In August 2014, the Consumer Financial Protection Bureau (CFPB) issued a bulletin warning that its examiners would be looking closely at cases where borrowers got the “runaround” after a servicing rights transfer. The new servicer shoulders the sole responsibility for ensuring loan data is complete and accurate and that consumers are not negatively affected by the transfer, particularly distressed borrowers.​


A nationally recognized servicer was engaged by a mortgage loan originator to subservice over 13,000 home equity loans. Upon receipt of the loan files, it became evident that the electronic data set of the loans was incomplete. To properly service the loans and adhere to the CFPB expectations, each loan file had to be manually reviewed and classified accurately. With approximately 200 documents per loan, it would require thousands of hours of manual review costing the servicer about $20 per loan.​


The servicer partnered with Computershare Communication Services to implement its Digital Loan Processing solution to meet CFPB regulations, reduce personnel time and accurately classify each loan file for an improved workflow throughout the life of the loan.

Utilizing the latest technology in document data recognition, Computershare accurately classified the digital loan documents and extracted a customized data set requested by the servicer. If any exceptions occurred, Computershare mortgage experts reviewed the digital files and developed a set of rules to automate the classification for similar documents in the future.​


​As of today, Computershare has classified 12,450 loans, capturing almost 2 million images. Designed to reduce costs at the start of the mortgage loan process and carry those cost savings through the life of the loan, Computershare’s Digital Loan Processing technology reduced the amount of personnel hours, resulting in savings of over $200,000 to the servicer.
​As a strategic partner, Computershare created a customized document indexing and classification solution allowing for quick access to key documents within the loan file. This not only resulted in a reduction in cost for due diligence review of each loan file, but also ensured consumers were never negatively impacted by the servicing transfer.​



12,450 loans classified

1.9 million images captured

$200,000 saved in operations costs

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