The market landscape is currently volatile with the mortgage industry facing consistent margin pressures. Mortgage banks & institutions are compelled to reduce operating costs in order to sustain margins, while parellelly complying with new regulations.
Today, mortgage banks face the challenge to innovate and design products that deliver value throughout - processing to origination to redemption, thereby improving service levels while reducing costs.
By partnering with a third party to provide non-core back-office operations, mortgage banks can reduce operating costs on their existing servicing portfolio while gaining more bandwidth to focus on their core business, which will help them get a foothold in an emerging market.
With an in-depth understanding of relationship banking, and the critical aspects of servicing mortgage loans to consumer and commercial banking clients, iTouchPoint's commitment is to deliver value by:
- Reducing the level of resources and capital dedicated to a non-core process and provide the advantage of engaging these resources to the bank's core services.
- Assist mortgage originators and service providers to concentrate on originating mortgages more profitably, while increasing their ancillary revenues and keeping costs in check.
- Extending services beyond the management of the mortgage approval process that will attract new customers and contribute to long-term relationship.
- Enhancing operational efficiency, supporting business requirements, and maximizing technology investment.
iTouchPoint's Mortgage offering includes:
ORIGINATION
- Loan Application Entry
- Calling for Initial Documents
- Pre-approval
- Collateral Checks
- Inbound/ Outbound enquiries
PROCESSING
- Telephonic Verification of Employment
- Telephonic Verification of Mortgage
- Telephonic verification of Deposit
- Verification of Credit Report
- Appraisal Title Checks
- Credit checks
- Property valuation
- Title checks
- Property Insurance checks
- Legal clearances
UNDERWRITING
- Risk analysis of real estate mortgage loan
- Checking qualifying requirements
- Credit evaluation
- Appraisal amount
- Checks for all other supporting
SECONDARY MARKETING
- Mortgage rate commitment to the client
- Mortgage rate updation
SERVICING
- Collection of Principle and Interest
- Collection of Taxes and Insurance
- Changes in the existing mortgage
- Customer Support (Call Center)
- Escrow Analysis
- Early and overdue collection calls
- Overdue payments processing
- Accounting and reconciliation
