A Human Intervention Automation Balancing Act

Today real estate asset management is a complicated endeavor that demands technology based solutions and higher levels of automation of loan processing at loan closing and all the way to securitization. There is no way around it.

The overall mortgage market effort to expand the use of technology and automate loan processing that started years ago is now in full swing and driven by various factors. The most obvious: millions of loans and borrowers demanding attention and processing time; the increasing complexity of solutions such as loan modifications; regulatory updates that constantly change compliance demands.

Effective solutions to the above appear to take certain obvious paths. Peer collaboration and partnerships between financial services providers aims to step up the degree of servicing automation, expand or create higher loan processing efficiency.

Electronic signing still is a popular topic among servicers and vendors. Lessons learned over the last three years, secondary market investors say, include providing loan-level information, which only technology can turn into an efficient process. Sometimes a portal like HOPE LoanPort designed to assist counselors file complete document packages and solve loss mitigation issues with borrowers does the trick. A never-ending challenge is that of keeping the right balance between human and tech interaction in loan servicing.

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