Mortgage Software Solutions Blog

In the September 2013 issue of "Servicing Management" magazine, an article was posted called; "Decreasing The Cost Of Servicing Timelines With Technology" by Chris Michaels
The "opening line" for this article states; "Servicers that haven't deployed technology to speed the servicing pipeline are at greater risk for losses and non-compliance."
When I read this article, I was intrigued. It touched on the messages I have been voicing to prospects for years. While Chris Michaels was writing this from a default perspective.  I look at it from an overall "savings from technology" perspective.  Todays servicers must have flexibility in personal deployment and the processes they follow must be compliant. "Everything a servicer does and every decision that it makes can be open to scrutiny", Chris mentions in his article.
While I agree with the need to have a complete software suite, I am taking the liberity to interpret the message as; "a servicer needs to consider the whole mortgage platform as well.

• Can the software be safely and quickly deployed?
• Is the user applying the software updates quickly to ensure compliance?
• Is the system (software and equipment infrastructure) compliant with current banking regulations?
• Is your mortgage department ready for an audit?  Is your mortgage technology testing and certifications current?
• Consider the entire servicing process from origination through servicing, Including feeding the core system.  Interfaces can provide solid data flow through these unique systems.  Eliminate hand-keying mistakes and speeding up the loan process.
• Are all of your control points in place and actively managed.  Is the system environment and client data safe from others?
• Does the entire system work together? or are you still using excel to complete the process.

Access Business Technologies was again invited to exhibit at Harland's User Conference "Connections 2011", held at the Gaylord National at National Harbor, MD.