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| Mortgage Services |
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| 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. |
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| Wide Array of Mortgage Services |
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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
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| Motif works closely with each client to shape an offshoring approach that meets their specific needs. |
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| Significant Cost Savings and Quality Improvements |
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| 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. |
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| 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. |
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| Case Example |
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| 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. |
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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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