2012 Research Reveals Business Challenges and Solutions for Industry Professionals
There is no question that the mortgage industry is operating in a difficult environment. Mortgage servicers are bogged down by government-sponsored and private-label loss mitigation programs. These programs, which are mostly supported by paper worksheets or semi-automated spreadsheets, require adherence to strict guidelines which also negatively impact the industry's loss-mitigation efforts. Labor-intensive processes, outdated technology and a lack of integrated systems also hamper productivity, leading to long cycle times and missed opportunities.
Relief is available in the form of business process and technology management services. According to an online survey conducted by SourceMedia, sponsored by Genpact, 77% of mortgage companies say they are likely to consider using business process management and technology services in the future. These companies recognize the strides in productivity and efficiency that can be gained through a professionally managed program tailored to their specific needs. Download the Executive Brief to find out more about the current state of the mortgage industry, as well as the steps companies are taking to help overcome their difficulties.