Automation Factory

“We are developing Automation Factory to help Cenlar drive operational effectiveness through automation. Our goal is to increase client satisfaction through consistency and accuracy, improve our risk profile by automating manual controls, and most importantly drive employee satisfaction by creating opportunities to learn new skills and work on non-repetitive tasks,” said Josh Reicher, Chief Digital Officer.

The automation of more repetitive tasks will reduce human error and the amount of time spent on repetitive administrative work. Employees will instead be able to focus on decision making and higher value service. Here are two pilot projects in the works.

Mortgage Insurance and Payoffs
In this capacity, AF will combine several components of process automation, harnessing tools and technologies that will improve workflow and reduce error.

Risk Mitigation
AF would potentially result in higher quality verified data, which would produce a higher level of compliance and a higher degree of risk mitigation.

Moving Forward

Cenlar’s move to automate certain processes within the organization comes at a critical time as the closely-regulated mortgage industry evolves to support post-pandemic volume, meet the digital demands of tech-savvy customers and increase efficiency. For now, Cenlar’s Automation Pilot is receiving positive feedback from its participants as goals and objectives are being analyzed and further rollouts evaluated.

“It’s clear that automation represents an opportunity to fundamentally change the way the mortgage industry works,” said Bill Moffett, Senior Vice President of Core Operations. “There are many everyday processes in mortgage subservicing that can be automated, resulting in improved effectiveness and reduced risk. “Automation Factory delivers on that plan.”