Implement a Faster, Lower Cost Document Retrieval Process for Mortgage Servicing

Client Need

A large servicer recently evaluated their internal processes for retrieving copies of recorded mortgages and deeds. They found that multiple departments each had their own document retrieval process, including Post Closing, Default Servicing, Lien Release, and others. Each department had their own set of retrieval sources including online websites, regional abstract companies, etc. This fragmented process did not leverage their total search volume, resulting in excessive cost. The client sought a solution to help them consolidate their internal efforts and remove complexity from their operation while reducing cost.

Solution

First American CoreLogic helped the client develop a single integrated process that included automated business rules for deploying multiple retrieval resources with multi-tiered pricing. When an order could not be completed with the least expensive option, it was seamlessly routed to the next option and so on until the order was satisfied. Thus, the client was able to use the least expensive option to satisfy the data or document request without incurring incremental costs with each unsuccessful attempt along the way.

Results

The client quickly received a seamless process that could be utilized by multiple departments without the need for internal staff to manually work each deficiency. Turnaround time was improved and costs were reduce because the client eliminated multiple searches for the same document.