MORTGAGE PROCESSING END TO END SERVICES
About our Client: The client is a premier provider of end to end Mortgage Processing Services. The company links us with the Borrower and with various Lenders to keep the loan process moving till funding. Kensium makes all the document transfers thru secure hosting with the help of our client which increases the borrower trust that their personal documents are safe. Kensium BPO is been engaged for all the process for loan processing for a huge number of loans.
By the numbers…..
- 45 loans per month with end to end process
- 4 dedicated resources to move the process smoother.
- Proper Back up plan with additional trained resources apart from the 4 dedicated resources to keep the file moving in case of disputes
Challenge: In November / December 2019, as it’s a Christmas we have been loaded with multiple loans. Hence client contracted Kensium BPO with a unique requirement to have calling process along with the email communication with the borrower / loan officer / Account Executive and with the Underwriter in order to move the loans faster before the holidays. Our client had stringent security requirements that had to be addressed before the project could get underway.
Mortgage Loan processing is a tedious process requiring a thorough document by document review to close multiple conditions which are requested by the lender before the funding. Kensium professional takes all the important information about the borrower and their property / occupation and with their tax returns and index those documents based on the scenario of the documents and secure the information and document those into the secured application. This crucial process will be taken care by experienced hands to ensure an accurate end product. After Identification/segregation of the files we will login the loan with the suitable lender and keep moving the loan. Once the underwriter comments on the documents submitted in the name of “Conditions” we provide additional documents to clear/support those questions in conditions and make the questions/conditions close to move the loan further and make the borrower documents apt to the requirement of the Lending Firm. In case at worst scenario for some questions borrower would not be able to provide supporting documents, for these case we analyze further about the borrower individual documents and move the loan to other lender in which we can move the loan easier (This movement of loan from one lender to another lender still gets the same privilege of the interest % which borrower is looking for).
Solution: Working directly with firm’s Information Security officers, Kensium’s IT staff underwent an exhaustive security assessment to assure 100% compliance. Upon completing the assessment, Kensium’s score of 99.9% which is far exceeded the threshold required from our client. In parallel with the security audit, an experienced team was deployed and a custom workflow designed that would push the results of each step into individual buckets based on the end to end processing requirement.
Results: Over a period of 8 weeks, the team reviewed 45 loans with approximately 4500 supporting documents for these loans for identifying and closing the loan to finding. Out of 45 loans we have closed the maximum number of loans as per our client request and our client was too happy as the results provided were more than their requirement. All work was done in an ISO 27001, GDPR compliant facility which exceeded the security standards set by the Client and has led them to call on Kensium repeatedly since.