Specialized Reverse Services

Tap into the reverse mortgage opportunity

Home equity – a valuable asset for older homeowners to support their retirement goals – presents a significant untapped market for lenders to broaden their product portfolio as well as their customer base. But in the face of tightening regulations and increasing cost-to-serve, lenders must streamline their processes and leverage technology-based tools to drive efficiencies and sustained profitability.

Drive profitable loan growth while staying compliant

With more than 25 years in the industry, Sourcepoint combines mortgage expertise with Robotic Process Automation (RPA) to offer end-to-end solutions and services across the reverse mortgage lifecycle, with a focus on seamless HUD claims processing.

  • Onboarding and MSR acquisition: Loan boarding, document indexing, MERS tracking, and document verification; RPA and OCR/ICR can be leveraged to streamline processes.
  • Routine servicing: Document administration, escrow monitoring, payoff, lien release and investor reporting.
  • Call Quality Monitoring: Uses a combination of speech analytics and traditional monitoring, and routine and default servicing audits.
  • Default servicing: Loss mitigation underwriting, document preparation, modification closing, and bankruptcy set up and monitoring.
  • Foreclosure: Pre-foreclosure checks, foreclosure referral, document management, claims package preparation, and document execution review.
  • HUD claims processing: Document pooling, initial review, creating, reviewing, resolving and updating curatives, final review, submission, and monitor and follow up on HUD status, including review, curative resolution and submission to NOVAD.

The result: variable cost structure, lower risks, increased market penetration, and agile HUD claims process for faster cycle time and higher profitability.

Stay Ahead

Client spotlight

One of the largest non-bank originators and servicers was seeking a cost-effective and scalable solution to reduce curative backlogs, increase volumes and submit rates of files to HUD, and support its growth targets.

Sourcepoint offered an industrialized solution to complete document packages logging via a secure Citrix connection, with the ability to process files utilizing offshore and onshore associates for curative efforts.

Our comprehensive document management solution underpinned by a seasoned team of professionals and robust governance enabled the client to:

  • Improve cost structure
  • Reduce turnaround time
  • Accelerate reimbursement of cash payments from HUD
  • Enhance productivity

Why Sourcepoint?

25+ years delivering market-leading solutions

Tap into our expertise - We work with the biggest names in the US mortgage market to deliver superior business outcomes

Global centers enabling 24/7 omnichannel experiences

Create a unified experience across channels and services - ranging from mortgage origination and routine servicing to foreclosure and default servicing

Data-driven approach & cutting-edge technology

Stay ahead with next-gen solutions underpinned by Robotic Process Automation, AI, Machine Learning, Advanced Analytics and more

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