Sourcepoint Blog

A Compelling Strategy: A case for a hybrid approach to outsourcing

The mortgage industry is staring down a multitude of challenges in 2021 and beyond – from increasing capacity constraints and talent shortages to changing borrower expectations, growing loan volumes and post-pandemic compliance. The good news? There are multiple strategies that can help lenders and servicers excel in this daunting environment – the most compelling of […]

  Mortgage Banker
Thriving in the post-pandemic era – Part 3: Identifying the right Intelligent Automation partner

This is the final post in a three-part blog series on leveraging Intelligent Automation to drive competitive success in the next-normal. If you’ve missed part 1 or part 2, give them a quick read. Even today mortgage processes continue to be predominantly paper-heavy and labor-intensive with mortgage processors interacting with multiple disparate systems. The result: […]

  Intelligent Automationpost-pandemic era
Thriving in the post-pandemic era – Part 2: Realizing the true potential of Intelligent Automation

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 highly structured processes across the […]

  Intelligent Automationpost-pandemic eraUnlocking value
Thriving in the post-pandemic era Part 1: Unlocking value with Intelligent Automation

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 for July indicates a strong rate-driven demand for home buying, […]

Mitigating the COVID-19 Impact for Mortgage Companies

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 by a double whammy: staffing […]

  COVID-19mortgage companies
Supercharging default servicing operations for the COVID-19 era

Widespread forbearance and delinquencies, at never-before-seen levels, are upending default servicing operations across mortgage companies. In mid-May, overall forbearance stood at 8.16% while forbearance of Ginnie Mae-backed mortgages touched 11.26%, according to the Mortgage Bankers Association. Fannie Mae has also indicated that the percentage of its loans in forbearance could rise to 15% in 2020.  […]

  default servicingSourcepointSupercharging
3 reasons why omnichannel contact centers are critical for modern lenders

Today’s borrowers expect the same speed, convenience and personalization from their lenders and servicers as they are used to with leading retailers such as Amazon and Apple. A recent McKinsey survey reveals that for most borrowers ‘exceptional customer experience’ is almost as important as getting the ‘best rate’. As digital technologies enable customers to engage […]

  contact centersOmnichannel
4 key servicer moves to enhance borrower experience

Modern borrowers, accustomed to customer-focused retail experiences, demand similar lending experiences. However, a recent survey shows that overall borrower satisfaction with lenders fell during 2019.  According to J.D. Power’s 2019 U.S. Primary Mortgage Origination Satisfaction Study, overall borrower satisfaction fell from 869 (on a 1,000-point scale) in the first quarter to 853 in the second […]

The future of mortgage lending: what will it look like in 2030?

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 do but wait for the […]

For lenders looking to streamline HUD claims processing, partnering with an experienced provider is the answer

Reverse mortgage assignment processing is tedious, cumbersome and demands stringent compliance with evolving regulations. There’s not much you can do about that. What you can do is equip your organization to seamlessly handle processing using the right technology tools and expertise. Consider the case of a large non-bank servicer that struggled to maintain a healthy […]

3 takeaways from an MBA Annual19 panel discussion – Hiring Mr. Roboto

Last week, 4,000+ movers, shakers and innovators from the mortgage industry gathered in Austin at the MBA Annual Convention & Expo. More than 100 expert speakers were invited to address this large gathering of industry professionals over a four-day period, October 27–30. Roy Wittig, Sourcepoint’s Vice President, Product and Strategy, was one of them. He […]

Sourcepoint helps lenders and servicers carve out a digital path

As the industry works to find efficiencies to make up for higher origination costs, there’s a great deal of pressure from the market to invest in the borrower experience and implement a digital strategy. But building a digital platform on top of fragmented systems and disjointed workflows can be daunting. Sourcepoint helps lenders and servicers […]

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