As a leading provider of products and services to the US mortgage industry, Sourcepoint is reinventing servicing with its comprehensive Mortgage Servicing Solutions suite. Sourcepoint delivers tangible results that matter most to servicers, including reduced operating expenses, enhanced borrower experience and retention rates, and the ability to drive digital transformation across the servicing lifecycle.
Backed by a global workforce of over 3,500 team members (with more than 1,600 dedicated to servicing), Sourcepoint offers holistic products and services from loan boarding through lien release:
Loan Boarding & Loan Administration: Equipped with the most comprehensive set of licenses among mortgage service providers, Sourcepoint is uniquely positioned to streamline the loan boarding process and reduce loan administration operating expenses. Sourcepoint leverages modern technologies such as Artificial Intelligence (AI) and Machine Learning (ML) to support document classification, indexing and auditing during loan boarding. Its global workforce of highly trained domain experts support various Loan Administration functions such as Correspondence, Escrow Administration, Investor Reporting and Cashiering.
Omnichannel Contact Center & Collections: Sourcepoint’s next-gen contact centers deliver 24/7, bi-lingual customer service and collections support. In addition to voice, Sourcepoint incorporates digital communication channels such as Text, Chat (AI powered virtual assistants such as Chat Bots) and Social Listening, enabling servicers to reduce traditional call center expenses by up to 20%, while empowering borrowers to communicate through digital channels. During 2019, Sourcepoint’s global contact centers fielded close to 2 million inbound inquiries and handled approximately 700,000 outbound calls. Additionally, a new Lead Generation service, offered from Sourcepoint’s Palm Bay, Florida operation center helped servicers boost Borrower Retention by transferring thousands of warm leads to loan officers.
Lien Release: Using Sourcepoint’s proprietary cloud-based technology platform and workflow automation tools, servicers can streamline the submission, research, preparation, execution and recordation of Lien Releases & Assignments. Documents are accurately created with audit checks, seamlessly notarized and executed, and rapidly recorded leveraging eRecording, wherever possible. Robust reporting ensures full transparency every step of the way. The result: superior quality and compliance, faster cycle times, and significant costs savings.
Quality Control & Compliance: Sourcepoint’s team of experts adopts a consultative approach to execute one-time or ongoing Quality Assurance (QA) engagements, strengthening quality and compliance. Servicers can choose from Sourcepoint’s system agnostic BPO and/or technology solutions and services – ranging from data integrity checks and call quality monitoring (CQM) programs to change management, mock audits and counterparty due diligence.
Digital Transformation: Sourcepoint helps servicers leverage intelligent automation tools such as Robotic Process Automation (RPA), Artificial Intelligence (AI) and Natural Language Processing (NLP) to automate workflows and enable digital communication channels between borrower and servicer. Its robust Image Stacx system utilizes AI, OCR, Computer Vision and ML to accurately recognize and classify documents within minutes. Recently, a top national servicer implemented its proprietary speech and text analytics product firstCustomer Intelligence (FCI) that incorporates NLP to provide daily insights into customer experience (CX) and agent performance and identify opportunities to deflect calls to digital channels. FCI also serves as a bridge to transition traditional call center operations into thriving digital-first omnichannel customer service centers.
““Sourcepoint understands the challenges mortgage servicers face today – pressure to increase margins, low borrower retention rates and consumers shifting to digital channels” commented Auvese Pasha, EVP and Chief Operating Officer. “We’re excited at the opportunity this solution suite presents in helping servicers reduce costs, enhance borrower experience and retention, and foster digital transformation.”