Servicers bear the twin responsibility of ensuring regulatory compliance and providing superior escrow services amid several challenges. These include exhaustive regulatory guidelines, varying borrower circumstances, geographical spread of counties, and delays in processing, all of which impact customer experience.
An integrated platform connecting servicers, tax agencies, insurance agencies, and home owners’ associations can help servicers and other stakeholders leverage digital disruption to improve service delivery and in turn drive customer delight. Such a platform will:
Support better integration between multiple sources
Generate regulatory notices intuitively
Trigger preemptive compliance alerts
Drive document custodianship of all interested parties