CSS built the Common Securitization Platform on cloud technology to handle changing market conditions in real-time. The platform is scalable, flexible and adaptable. In 2021, the platform settled more than 11,000 wires per month (a 27% increase YoY) and administered 30 million loans with an Unpaid Principal Balance of $6 trillion. The technology handled more volume while providing critical support for homeownership relief programs, including ReFi Now and ReFi Possible. It also introduced enhanced functionality for greater ease of use and transparency for investors.
- It accomplished a 99% pass rating for all its business and technology Service Level Agreements through November amid record volume.
- It expanded its fully cloud native technology with the implementation of containerization, achieving a 30% operational cost reduction and automating over 65% of manual processes.