We transitioned a nationwide lender’s origination operation offshore, then followed that with post-closing, title, and closing support, delivering nearly $24 Mn in annual savings. Business challenges The client is a private-equity-owned leading US lender that operates in 50 states and supports multi-channel lending. The client sought a technology and services
It is humane and it works
Key Requirements Re-engineer loan origination processes at the height of a mortgage boom and streamline inefficient lending processes. Itemize elements of the current loan origination process, identify new technology and business processes, and create an orderly plan for modernization. Prepare the client to internalize the technology and assume control of
A Quick Guide on best practices in collections strategies with automated solutions Why is everyone talking about Digital Debt Collection? Consumer debt in the US has increased nearly $2.3 trillion since the peak of the Great Recession in 2009—increasing across almost all debt products to top $14 trillion in 2019.
Within three months FCI analyzed 3.3 million calls across sales, operations and servicing. The results helped the client increase sales conversion, reduce repeat callers and identify and improve call avoidance behaviors. The client A top 10 mortgage lender with operations in all 50 states, originating conventional, FHA and VA loans.
Firstsource remotely deployed a proprietary customer analytics solution in 2019 and scaled the solution in the wake of COVID-19, providing deep insights into more than 1000 associates who transitioned to a remote working model. The client The client is a full-service lender operating in all 50 states, with expertise in
In my last blog post, I covered how Intelligent Automation can help your organization become more agile and cost-efficient. In this post, I’ll get into three aspects at the heart of maximizing Intelligent Automation investments. When it comes to automation, mortgage leaders often obsess about reducing labor costs by focusing on
The economic pain from COVID-19 is real. The pandemic has exposed the mortgage industry to growing forbearance requests and defaults from borrowers as well as new regulatory mandates from the government. But it’s not been all pain and no gain for industry players. New data indicates a strong rate-driven demand
The mortgage industry is facing a perfect storm. The huge amount of uncertainty around the coronavirus pandemic combined with its economic impact is putting mortgage companies in a never-before-seen situation – increased pressure on both loan origination as well as default. On the origination side, mortgage companies have been hit
It’s 2010. Beth is ready to buy her starter home. She knows closing on her mortgage is going to be a long process. She is frustrated by the number of hoops she must jump through and the amount of tedious paperwork she must complete and sign. There’s nothing she can
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