Declining origination volumes and stringent regulations are turning the spotlight on profitability and compliance, forcing lenders to tighten their post-closing process, and rapidly clear backlogs and secure the release of hold-back funds.
Leveraging our extensive expertise in managing the post-closing function, Sourcepoint offers a hybrid solution that combines automation with human resources to enhance efficiencies while reducing costs. Our comprehensive services can be customized to handle clients’ end-to-end post-closing requirements or just a select set of processes, based on specific needs. Our skilled and experienced professionals work with top tier lenders, leading mortgage servicing companies, and regional/community banks to streamline their existing manual, time consuming and error-prone processes.
Sourcepoint’s automated Post-closing and Document Management Application integrates with client’s Loan Origination Systems (LOS), and leverages workflow technology to optimize and re-engineer post-closing processes for improved flexibility and quality. The integrated system takes a proactive approach to retrieving missing documents, clearing exceptions, and re-mediating risk, ensuring same day collateral reviews and rapid document processing. In addition, it offers in-depth reporting and analytics for superior visibility, tracking and compliance. Based on their requirements, clients can choose from an array of delivery models, including onshore, offshore, hybrid and onsite.
Assessing the key factors for greater compliance and profitability
A leading national lender faced several challenges in its post-closing process such as heavy trailing documents backlog, delinquent pools, lack of reporting and increased repurchase risks. This resulted in regulatory reporting issues and CFPB findings and reputational risks.
Sourcepoint used a structured approach to solution design and deployment. We created a hybrid operating model, automated the follow up process, and streamlined post-closing review and trailing documents shipping. Additionally, we implemented a stand-alone fee review recording process and enhanced visibility through correspondent lender scorecard.
Our solution streamlined the lender’s end-to-end post-closing process, resulting in the following clear benefits:
Tap into our expertise - We work with the biggest names in the US mortgage market to deliver superior business outcomes
Create a unified experience across channels and services - ranging from mortgage origination and routine servicing to foreclosure and default servicing
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