As operating costs continue to rise across the mortgage industry, servicers are looking for ways to cut costs while also reducing loan defects and the risk of regulatory sanctions without impacting their performance.
If front-office account origination processes are the courtship and honeymoon in a relationship, then back-office onboarding and account servicing are the marriage. This is where customer data and documents are processed, cost efficiency can be realized, regulatory requirements are met, mortgage servicing rights can be bought and sold, and customer services can be improved.
How can mortgage servicers make loan onboarding and servicing better, faster and cheaper?
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