Ease Your Workflow and Scale Up Your Business With Mortgage Servicing Software

With the launch of consumer-friendly mortgage servicing software, the loan origination process has become quite effortless. No matter which part of the world a potential customer is located in, lenders can now seamlessly connect and engage with him/her through mortgage servicing portals. These easily scalable platforms allow financial organizations to bring together a number of business operations under a single roof, thereby helping them to ease their workflow. The mortgage technology used to create the channel between lenders and borrowers enables lenders to manage day-to-day work of loan processing, besides providing great user-experiences. Mortgage servicing portals are designed to comply with the regulations established by the government. They also help in maintaining the expected level of transparency.

Here are some advantages of processing loans through mortgage servicing portals –

  1. A mortgage servicing portal enables a lending institution to originate loans without any kind of inconvenience, while keeping the borrowers in loop. It ensures an effective administration and efficient management of mortgage loans. As already mentioned above, the portal follows all compliances and has a service-oriented architecture.

  2. The portal provides real-time connection with various applications associated with different industry standards such as servicing director, MSP.

  3. The mortgage technology used in building up the portal facilitates easy integration of the channel with the backend customer-relationship-management structure.

  4. The dashboard of the portal can be customized as per the choice of the lending institution.

  5. Lenders also enjoy the benefit of churning big data and highly-developed web analytics. They can also generate comprehensive reports from the portal.

  6. Besides integration with mortgage servicing software, the channel incorporates various kinds of customer needs, documentation, imaging and content management solutions.

  7. Recent trend reports have shown that an increasing number of people prefer smartphones to computers when applying for loans. Therefore, the mortgage servicing channels provide access through mobile integration. And not only mobiles, these channels are optimized in a way that they can be supported by all kinds of devices. This very feature in the portal has been instrumental in expanding the consumer base of lending institutions.

  8. Mortgage servicing platforms help in building trust towards lending institutions by giving borrowers access to all information related to lenders’ loan origination process.

  9. Through the portals lenders provide borrowers with a variety of payment alternatives such as one-time, partial, recurring, and added principal. They also provide virtual chat facility to customers. Reports such as e-statements, tax and other kinds of correspondence can be accessed by clients online, thus helping lending institutions to cut down their cost.

  10. Mortgage servicing portals assure investors an increased flow of cash. One of the reasons for this is the higher degree of autonomy provided by the portal to customers through the feature of self-management. These channels let investors do away with officers who, otherwise, would have consumed a lot of time and resources in nurturing customer relationships.

  11. The mortgage servicing portal can initiate automatic processing to take any fresh servicing loan on-board from business associates.

Author Bio:

Preethi vagadia is a business architect worked in Mortgage and Finance software department with top notch companies and has over 8 years of experience in Mortgage technologies ,Mortgage Loan Servicing software solutions,mortgage management software etc. She has also worked in several process improvement projects involving multi-national teams for global customers in warranty management and mortgage.