DTCC’s Loan/SERV Messaging Service provides a safe, secure and automated network for the transmission, receipt and online storage of industry standard loan messages, such as agent notices. The service also allows market participants who do not wish to receive messages directly into their processing systems to manage their messages online via a message hub.

Overview

DTCC’s Loan/SERV Messaging Service provides a safe, secure and automated network for the transmission, receipt and online storage of industry standard loan messages, such as agent notices. The service also allows market participants who do not wish to receive messages directly into their processing systems to manage their messages online via a message hub.

Who Can Use the Service

Any loan market participant can use the Loan/SERV Messaging Service.

Benefits

• Eliminates faxes and back-office costs associated with loan fax processing.
• Improves the reliability and timeliness of all communications, helping agents reach a broad range of lenders quickly and efficiently.
• Reduces errors associated with incorrect manual processing and delayed or missing faxes.
• Gives greater management control of the processing of notice information including prioritization of critical messages while indicating the number and age of outstanding messages.
• Ensures greater accuracy to adjustments in positions resulting from loan life-cycle events.

How the Service Works

The Loan/SERV Messaging Service uses DTCC’s proven SMART (Securely Managed and Reliable Technology) network to allow syndicated loan market participants to transmit and receive standard messages. Market participants transmit the standard messages to a message hub. The hub identifies the intended recipient of the messages and either routes them electronically or displays them online, according to the recipient’s predetermined instructions.

Lenders or institutions that do not want to receive electronic messages directly into their processing systems can log on to the message hub via a Web interface to view and process their messages. Workflow capabilities enable institutions to establish processing rules and track their messages as they are processed.

The Loan/SERV Message Service also provides online storage and retrieval of loan messages.

For More Information

Please contact Christopher Childs at (212) 855-2331 or cchilds@dtcc.com.