Recently, Sourcepoint launched its Lien Release and Assignment Service, a proprietary cloud-based Business Process as a Service (BPaaS) platform enabling mortgage lenders and servicers to automate workflows, mitigate compliance risks and improve customer satisfaction.
The lien release process is the final step in the mortgage loan payoff process. Today, lenders face significant losses and reputational risk as millions of documents are rejected by County Recorders each year due to documentation errors. In addition, lenders must comply with mandates issued by regulators such as the OOC and CFPB as well as state-specific requirements. With Sourcepoint’s Lien Release and Assignment Service lenders can now equip themselves with a digital-enabled platform that streamlines tedious processing and ensures compliance – in all 50 states, covering over 3,500 recording jurisdictions.
The solution, underpinned by experienced lien release professionals and a technology-enabled workflow, spans the entire process lifecycle – from receiving a list of loans in various formats and researching mortgage recording information to preparing and recording documents, handling exceptions and shipping recorded copies to clients. By leveraging Sourcepoint’s next-gen lien release solution, lenders can reduce their costs and accelerate cycle times to ensure that their releases meet statutory deadlines. The outcomes are superior compliance, customer satisfaction and profitability.
“As the mortgage landscape continues to shift to meet the growing customer demand for rapid and seamless processing, lien release and assignment requirements will increasingly be addressed using automation and technology-driven workflows,” said Auvese Pasha, EVP & Chief Operating Officer. “With the launch of this new service, Sourcepoint is reimagining lien release and assignment processing using next-gen technology enabled services, layering in automation capabilities to help lenders drive end-to-end process efficiencies, rigorous compliance and real-time reporting.”
Sourcepoint is a premier provider of productized solutions to the U.S. mortgage industry. With global delivery capabilities, we have a diverse talent pool to deliver deep mortgage domain expertise across our solution set.
Our domain experts incorporate industry best practices and cutting-edge technology to deliver timely services and assure maximum quality and customer satisfaction. Our solutions help you reduce operational costs, increase customer satisfaction and improve eﬃciency, allowing you to focus on your core competencies. We measure our performance based on the success we enable for you.
With more than 25 years in the business and an extensive team of industry veterans, we have the experience to help you gain a competitive advantage.
Contact us or visit http://www.sourcepointmortgage.com/lien-release-assignment/ to learn more.