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| Mortgage Services |
Approximately one-half of the largest mortgage lenders already participate in business process outsourcing, and that number is projected to rise rapidly given current market pressures. Practically all players in the mortgage industry – including lenders, servicers, insurers, document preparation providers, title, and appraisal companies - can benefit tremendously by taking advantage of our domain expertise and entering into a BPO partnership with Motif.
Wide Array of Mortgage Services
Motif is particularly expert at implementing business processes that are both rules-based and require judgment, i.e., they cannot be fully automated via technology. The mortgage industry features a wide array of such business processes. These processes—all excellent candidates for BPO—include:
- Originations and Closing: Application processing, loan pre-underwriting, clear conditions, document preparation, verification of loan disbursements, coordination of closing (with lender, closing agent and borrower), and HUD review
- Loan Servicing: Delinquency processing, collections processing, foreclosure processing, bankruptcy processing, inbound customer support, and investor accounting and reporting
- Support Services: Document preparation, quality control, title insurance research, sub-servicing, releases and conveyances, and mortgage insurance maintenance and claims.
Motif works closely with each client to shape an offshoring approach that meets their specific needs.
Significant Cost Savings and Quality Improvements
Mortgage lenders and servicers typically experience cost savings of up to 50% when outsourcing their business processes. For that reason alone, mortgage lenders and servicers should seriously explore BPO.
In addition, unlike many cost saving opportunities, BPO also produces meaningful quality improvements. Sophisticated reporting capabilities can provide management and loan officers with 24/7 access to loan pipeline information. In addition, the “time shift” between US and offshore locations allows for faster processing, improving pull-through and shortening turnaround time.
Case Example
A mortgage lender needed to reduce costs and achieve a faster turnaround time for loan application processing. By working with Motif, the lender was able to reduce its processing time by 39% and reduce its costs. Motif achieved this by breaking the loan application process down into 9 sub-processes, which could then be performed in parallel and by different agents. In addition, Motif developed a web-based tool that provided the client’s loan officers with real-time access to files. This increased loan officer control over and satisfaction with the process.
Mortgage Services Practice Leader
Motif’s mortgage services practice leader is Paul Holmes. With over 30 years experience in financial services and mortgage banking, Paul served as CEO of Mellon Mortgage and also held executive positions at Bank of America, KPMG, Greater Bay Bank, Bank of Boston, and EurekaBank.
The Motif Difference
There are many BPO providers, but none that can match Motif’s results in terms of client references and retention. Our results are consistently superior due to our uniquely open and results-oriented culture, flexible client partnerships, and world-class management team.
- Open, Results-Driven Culture: The right culture is critical for BPO providers given the crucial role that well-informed judgment plays in client transactions. Our founders developed a unique culture that mirrors the best practices found in leading U.S. companies. These practices result in 1) hiring the “best of the best”; Motif agents are typically college or professional level graduates and only 10% of applicants receive offers; 2) results-oriented employee development, accomplished via high performance standards and real-time performance data availability; 3) motivated, innovative employees, spurred by high employee stock ownership and a non-hierarchical work environment; and 4) lower-than-average attrition rates, ensuring a knowledgeable workforce and deeper domain expertise.
- Flexible Client Partnerships: We will tailor your BPO solution to fit your exact needs. We are flexible on the front end, gladly working with you to create a risk free pilot or a contract that features gain sharing, risk sharing (e.g., significant penalties for missing service level agreements) or high volume variance thresholds. Our flexible staffing models allow us to ramp up rapidly, handle overflows, and design small, nimble teams. Finally, we are flexible with regard to learning with our clients. We openly share newly developed tools and enjoy exploring proof-of-concept experiments.
- World-Class Management Team: A recent survey showed that 40% of companies believe that “lack of industry knowledge” is a significant disadvantage for most BPO vendors. Our leadership team proves otherwise. Motif has assembled a team of senior executives with over 70 years of U.S. experience in companies such as McKinsey & Co., Deloitte Consulting, eBay, Intel, Sun Microsystems and AT&T. Our executives are always available to our clients and work closely with them to provide strategic guidance.
To learn more about The Motif Difference, please click here.
Contact Information
To learn more about our mortgage services and partnership opportunities, please email Paul Holmes at paul.holmes@motifinc.com or call Paul at (925) 788-2212.
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| Contact Details |
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| Client Testimonials |
| “I refuse to use the word ‘outsourcing’ when describing our relationship with Motif. Motif is a true partner in every sense of the word. They have had a very positive effect on operations by helping us decrease our opening times and increase our accuracy. Motif is everything that was promised, and we look forward to a long and positive relationship with our true mortgage ‘partners’.“ |
- COO,
A leading mortgage bank |
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