How to optimize the management and servicing of active loan files

Finance project spotlight: How to optimize the management and servicing of active loan files

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One of the nation’s largest mortgage companies optimized its servicing operations to improve speed and accuracy, create additional capacity, and deliver a better customer experience.

Speed and accuracy is the name of the game

Paper and electronic loan documents require fast, accurate processing to help you stay responsive, competitive and compliant.

However, many banks, document custodians, and mortgage servicing companies struggle with:

  • manual, inefficient processes that hamper customer service and decrease profitability and loan processing capacity
  • messy, disorganized loan vaults that create compliance risks and hamper loan pooling efforts

To avoid these issues and maintain the highest levels of customer service, one of the nation’s largest home mortgage and servicing companies wanted to optimize key mortgage servicing processes.

TAB helped make it happen with a holistic business process solution for loan operations.

The solution and why they loved it

Over the span of a few months, TAB deployed a solution powered by TAB FusionRMS loan inventory management software. TAB FusionRMS now helps the mortgage company automate key servicing processes, enable complex workflows, and track and manage over 5 million loans consisting of 25 million individual documents. TAB FusionRMS includes a dynamic interface with other enterprise systems for error-free integration and alignment.

The solution allows the mortgage company to:

  • improve the customer experience by reducing errors and speeding up access to files
  • service more files with existing resources
  • search its entire database of physical and electronic servicing files in seconds
  • provide online access to servicing files from any location
  • connect over 1,000 active users around the world, from the United States to the Philippines, and India,
  • helping them make critical decisions every day
  • track the entire activity history and chain of custody for each servicing document
  • easily manage system security via integration with existing Active Directory roles and permissions

After implementing the solution, the mortgage company reported that within three months, the savings on capital and internal costs had already paid for the system.

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