TheMReport — News and strategies for the evolving mortgage marketplace.

Issue link:

Contents of this Issue


Page 21 of 83

MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 20 J O U R N A L May 2023 Industry Update CORNERSTONE LAUNCHES SUBERVICING DIVISION C ornerstone Servicing, a division of Cornerstone Capital Bank, SSB, and a provider of mortgage servic- ing solutions, has launched a subservicing business designed to empower homebuyers to be smart homeowners for life and fuel sustainable growth for lenders and investors of all shapes and sizes. "Our goal is to ensure every homeowner has the support they need to make informed decisions and manage their mortgage with ease," said Toby Wells, President of Corner- stone Servicing. "With proactive engagement and intuitive technologies, our customizable subservicing solutions are uniquely designed to eliminate common pain points for home- owners such as unreliable service, confusing escrow changes, and lack of clear and timely information regarding their mortgage. We create an ideal homeowner experience to promote customer loyalty, healthy servicing portfolios, consistent cash flows, and sustain- able growth for our clients—at a competitive cost of service." Cornerstone Home Lending, now a division of Cornerstone Capital Bank, has resolved to bring servicing fully in-house to deliver service for the life of each loan and beyond. Cornerstone Servicing has boarded Cornerstone Home Lending's servicing port- folio and achieved immediate improvements across its customer experience and servicing operations. Led by a management team averaging more than 25 years of mortgage industry experience, Cornerstone Servicing combines superior service and user-friendly technologies with proactive processes and digestible communications to help make homeownership easy and convenient. Home- owners can log into the company's secure, user-friendly web portal or mobile app to access a complete view of their loan and 24/7 self-service options. An AI-powered virtual assistant offers immediate help navigating and utilizing the portal, with secured messag- ing available for more personalized assis- tance from Cornerstone Customer Care team members. The portal includes a learning cen- ter with helpful resources and tools designed to empower smart homeownership. TRANSUNION BRINGS TOGETHER SENIOR LEADERS IN FINANCIAL, INSURANCE INDUSTRIES O ne in five U.S. adults—more than 60 million consumers (about twice the population of Texas)—are either outside the credit ecosystem or lack sufficient credit data to be scored by traditional risk models, leaving many underserved. To better support marginalized consum- er segments, TransUnion brought together senior leaders in the financial services and insurance industries at its inaugural Finan- cial Inclusion Forum. The group of executives discussed ways to meet and engage consumers where they are on their financial journey and to create and deliver equitable products and services for them, opening new sources of business growth while building long-term resiliency and prosperity for underserved families. "Financial inclusion is core to TransUnion's mission of Information for Good because we believe all consumers should have the opportunity to participate in the credit ecosystem. Economic growth is strongest when participation is at its highest," said Steve Chaouki, President, U.S. Markets and Consumer Interactive, TransUnion. "To make meaningful change, we convened leaders from the financial services and insur- ance industries—two of the largest and most important groups to the financial futures of consumers and the economy. Develop- ing strategies that unite financial inclusion opportunities with responsible lending and policy underwriting will help marginalized consumers and allow these businesses to grow."

Articles in this issue

Archives of this issue

view archives of TheMReport - MortgagePoint_May2023