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Rapid Servicing Transfers

Transferring validated loan data in minutes

logos for awards: AICPA SOC, HousingWire Tech100 Mortgage, ISO 27001 Certified

20-minute transfers
Compared to days of manual processing

Greater Volume
Increased capacity for loan transfers

1 team
Reduced reliance on IT and engineers

SCENARIO

Equiant (now Concord) faced significant challenges in transferring millions of loans from originating companies to their own system. This process was essential for maintaining accurate records and providing seamless service to their customers. However, the traditional method of completing servicing transfers was fraught with inefficiencies and resource-intensive procedures.

CHALLENGE

Before engaging BaseCap, Equiant leveraged multiple teams to manually transfer loans from their origination system. Servicing transfers were monopolizing the onboarding team’s time and creating bottlenecks within the organization. 

SOLUTION

The customer leveraged BaseCap’s automated data validation platform for the following use cases:

  • Automated data checks using custom policies
  • 100% review of data to eliminate sample bias
  • Intuitive failure management for faster remediation of data errors

RESULTS

These solutions created tangible benefits for the organization, including:

  • 98.6% faster completion of servicing transfers 
  • Ability to onboard greater loan volumes
  • Immediate reputation bump for transferring loan data faster than competitors
  • Greater confidence in newly boarded loan files

No more stare-and-compares

BaseCap helps you validate data with greater speed and accuracy. Speak to an account executive to learn more.

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Terms & Conditions

24 Hour Loan Due Diligence Guarantee

Guarantee Offer:
We guarantee a 24-hour turnaround time for performing a standardized diligence checklist and providing a certification for eligible loans. If we fail to meet this commitment, we will provide a credit for the affected loan on the client’s next loan submission. This guarantee timeline does not apply to exception resolution and subsequent reruns of loans.

Conditions & Exclusions:

This guarantee applies under the following conditions:

  1. Cutoff Times & Business Days:
    1. The 24-hour period begins from the time of submission, provided it occurs before the daily cutoff time as defined in the contract.
    2. 2.Submissions received after the cutoff time will be treated as received on the next business day, and the 24-hour period will begin from that point.
  2. Force Majeure & System Outages:
    1. This guarantee does not apply in the event of Microsoft Azure outages, broader cloud service disruptions, or any force majeure events beyond our control.
  3. Third-Party Dependencies:
    1. If document scans, data files, third party reports or other required materials are delayed due to our provider or an integration partner, the 24-hour clock will not begin until all necessary documents and data are received.
  4. Volume Spikes:
    1. If loan volume exceeds 30% of the rolling 30-day average, we reserve the right to temporarily suspend the 24-hour guarantee until processing volumes return to normal or are reflective of the new increased average.
  5. Exclusions & Modifications:
    1. We reserve the right to modify or suspend this guarantee at our discretion in the event of circumstances beyond our reasonable control.
    2. The credit applies only to the next loan submitted by the client and has no cash value.

By submitting a loan for diligence under this guarantee, the client acknowledges and agrees to these terms.