The Client
Medium sized Mortgage Servicer
Challenge
- Unable to manage reconciliation of a large portfolio for more than 35 fields
- High defect ratio
- High Labor costs involved
- Unable to meet regulatory requirement to manage monthly review
Solution & Execution
- Provided end to end automated solution which takes input files from servicer system and MERS systems and compares fields
- System can remove false positives
- User friendly interface to reduce loan review time by 50%
- MERS membership taken to integrate MERS output directly to MERS
Value Delivered
- End to End automation reducing manual effort by 5000+ man hours each month to keep 100% portfolio review each month.
- Monthly automated review performed on loans with 400K plus portfolio with cost saving of up to USD 200K per annum in terms of manual efforts
- Portfolio defect rate reduced to zero except defect occurring due to new loan additions
- Automated file generated loaded in MERS
- Regulatory compliance maintained 100%
