Servicing Software

Times are changing for the mortgage industry. For years, companies that built loan origination systems have been adapting their systems to support "point of sale" activity, so that homebuyers and loan originators can sit down at a place of their choosing to fill out a loan application. Traditionally, servicers did not think they needed so much remote access.

But these days, as Web-based systems and wide area networks become more commonplace, lenders are looking for technology that can be hosted from one location and used by servicing or customer service agents in other centers. They also want software that facilitates interaction with servicing vendors, including default specialists, attorneys and field service workers who may be far away from the servicing shop itself.

Hosted solutions, offered on a service bureau or application service provider basis, also give lenders the opportunity to take advantage of software upgrades without having to install new programs on each individual user's desktop.

And Web-based training, or webinars, are becoming a frequently used way to train individuals new to a system or application on the software. It allows many remote users to simultaneously interact with a centralized training facilitator.Technology has been changing fast in the mortgage servicing industry, and all indications are that the pace of activity is not going to abate anytime soon.

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