The housing industry experienced dramatic growth during the COVID-19 pandemic. With fluctuating volume, mortgage servicers are still struggling to effectively scale their business. Tack on the challenges presented by not being able to connect in person, and it’s clear that servicers are navigating a unique set of obstacles. Unfortunately, it doesn’t look like the world is going back to normal anytime soon. As the COVID-19 situation evolves, the industry will continue to need a solution that keeps borrowers, lenders and servicers connected, regardless of where they’re located.
HousingWire: What challenges are mortgage servicers facing this year?
Philip Reinking: Mortgage servicers are facing substantial growth but a lack of talent in scaling business growth. We have deployed components and services that have changed our strategy while still offering boutique solutions to our clients’ growth goals.
HW: How is Allied Solutions tackling these challenges?
PR: For the last 20+ years, the lender-placed tracking methodologies have remained largely stagnant. Seeing a better way, Allied has revolutionized mortgage tracking. Our solution prioritizes the borrower experience and promotes a “self-cure” to insurance resolution with a multi-channel campaign that includes both digital and print touchpoints with consumers.
HW: How have you seen technology impacted by COVID-19?
PR: Much like the rest of the mortgage market, we’ve seen growth during the covid pandemic. RPA has been a necessity due to minimal in-person interactions during the pandemic in 2020 and has continued in 2021. It’s more important than ever for your bank to invest in solutions to reach new consumers and meet their expectations of convenient, modern banking and lending.
Our suite of full-service insurance monitoring and direct escrow disbursement solutions are turnkey and ready for implementation, but because we recognize each lender is different, we remain capable of crafting solutions to fit your needs.
HW: What is Allied Solutions doing differently than the rest of the mortgage lending market?
PR: Allied differentiates itself among the market by being innovative, forward thinkers, and continuing to grow in an ever-changing market while remaining dedicated to our clients.
Allied offers a hybrid solution that improves the touchpoints beyond first class postal mail with email, text, and APIs for mobile banking platforms. Additionally, we offer a flexible property tracking platform that tracks by property address and loan number, reducing letters sent and providing a better borrower experience. Lastly, we have a dedicated, in-house compliance department, maintaining regulatory changes to program implementation.