You don’t expect to find a lot of flexibility in highly regulated industries like home finance. That’s for good reason. But leading lenders and servicers know that small changes can have big results for borrowers that others ignore.

This has been a particular challenge for the servicing industry for a long time. Large portfolios of loans managed by small teams operating on razor-thin margins doesn’t line up with high levels of customer service or satisfaction. And yet, that’s exactly what today’s servicers need to do.

Once delinquencies begin to rise, as they currently are, expenses ramp up significantly, which means they have to do more for less.

The answer is better software.

That’s why MortgageFlex built a companion servicing system for its industry-leading loan origination system. Together, they have created the only truly unified platform for mortgage origination and servicing in the industry.

The Struggle with Traditional Systems

Traditional servicing systems were built when servicing was a simpler business. We didn’t have the same level of oversight and the cost of servicing loans in default wasn’t so high. Today, the business is more complex.

But it’s not complexity at fault when servicers find themselves stuck with loans that are hard to sell. And it’s not the complexity of the business that keeps originators who had their loans off to a sub-servicer from bringing that business back in-house and earning the extra revenue.

These challenges are symptomatic of older, rigid software systems that fail to offer the adaptability needed in today’s mortgage market.

Traditional systems often lock loan originators into specific servicing roles, making it difficult to optimize operations and respond effectively to changes in the market or in their business strategies.

Furthermore, these older systems often lack the functionality to efficiently manage loans through the default process, which require specialized workflows and regulatory compliance. This can lead to servicers needing to integrate separate ‘AddOn’ applications, creating a cumbersome and disjointed experience.

MortgageFlex takes a different approach.

Quick Implementation, Long-Term Benefits

We created our servicing system to offer loan originators the flexibility they need to support both the initial phase of loan servicing and the potential transition to long-term management.

The flexibility to toggle between short-term and long-term loan servicing allows mortgage professionals to manage their portfolios more effectively. It enables strategies that can lead to better liquidity management and more strategic asset holding, depending on the economic climate and market conditions.

In addition, our platform incorporates built-in functionalities to streamline the management of defaulted loans, including Bankruptcy, Foreclosure, and Loss Mitigation processes.

With our integrated servicing platform, loan originators can manage defaulted loans in-house without relying on sub-servicers. This capability not only simplifies operations but also retains more control over the servicing process, potentially increasing revenue.

This eliminates the need for costly and time-consuming integrations with separate applications, ensuring a seamless workflow and improved efficiency for servicers handling defaulted loans.

It also ensures that loan originators are no longer forced to choose between inadequate software and the costly development of custom solutions. It allows them to bring their servicing back in-house with confidence when they want to capture that additional revenue.

With MortgageFlex, servicers can handle all aspects of the loan lifecycle within a single, intuitive platform, eliminating the need for cumbersome integrations and improving overall efficiency.

One of the standout features of MortgageFlex is its rapid deployment. You can have this robust system up and running within weeks, not months or years.

Adapting to Market Changes with Ease

MortgageFlex also ensures compliance and efficiency throughout the loan’s lifecycle. Servicing experts on staff are ready to answer any questions and help new servicers come up to speed quickly. Training programs are available to bring new staff members up to speed quickly.

As the mortgage industry evolves, our platform stands ready to adapt to changing regulations and market conditions. Its built-in flexibility ensures that servicers can manage their portfolios effectively, even as the nature of loan defaults changes over time.

If you’re seeking a solution that aligns with the modern demands of mortgage loan origination and servicing and you don’t want to settle for outdated software that lacks the flexibility you need, reach out to MortgageFlex today.

Remember, it’s not just about managing loans effectively; it’s about having the freedom to make business decisions that are right for you and your business.

Find out more about MortgageFlexONE, the only unified origination and servicing platform in the industry. Visit MortgageFlex or reach out to John McCrea, today at 1-860-460-7418 for a live demo.