Mortgage servicing is a high-cost, manually intensive process, and the increasingly small margins mean lenders struggle to find the capital needed to fully embrace the digital era. In this research, HFS highlights how outsourcing can be a gateway to innovation and the adoption of emerging technologies — and revolutionize mortgage servicing.

1. From outsourcing to innovation:
An
partner to revolutionize
mortgage servicing
point of view

2. Adoption of mortgage technology
will take center stage in the rapidly
transforming competitive landscape

3. Lenders need to embrace
innovation in Mortgage Origination with the
latest and greatest emerging technologies

4. increasingly small margins act as
hurdles
but
for digitization funding

5. “If you’re a good servicing company, you strive to make a dollar per loan
per month. You pick up a penny; it’s a 1% game—there’s not dollars
waiting around.
– Chief Global Strategist from a
leading mortgage servicing provider
increasingly small margins act as
hurdles
but
for digitization funding

6. Growing cost pressures led this mortgage servicer
to explore outsourcing; that’s where its
relationship began with us

7. “When we started, we were trying to lower our cost to service
loans. We really were just trying to pick pennies up in front of a
steam roller.
– Chief Global Strategist from a
leading mortgage servicing provider
Growing cost pressures led this mortgage servicer
to explore outsourcing; that’s where its
relationship began with us

8. by partnering to outsource back-office tasks, we nurtured
a trusting relationship with the client and
became a critical partner for their mortgage
servicing business

9. The client explained that it based the keys to
relationship expansion on six factors

10. 1 A shared a vision for servicing excellence
The client explained that it based the keys to
relationship expansion on six factors

11. 2 A respect for the strong value we
place on employees
The client explained that it based the keys to
relationship expansion on six factors

12. 3 An open-minded and innovative
culture
The client explained that it based the keys to
relationship expansion on six factors

13. 4 An experienced team that never
overstates capabilities
The client explained that it based the keys to
relationship expansion on six factors

14. 5 A willingness to learn
The client explained that it based the keys to
relationship expansion on six factors

15. 6 The results: Delivering a critical mix of quality
plus year-on-year bottom-line results
The client explained that it based the keys to
relationship expansion on six factors

16. But the journey didn’t stop there. Once the client achieved
its cost-saving goals, it began asking
us what would come next

17. Once you achieve cost savings,
pivot toward innovation

18. The Mortgage servicer recognized the
need to leverage emerging
technologies and only
outsourcing was not the end goal

19. Instead,
outsourcing was how it hoped to generate the cost savings,
it needed to fund its innovation investments

20. In the last two years, the servicer has been working
with us to experiment with a
range of digital technologies

21. The Bottom Line: Innovation is on the horizon as
mortgage servicers revolutionize
their business- and outsourcing
can be a gateway

22. Learn more about the key considerations
for lenders to accelerate digital
transformation
Download the full research by HFS here:
https://www.firstsource.com/lp/hfs-pov/

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