Mortgage & Lending BPM Services

The Mortgage & Lending services business is prone to volatility in terms of volumes. Mortgage & Lending companies are looking to staff optimally and handle this variation without increasing the fixed costs proportionally. All this has to be done while adhering to stringent regulatory controls and reducing costs through process consolidation and improvement.

WNS has been providing Mortgage & Lending origination and servicing capabilities to a variety of financial institutions that are headquartered in the U.S., U.K., South Africa, and Australia. We have a deep understanding of the service delivery requirements in many different legal jurisdictions and cultures as our clients include both banks as well as companies that specialize in origination, underwriting and servicing.

We manage over 100+ distinct processes for Mortgage & Lending clients from loan origination, underwriting, closing, and loan servicing. Our organization has delivered end-to-end services including high-end and lower-end voice, data, and blended services such as document fulfillment, originations support, underwriting, escrow and claims management, closing, servicing, default servicing, and customer service.

With deep Mortgage & Lending domain expertise, WNS has been catering to the needs of mortgage lenders, retail lenders, wholesale lenders, investors, lender services providers, servicers and private mortgage insurance companies. Our portfolio continues to evolve as we continually migrate and deliver higher-value processes in this domain.

Our areas of expertise:

Origination –

• Phone-based Qualification
• Application Processing
• KYC Checks
• Pre-Qualification Verifications
• Validation of Documents
• Credit Risk Assessment
• Rate Quotes and Locks
• Loan Document Indexing
• Order Collaterals Appraisal, Title, Hazard & Flood
• Good Faith Estimate

Processing & Underwriting –

• Underwriting
• Clear Loan Conditions
• QC and Fraud Audits
• Policy & compliance audits
• Credit Verification
• Truth in Lending disclosures
• Notice of Loan Approval

Closing & Funding –

• Draw Closing Documents
• Condition Validation
• QA and File Audits
• Order Wires
• Title Policy Creation
• Title Examination
• Correspondent Lending
• Trailing Document Retrieval

Maintenance & Servicing –

• Loan Boarding
• New Loan Audit
• Payment Processing
• Claims Processing
• Lien Release
• ARM Loan Audits
• Escrow and Tax
• PMI / MIP
• Customer Service

Secondary Markets –

• Post-Close Audit
• Due Diligence of acquired loan packets
• Analytics / Investor Reporting – MBS

WNS delivers Mortgage & Lending services across the entire lifecycle since 2006 covering the landscape of loan back-office and front office operations. Some of the benefits delivered through transformation solution in the Lending LoB are:

• Lease & loan set up – Automated Information capture based on digital inputs from origination to underwriting to operations
• Loan Administration – Automation of diverse activities through digital inputs for schedule changes, payments and advances, customer service, etc.
• Credit Decision– Automation of credit scoring for retail & mortgage loans based on built-in checklists & formulae
• Built-in controls leading to efficiency & enhanced checks– Optimization of dual data entry requirements considering built-in checks & controls for credit decision making
• Financial statement information capture – Consolidation of information of financial statements from unstructured files into structured templates to facilitate credit scoring & underwriting

Value delivered to our clients:

• Reduced loan reject rates from 30% to 5%
• Under 1% kick-back for the mortgage packets on the Post Closing end against an industry benchmark of 15%
• An in house tool implemented by WNS resulted in a reduction of 33% error and improvement in AHT from 30 to 10 Mins
• 60% reduction of time spent in resolving queries for the closing department