Unpredictable interest rates, an evolving regulatory environment, and shifting borrower demographics are just a few challenges facing today’s lenders. Meeting those challenges has resulted in rising origination costs and lower margins. To be successful in today’s environment, lenders must innovate to stay ahead of the competition.
Iron Mountain’s Mortgage and Loan Solutions can help you tackle any challenge with its innovative products and services designed to reduce your costs as well as keep you compliant.
With our Mortgage and Loan Solutions you can:
- Implement automated processes leveraging leading edge technology
- Reduce regulatory risk
- Strengthen chain of custody
- Implement scalability and a variable cost model
- Reduce costs
- Manage large volumes of documents in a hybrid environment
- Integrate new technology with legacy systems
Tackle Mortgage and Loan Challenges Head On
Iron Mountain Mortgage and Loan Solutions provides a broad array of services and solutions that can be tailored to meet your company’s requirements and help you manage the records critical to your business. Accelerate your digital transformation by capturing, classifying, indexing, enriching and visualizing your loan data regardless of format – physical or digital. Replicate your file room in a secure, offsite environment in order to manage your vast number of documents and records. Digitize your paper-based information and allow fast, easy and environmentally friendly retrieval of files. Evaluate your current processes and transform your workplace to better manage loan records and information.
Mortgage and Loan Solutions Use Cases
A bank in the US was experiencing rapid growth in loan origination and as a result found it difficult to keep up with incoming trailing document review and disposition. The bank did not have the resources to manage a backlog or meet upcoming demand.
Iron Mountain was able to stand up an intake center to handle new volume. Backlog volumes were quickly remediated. The bank was able to leverage existing courier routes to custodians to increase file movement and final disposition.
- Quickly remediated a backlog of trailing document packages.
- Leveraged Iron Mountain’s scanning capabilities to digitize documents efficiently.
A top lender was selling a large portfolio of mortgage assets. All mortgage collateral required review before the mortgage transfer date.
Iron Mountain quickly stood up an operation with extensive volume processing requirements. All content was reviewed following client specifications. An exception management process was developed to quickly address any issues identified.
- Met high processing volume needs in a short period of time.
- Streamlined content review process using best in class document management methods.
A top mortgage servicer sold a facility that contained space for temporary safekeeping. The servicer was looking for a new temporary safekeeping facility.
Iron Mountain quickly set up an open shelf file room space meeting industry specifications. Processes were set up to meet all inbound and outbound asset management activities required in a default situation.
- Decreased real estate needs for the servicer.
- Improved operational efficiencies using best-in-class document management processes.
A top U.S. lender was experiencing high prepayment volumes creating a backlog for final collateral disposition.
Iron Mountain configured a process to quickly address the backlog and manage the fluctuating volume going forward.
- Met strict SLA requirements with fluctuating asset volume.