Servicing
With the use of digital agents and bots in key areas of the business, LoanCare, the nation’s third largest subservicer, is building the first digital servicer in the mortgage industry. LoanCare’s proprietary Eureka Cloud Data Platform is a servicing data access platform that delivers hundreds of data extracts and report deliverables every day for clients.
Eureka quality control bots use robotic process automation technologies to perform CMAP and other data quality validation controls, to alert LoanCare to quality issues, to be resolved and resubmitted; if there are no issues, the bots will deliver the data deliverables to the correct secure file transfer folder for output. In 2017, LoanCare experienced robust growth with revenues up 42% over 2016 and serviced more than 1.1 million loans, totaling over $232 billion.
