Changes in regulatory and compliance legislation, resulting implementation challenges and the increasing cost of servicing, are issues creating disruption in the mortgage servicing industry—and they have significant financial consequences.
But servicers can take steps to address each of these challenges, including:
Outsourcing to third party specialists
Implementing cross-sale innovations
Even with increased regulatory oversight and labor cost management, technology and innovation can improve operational efficiency and labor productivity.
Successful servicers will be those that establish organizations capable of scaling and creating economies of scale that generate sustained profits.