ThoughtFocus Drives Back-Office Efficiency and Growth for a Leading Credit Services Organization

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Challenge

Improve back-office processing

A leading provider of mortgage credit and data validation services to the mortgage lending industry was looking for a partner to manage and improve their back-office processing. Specifically, the client sought a partner that would provide a variety of back-office processing services at an optimized cost, including management of flood zone determinations by identifying risk level, and credit reporting for Supplement Verification. The ask was for a partner with existing domain expertise in flood determination.

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Solution

Strong domain expertise delivered

ThoughtFocus came on board due to the strong domain knowledge in title insurance and credit rating as well as extensive experience in flood insurance and back-office processing. ThoughtFocus started the engagement with the client by providing flood determination services. ThoughtFocus was then asked to provide additional support in credit verification, processing merger reports and supplement verification, including Verification of Income (VOI), loan credit verification, and criminal background verification. With the improved back-office efficiency, the client experienced an increase in customer queries.

Results

20 - 25%

Faster Processing Times

60+

FTEs In Philippines

130

FTEs In India

IMMEDIATE

ROI

ThoughtFocus was selected due to their strong domain knowledge in title insurance and credit rating as well as extensive experience in flood insurance and back-office processing.

Timeline

2016

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Provided flood determination services and expanded services into credit verification.

2017 - 2018

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Built the entire buyout system to automate Non-Performing Loan (NPL) buyout processes, reduced manual effort, and decreased costs.

2018

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Scaled to meet the increasing customer queries by providing call management support from the Philippines. Optimized and reengineered additional back-office processes.

2019 - 2021

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Provided seamless services and integration.

Benefits

Flexible technology partner

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Provides a simple, accurate, and painless process for fulfilling flood zone determination compliance needs.

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Client manages additional growth and volume without any major impact on the internal cost structure, thus generating additional revenue.

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Client experienced an immediate Return on Investment (ROI) with process optimization.

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During an acquisition, ThoughtFocus was able to provide seamless services to the merged entity.