An 'automation first' strategy for mortgage servicers to optimize bulk loan boarding & servicing cost at scale
Strict CFPB servicing guidelines to manage post forbearance loss mitigation poses new challenges to how servicers manage borrower information during loan boarding process.
Inefficient manual boarding of bulk loans and servicing portfolios can lead to poor handling of borrower applications. This can cause poor customer experience, increased servicing cost and heightened compliance risk for mortgage servicers.
Download the whitepaper to see mortgage servicers can streamline bulk loan boarding in post forbearance period with an automation first strategy. Learn how servicers can:
Improve efficiency in servicing portfolio onboarding.
Reduce overall cost of servicing.
Process loss mitigation applications accurately and provide better customer experience.
Improve compliance with CFPB servicing guidelines and avoid penalties.
Automation first strategy for servicers to make bulk loan boarding process efficient & cost effective at scale.
Explore how automating document management workflows can help servicers streamline bulk loan boarding and improve customer experience in the loss mitigation phase.
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Improve efficiency of servicing portfolio onboarding
AI powered document recognition automation can help servicers - sort & index 100,000+ pages per hour, validate data with source and flag errors in loan files in seconds.
Reduce overall servicing cost
With a robust AI OCR based document processing software, servicers can eliminate manual review by 85% and reduce cost of loan boarding by more than 60%.
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Improve compliance with CFPB guidelines
Maintain an accuracy of 99+% on onboarded borrower files and manage document trails, disclosures etc in line with CFPB guidelines and bulletins.
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Automation first strategy for servicers to make bulk loan boarding process efficient & cost effective at scale.
This case study will help you understand how AI powered document indexing and data validation automation can help servicers not only reduce manual review of loan files by 85% but while improving cost efficiency and regulatory compliance.