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Enabling lenders and servicers to bolster loss mitigation efforts and prepare for spurt in loan defaults
The impact of COVID-19 on mortgage industry has been far-reaching and borrowers are feeling the pinch. Mortgage delinquencies the world over have witnessed an increasing trend, and in some cases, have hit record levels. To help distressed borrowers, governments across the world have introduced forbearance or payment relief measures. While in the short run, these relief programs will reduce the burden on borrowers, as time goes by and financial problems accrue, loan defaults are likely to rise. Lenders and servicers will therefore need to streamline the default servicing process and be prepared to mitigate and address loan defaults.
TCS is one of the largest providers of mortgage services with close to 20 years of experience and over 12,600 associates supporting mortgage and home lending firms across business process operations, digital and technology solutions, and advisory and consulting services. We have developed deep domain knowledge and expertise across the value chain by virtue of working with multiple leading lenders, banks, and servicers across the globe.
TCS offers the following services in the mortgage space:
Digital mortgage services:
Predictive analytics using data science to:
Business process services:
TCS has played a pivotal role in helping mortgage firms across the globe achieve desired business outcomes through varying economic cycles. Our proven expertise in working with banks and non-banks, specialized lenders, servicers, and allied industry players makes us strongly positioned to understand and align our services to customer requirements.
TCS’ services help banks and mortgage firms:
Fast-tracking mortgage originations through a ecosystem model
Climate data collection framework for effective risk management
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