “is this property in a SFHA?”. It can let the borrower and the lender know whether or not flood insurance is going to be an issue later, so they can get a head start on the process of getting flood insurance.

Third, we are very proud of our customer service. Our average hold time is under eight seconds, which I don't think any other company can say that. Our employees in the customer service department are trained extensively in all aspects of flood. They are flood experts and they're very helpful and motivated - because sometimes you just need to talk to a customer service representative, and we try to make that as easy as possible for our clients.

Q: How is ServiceLink helping lenders stay competitive?

Reedy: We are helping lenders futureproof their business by insulating their portfolios from present and future flood risks. Our customer service team and our account management team are highly motivated and customer driven. We're responsive and flexible in our relationships and the way we set up our accounts.

I like to say: we have innovative yet proven technology with a culture of partnership. We have a multitude of ways that we can interact and integrate with our customers. We're on over 60 LOS systems and multiple product platforms, so we can do a direct integration, or the customer can order directly on our website, or we can accommodate any combination of these ordering methods. We meet clients where they are.

Learn more about our flood products and solutions here.

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