MortgagePoint Magazine Highlights Insight from Cornerstone Servicing President Toby Wells
August 13, 2023 | MortgagePoint Magazine featured perspectives from Toby Wells, president of Cornerstone Servicing, on how a subservicer can best support lending organizations in today’s rapidly changing regulatory environment.
“Servicers need to have the best people, technologies and practices in place to proactively manage risk—but also a culture of service and excellence,” Toby said. “This means going the extra mile to keep your customers happy and empowering them to achieve their homeownership goals.”
Investing to build these resources in-house may not make financial sense for small- and mid-sized lenders or MSR investors seeking to grow a servicing portfolio through acquisition, Toby noted. The most economical strategy might be to partner with a subservicer with adept compliance expertise and leading technologies in place to help with the heavy-lifting servicing compliance requires.
“Modern servicing platforms are robust, integrated, scalable, and equipped with smart tools like AI, workflow automation, and cross-platform analytics that aid compliance and enhance customer experience,” he said.
Organizational culture also plays a huge role.
“A servicer built to serve borrowers’ interests will more naturally meet and exceed regulatory requirements,” Toby explained. “Further, this customer-centric mindset will enable lending organizations to effectively manage risk, retain customers for life, and achieve responsible, sustainable growth.”
Click here to read the article in MortgagePoint Magazine’s October 2023 edition.