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Lakshmipriya Das

Functional Consultant, Banking, Financial Services and Insurance, TCS

Kalpana Palaniappan

Domain Consultant, Banking, Financial Services and Insurance, TCS

Blockchain paves the way to seamless MSR transfers 

Ensuring a smooth process for purchase and sale of mortgage loans and their servicing rights in the US mortgage market is important for maintaining liquidity and revenue generation. The existing process, with its inherent complexities and error-prone manual interventions, can potentially have adverse outcomes for borrowers. As a result, regulators have come down heavily on servicers. The industry needs to find a way to enable smooth transfer of servicing rights and ensure service continuity while also complying with regulations.

In our view, mortgage servicers must examine the possibility of adopting blockchain to minimize the complexities and risks involved in the transfer of servicing rights. This will require servicers to:

  • Evaluate the challenges in the existing landscape
  • Get buy-in from all the stakeholders
  • Become blockchain-ready by initiating the required technology and infrastructure changes

About the author

Lakshmipriya Das
Lakshmi Priya Das is a Functional Consultant with the Banking and Financial Services (BFS) business unit at Tata Consultancy Services (TCS).
Kalpana Palaniappan
Kalpana Palaniappan is a Domain Consultant with the TCS BFSI business unit. She has worked with a leading mortgage servicing organization prior to joining TCS.