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In your opinion, what are the most
significant challenges default-servicing
professionals face today? I think one of
the main challenges facing default servicing is
a lack of standardization. Not having unified
communication creates silos that slow down
the process, duplicate efforts, and ultimately
increase costs. Now is the perfect time to start
looking at what's known as the "cradle-to-
grave" philosophy. is philosophy refers to
unification and/or re-use of mortgage title-
related products in aspects of the foreclosure
and REO departments to help reduce costs and
increase efficiency. For example, if a property is
moved into REO for handling post-foreclosure
sale, then the foreclosure commitment could
be converted to an Owner's Title Policy (OTP)
that could be procured very quickly and cheaply
using the same title commitment that was
ordered at the initiation of foreclosure.
As a Radian company, ValuAmerica is part
of a trusted network of service providers that
span the default continuum. Further streamlin-
ing those services will allow us to provide the
most optimal experience for customers.
How are new tech tools helping to
automate workflow and smooth the
compliance process? Technology is a
game changer for our industry. I've always
embraced that head-on because I believe
technology allows us to disrupt markets and
build operational teams and processes into a
cohesive workforce. Staying on top of the latest
technology is the key to providing best–in-class,
up-to-date, immediate services.
Homebuyers want to know their investment
will be protected and their experience will be
seamless. With services like e-closing and e-
notaries, the compliance process is streamlined
and more secure. On the back end, technology
enables better workflow processes, and we want
to use that to benefit our customers and their
consumers.
"Technology is a game
changer for our industry.
I've always embraced
that head-on because I
believe technology allows
us to disrupt markets
and build operational
teams and processes into
a cohesive workforce."
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