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Property Preservation: Ensuring Compliance, Creating Value 

 

Rajesh Chhatriya

Domain Expert, Banking, Financial Services, and Insurance, TCS

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A platform-led approach to move from reactive to proactive management

Property preservation does not only involve keeping the property well maintained, but also ensuring compliance with local rules and regulations. This is critical to the property value and, in a way, the mortgage servicer’s reputation. However, there are various challenges that vendors face while securing, preserving, and maintaining properties. These include, ever-changing regulatory environment, geographical spread of vendors, lack of documentation proficiency, and high investment required in technological infrastructure.

We believe next-gen technologies hold the answer to the woes of mortgage servicers. A technology-led integrated platform will not only help them counter these challenges, but also ensure compliance and improvement management of the overall process. Key features of such a platform are:

  • Workflow management
  • Analytics for quality assurance and vendor management
  • Integrated communication channel

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