Digital Transformation

Articles

3 mins

Servicer Empowerment at Every Level

If You Integrate It, They Will Come.”

Suppose you’re a manager in the default resolution department of a mortgage servicing company. There’s a good chance that you require some talented people to help resolve the many loss mitigation applications your department receives daily. 

If that’s the case, you’ve likely had job postings up perpetually for the past few years, at least. Whether or not you’re getting a lot of applications to join your team, the true challenge is finding someone with at least a little experience in the mortgage servicing field. It’s a requirement because training someone with no industry knowledge is too much work for you and your supervisors with such large workloads. You need someone who can get up to speed quickly on all the servicing guidelines. 

Let’s take a moment and imagine your job posting could look something like this: 

  • Work remotely while still staying connected with colleagues and leadership.
  • No mortgage industry knowledge is needed. Task-based training systems clearly define a path to success.
  • Realistic performance goals are set weekly, with the opportunity for bonuses for exceeding quotas.
  • There are many opportunities to learn new skills, take on more responsibility, and earn more.
  • Do meaningful work that helps people in times of hardship.

No mortgage industry knowledge and working remotely are the two highly-attractive job descriptions that you couldn’t list before, until now. The Brace Default Management platform will redefine what you thought possible when it comes to the onboarding, training, scaling, and management of your teams.

Giving Your Teams the Tools They Need to Succeed

We know you’re wondering how on earth this is possible, so we’ll cut to the chase. The answer is simple with what we like to call the “Mr. Miyagi technique,” or to use its technical name “skills-based tasking.”

If the phrase “wax on, wax off” holds no meaning for you, it’s an analogy for learning each aspect of a specific skill set through many reps to perfect the overall craft. We utilize this technique in almost every part of our lives without realizing it; however, many professional settings expect us to learn using the “sink-or-swim” technique. 

Brace is a tool servicers can use to get back to basics with any employee, whether or not they have industry experience. The Default Management platform uses skills-based tasking wherein loss mitigation application tasks are routed to only those team members who are fully versed in that specific skill. 

Let’s look at an example. You hire three new employees with no experience. Their first (and only) task will be to check and verify homeowner bank statements for a week. While they are learning this skill, you can remove it from your team’s workload. Overall, the trainees will still contribute to the team’s greater good, resulting in faster resolution of files.

After the new hires complete their first week of training, they’ll then learn another task for a week, master it, and so on until they can fully service a standard application. Brace incorporates the “Mr. Miyagi technique” into its system because it’s the safest and most effective way to scale your teams fully. Employees and managers alike spend less time worrying about mistakes.

Brace ties all this together through its centralized dashboard that gives a manager view of all files that are being worked on by which team members in real-time. Team members can only see their specific application tasks organized by priority through a first in, first out algorithm based on RESPA requirements.

Since we love analogies, once you have implemented the Brace Default Management platform, imagine your team as a NASCAR pit crew and the homeowner’s loss mitigation application as the race car. Your team will service that application quickly since each person can expertly complete their specific task with speed and accuracy. 

 

Guess What! You Have Time to Eat Lunch Now!

If your team is the pit crew, you’re the crew chief. You’ve got a lot of high-level work to do to win the race and can’t spend time in the pit changing tires. The Brace platform dramatically reduces your time spent filtering and assigning tasks. You’re also way less worried about potential mistakes, thanks to the skills-based routing system. 

As crew chief, you’re always looking for ways to make your team faster. Whether managing teams remotely or on location, you can proactively pull productivity reports daily and redeploy the team’s efforts on lagging tasks. These reports provide real-time data to strengthen your teams and proactively measure performance against your goals. The ability to access these reports daily is another way to reward your people, increase morale, and implement contests with other departments to strengthen the overall bond of your organization. 

Someone putting in all this hard work deserves to be able to schedule themselves a lunch break instead of frantically chowing down on a granola bar between meetings. In the end, the efficiencies the Brace Default Management platform delivers to specialists frees up more time for management to do high-level duties. Plus, the added benefit of feeling like a human being. 

Let’s Stop Imagining and Start Doing

The Brace Default Management platform provides you with a fully customizable digital loss mitigation system that quickly adapts to your processes and procedures. 

Once implemented, your organization will provide a single source of truth to both the consumer and the Servicer. By providing this tool to Servicers, Brace achieves its primary goal of helping distressed and underserved homeowners. Bringing efficiency to Servicers means quickly resolving a consumer’s loss mitigation request accurately within hours, not weeks. 

If you’re ready to welcome the possibility of a safe, compliant, and highly efficient solution to your teams and the homeowners they serve, please reach out to us today.