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62 the fees associated with loan processes. e best way to counter these added costs is to invest in technology that streamlines back-end processes and reduces human touchpoints. Additionally, many process automation applications include reporting dashboards that allow lenders to gain greater insight into processes, determine if they are completed in a timely manner, and if they're not, hone in on any bottlenecks holding things back. ese real-time insights into the status of processes, completeness of records, and health of your systems allow managers and executives to take action when and where needed. In addition to increased visibility, these systems have auditing capabilities that let you easily view information, missing documents, or aging/expiring information, thereby supporting compliance initiatives and identifying the existence and accuracy of information. IMPROVE THE CUSTOMER EXPERIENCE A majority of the technology investment for the servicing industry is in applications that provide better methods of customer interaction. Because of customers' preferences to keep processes as digital as possible, the industry has seen an increase in applications and originations initiated through online and mobile channels. is same mindset extends to the servicing side as well. Customers demand real-time information and want this information available through a number of different channels. Digitizing the lending process is more important than ever to connect line-of-business applications to ensure they can pass information back and forth, as well as bring greater visibility and accuracy to data. Solutions like content- services platforms can act as an information hub or as a point of integration to connect disjointed systems and share data easily. is allows systems—and employees—to access or share information without searching multiple applications, thus reducing overall servicing costs, increasing margins, and providing the customer service necessary to keep loans performing at a high rate. BETTER INTEGRATE WITH OTHER TOOLS AND APPS Today's loan-servicing platforms are big, powerful applications that are the core of a servicer's business. Although key to an organization's success, the size and power of these applications come at a cost. Typically, that cost is their ability (or lack thereof) to rapidly change and update their platforms to better accommodate technologies like those listed above. As a result, core vendors, as well as their customers are looking for ways to integrate these technologies that aren't native to the core application. And those integrations need to happen faster and easier than they have in the past. One of the major issues many financial institutions face is siloed information, which makes it difficult for employees to locate, interact, or report on data when they cannot find information quickly. By integrating line-of- business applications—like origination systems— with a content-services platform, lenders are better able to connect people, processes, and data and eliminate the need to switch between multiple software applications. While digital transformation and technology modernization goals have pushed many lenders to update loan- servicing systems, many aren't ready to take the full leap yet. Content-services platforms can act as a bridge to modernization until lenders are fully prepared and can continue to deliver enhanced value after core replacement projects are completed. Origination as well as servicing platforms are also moving toward better integration models, utilizing restful APIs and other modern technologies that will be more commonplace from one application to the next. is will allow things like content-services applications to act as information hubs, sharing between the core systems and those third-party technologies that will be required to recognize the full breadth of digital transformation. WHERE MORTGAGE TECH IS HEADED e increasingly strict regulatory environment for loan servicing has many servicers looking for technology that will provide greater transparency and automation. Although the technology space is evolving and changing quickly, I see capture, workflow, and content services platforms as some of the key functionality currently shaping and transforming the financial services industry. ese help lessen the burden of regulatory compliance, reduce the growing origination and servicing costs, and enable greater customer experience on the whole. To achieve the fully digital vision that many organizations desire and to meet the expectations of their customers, today's servicers need to embrace core technology tools that will propel them on this journey of transformation. It's important to select tools that will not only make information digital from the beginning but also keep it digital throughout the process. ere's nothing more annoying for borrowers than a hybrid digital-and-paper process that only gives them visibility to part of the process. e solutions above–intelligent capture, business process automation, more channels to improve customer experience, and better integration tools—will help servicers become faster and more consistent and will improve the overall experience for their customers along the way. Be part of continuing the tech discussion at the upcoming Five Star Conference and Expo, September 16-18 in Dallas, Texas. To learn more, visit FiveStarConference.com. "To achieve the fully digital vision that many organizations desire and to meet the expectations of their customers, today's servicers need to embrace core technology tools that will propel them on this journey of transformation. It's important to select tools that will not only make information digital from the beginning but also keep it digital throughout the process."

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