Digital Mortgages and Streamlining the Servicing Process

Digital mortgages are continuing to expand into the servicing sector and now, servicers are looking for a way to get the best out of these tools.

"Servicers are still trying to figure out how they can best take advantage of the growing use of electronic notes and other digital mortgage tools by lenders and the secondary market," according to National Mortgage News.

"Broader use of third-party data sources and automation to streamline origination processes creates new opportunities for servicers to rethink their internal operations, as well as their interactions with borrowers."

Today it is all about streamlining all processes involved in the mortgage world. Just yesterday we reported that Freddie Mac was going full-steam ahead with new products to help build efficiency and digital mortgages are a prime example of just how well that can be done.

"'It's all about the ecosystem. A lot of this is driven by the originators, but for this to work out everybody has to be on board,' said Simon Moir, senior vice president at vendor eOriginal, said during a panel at the IMN Residential Mortgage Servicing Rights Conference in New York," according to NMN.

Everyone in the industry wants to be able to turn over more loans at a higher rate. The only way to do that is through a process that brings, accuracy, speed and efficiency.

To learn more about how digitals mortgages are continuing to creep into the servicing sector, click on the image above.

#Servicing #DigitalMortgages #Efficiency #Coexisting #Thirdpartydatasources

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