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Case Study
First World Mortgage increases servicing efficiency by 2x
By partnering with Willow, First World Mortgage automated post closing procedures and reduced manual tasks by 80%.
The Problem
After evaluating numerous point solutions, First World Mortgage selected Willow to scale their post-closing operations. Prior to Willow, First World Mortgage utilized their LOS to generate monthly statements and goodbye letters and collected paper checks from their borrowers. Due to shortcomings with the LOS technology, borrower notices and calculations were often inaccurate - leading to manual review processes and customer confusion when errors did slip through.
“The ACH capability with automated billing statements and servicing transfer notification process is invaluable. Willow has been such an improvement in our processes.”
- Jessica Shea, VP of Servicing
The Solution
Critical to First World was finding a solution that could accurately automate the following key areas:
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Borrower communications - Timely notifications to the borrower that properly reflect the loan status and payment status, including mortgage statements, payment reminders, goodbye emails.
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Payments collections - Provide borrowers a customized online portal to make their mortgage payment. Display the amount due and allow the borrower to submit a one-time ACH payment.
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Compliance - Logic-driven automation to ensure all required notices are sent to the borrower on-time.
“It took just a few weeks to get up and running, and once we got going, it was so much easier than expected.”
Unlike other solutions, Willow was designed for mortgage post-closing and interim servicing processes. Its comprehensive, yet intuitive solution, eliminated errors and workarounds prevalent with other systems. “Our LOS didn’t have the capability to manage things the way we wanted. The ACH capability with automated billing statements and servicing transfer notification process is invaluable. Willow has been such an improvement in our processes.” - Jessica, VP of Servicing
The Outcome
By increasing post-closing and interim servicing efficiency, First World has been able to reallocate staff to other business critical initiatives. In the changing mortgage market, Willow has provided First World the flexibility to offer additional high-touch loan products without increasing staff.
“Willow has been such an improvement for us. It took just a few weeks to get up and running, and once we got going, it was so much easier than expected. I’ve been able to put staff on special projects and projects they would rather do.”
Additional Case Studies
30% reduction in customer inquiries
Automated and timely notifications answered customer questions without the need for outreach.
Certainty & confidence with new technology
Tomo Mortgage turned time intensive tasks into automated processes with minimal oversight.
Elimination of manual tasks
Beeline replaced manual processes with automation and improved internal operations & the borrower experience.
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