3 ways to tackle mortgage servicing pain points

It has not been easy for the mortgage servicing industry to recover and navigate the economic climate in the aftermath of the Great Recession. In addition to the surge of regulations and sky-rocketing operational costs, servicers now have to contend with the changing expectations of borrowers.

The best thing you can do is to take strategic steps that not only enhance the borrower experience, but also reduce operational costs. However, that can be difficult to do with so many challenges that stand in your way.

3 challenges

Let’s take a look at three pain points that dominate the mortgage servicing industry that you can solve with technology.

1. Manual and sluggish processes
Oftentimes, you receive large volumes of documents in a variety of formats and types to be manually sorted, which can be overwhelming. And, it doesn’t help when manual and sluggish processes lead to slower transaction times, which makes borrowers unhappy.


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