When Looking to Increase Efficiencies…
Servicers Shouldn’t Overlook Mailroom Automation

As servicing organizations continue to look for ways to increase efficiencies, process automation is often front and center as a results-driven strategy. Servicers have long sought to automate primary servicing functions, as well as deploy sophisticated technology to handle high-volume, high-impact processes like the loss mitigation and loan modification operations that have been so overwhelmed in recent years. Yet, important opportunities for efficiency improvements still remain. Mailroom automation is an example of an area that offers impressive results.

Mailroom processes have a far-reaching effect on many procedures throughout the servicing organization. By embracing advanced mailroom process automation, servicers can significantly improve operational efficiencies on multiple fronts.

Lender Processing Services’ LPS Desktop™ Mailroom service provides servicers with the technology and services needed to fully automate mailroom processes and more. Servicers opting for this outsource solution will experience a significant advantage in mailroom performance and efficacy.

Better Document Management from the Start

With LPS Desktop™ Mailroom, all incoming pieces of mail -- like bankruptcy, foreclosure, tax and insurance documents -- are opened, imaged and time stamped by LPS immediately upon arrival. Next, LPS determines the document type and appropriate routing for each document. For example, LPS may determine that a piece of mail should be routed to a servicer’s bankruptcy department and that the document type is a bankruptcy dismissal. Once that determination is made, the imaged document is electronically inserted into a work queue assigned to the appropriate internal department. Should a piece of mail such as a tax document require action from a servicer’s vendor partner, LPS automatically routes the imaged document into a work queue for the authorized partner to access.

Better Workflow Management

LPS Desktop™ Mailroom technology also provides servicers with sophisticated workflow technology that enables them to track and manage scanned mail throughout the end-to-end servicing process. Servicers can quickly identify the time of receipt and the result of every subsequent internal and external partner action that has taken place for any given document, helping servicers improve response time, increase accountability and enhance audit compliance and control. This level of traceability enables servicers to quickly locate any service gaps and drive inefficiency out of their processes.

Better Data Sharing

LPS takes mailroom automation a step further, enabling communication with other existing servicer platforms. For instance, a servicer can request a notation be made in its servicing platform each time an insurance document is received. Additionally, LPS can match scanned mail documents with a servicer’s existing loan numbers to better track all documents associated with a given loan file. This provides servicers with a “big picture” view of what is happening with each loan file. Further, it reduces the need for duplicate data entry and minimizes the potential for errors. 

Better Resource Management

When partnering with LPS to deliver automated mailroom capabilities, servicers no longer need to balance mailroom staffing needs. They gain the scalability to meet demand fluctuations as they occur and the ability to eliminate manual sorting and distribution, manual data entry and other time intensive work that bogs down their operations. 

Servicers who enjoy the high performance mailroom automation delivered through LPS Desktop™ Mailroom have much tighter control over their processes - enabling them to ensure quality, reduce costs and decrease risk.  Clearly, mailroom automation is a proven strategy that can take another cost out of servicing operations and allow servicers to process more with less.

arrow Download a printable PDF