It is becoming increasingly difficult for mortgage lenders and servicers to leverage a System of Record as “One Solution for Everything.” Today’s digital customer is challenging traditional models and increasing cost ratios, enterprises are looking to invest in system of engagement and system of intelligence to make their organizations more agile and nimble. Automation plays an integral role in how companies will transform their end-to-end operations to scale and compete in the digital future.
Approximately 60-70% of tasks in mortgage processes across value chain are prep tasks, are logical, replicable and are direct candidates for automation.
Cognizant’s Mortgage practice is focused on future proofing operations for our customers with design thinking, automation, process re-engineering, digitization and pervasive analytics across the entire mortgage lifecycle.
Cognizant Mortgage Services Corporation (CMSC) provides end-to-end and component based mortgage solutions to deliver differentiated outcomes to the mortgage industry. CMSC is a verified financial service provider by Nationwide Mortgage Licensing System and Registry
(NMLS - ID # 1687735).*
Took over and transformed an 8-year-old mature low cost center with 4000+ associates supporting 65+ US real estate processes touching over 15% of the total housing units in US, assisting client to process remittances over ~$92B annually in escrow tax payments. Powered by process re-engineering & automation.
Helping mortgage servicers file claims and recover their spend on delinquent properties (~ $150M per month) from GSEs and other private investors. Transformed claims operations through innovative use of technology across multiple dimensions (inventory management, data aggregation and claims preparation).
Deployed a state-of-art invoice document splitting, data extraction & processing solution. Processed over 8.5 million documents over 6-month period with 98% data extraction accuracy. Extended the solution at enterprise level to generate incremental savings.
Successful Intelligent Process Automation (IPA) follows an Enterprise Automation led thinking with strong focus on Lean enabled Operating Model design. Approximately 60-70% of tasks in mortgage processes across value chain are prep tasks, are logical, replicable and are direct candidates for automation.
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*To learn more and view the NMLS ID, visit the NLMS Consumer Access website. NMLS ID # 1687735. U.S. Toll Free # 844-848-5454.