From outsourcing to innovation: partnering to revolutionize mortgage servicing

Mortgage servicing is undeniably manually intensive. Lenders have historically had to nurture a sizable workforce with state-specific licensure requirements to manage loan administration, operate call centers, handle customer queries, and complete the back-office tasks required to ensure it meets all customer demands and manages the mortgage correctly through its entire lifecycle. Not only this, but thanks to the strict regulations in the mortgage industry, lenders must employ teams to ensure their call center associates are compliant – asking for all the correct information and handling all personal data securely. These regulations and requirements mean that mortgage servicing is a high-cost, manually intensive process, but the increasingly small margins mean lenders struggle to find the capital needed to invest in innovation—often hampering efforts to streamline processes.