From AI integrations to automation and customer retention, Kevin Cooke, Jr., Head of Strategy and Business Development discusses the future of mortgage servicing for PROGRESS in Lending Association. In this article Cooke gives his perspective on the following questions and beyond:
- How has the mortgage servicing industry evolved over the past decade, especially in response to regulatory changes and customer expectations?
- What digital platforms and software solutions are currently leading the mortgage servicing sector, and why have they gained prominence?
- How are artificial intelligence and automation being integrated into mortgage servicing processes, and what benefits do they offer to both lenders and borrowers?
- How are technology solutions enhancing the customer experience in mortgage servicing, especially in terms of communication, problem resolution, and ease of access?
- How is predictive analytics being employed in mortgage servicing to foresee potential defaults, manage risks, or even tailor services to individual customers?
- Based on current technological trends and the needs of the industry, what innovations can we anticipate in mortgage servicing in the coming years?
Read the PROGRESS in Lending article here for some impactful and insightful information on the year ahead in mortgage loan servicing.