Production volumes have been steep due to low interest rates. Lenders across the industry are overwhelmed by the surge in demand and have no choice but to find ways to scale up to handle the influx of applications. Servicers are also looking for ways to scale on their end, as borrowers continue to reach out with questions about forbearance, loss mitigation and next steps. However, the low-rate environment won’t last forever, and both lenders and servicers need to be able to keep their costs down while managing volume fluctuations once things start to normalize.
Business process outsourcing and digital transformation are proven solutions that more companies in the mortgage industry are turning to. This white paper will explore the benefits and use cases for these opportunities as they relate to lenders and servicers.