ServiceMac provides the following SMX features:
Efficient Transfer and Post-Closing Process
Facilitates one purchase and sale agreement and a single counterparty experience.
Counterparty Management
Reviews all applicants and performs ongoing oversight of counterparty financials and overall company health.
Legal Review
Provides legal review of all purchase and sale agreements between SMX buyers and sellers.
Settlement Services
Facilitates payments for MSRs between counterparties.
Loan Boarding
Manages seller loan boarding data and documents, including quality control reviews involving 1,410 business rules and OCR technology.
Document Management
Receives and indexes all origination documents and collateral to confirm each loan originated according to GSE agency guidelines.
Transfer Management
Facilitates the MSR transfer process from the originator > ServiceMac > MSR aggregator.
Buyer Benefits
- One-to-many relationship – Buyers establish a relationship with ServiceMac and gain access to multiple MSR sellers participating in SMX.
- Seamless, familiar customer experience – Buyers get the support of consistent operations backed by ServiceMac’s dedicated support groups.
- Scale and speed to market – SMX scales to support high volumes of transactions from identification through post closing.
- Servicing oversight – Buyers gain access to asset performance and servicing data with our state-of-the-art mortgage servicing quality assurance platform that enables ServiceMac to monitor our full loan portfolio daily for adherence to applicable government agency and business requirements.
Seller Benefits
- Sourcing Buyers – SMX is continually prospecting new buyers to participate in the exchange, increasing liquidity opportunities for sellers.
- Reduced time and cost – The ServiceMac team manages the back-office resources so the seller experiences a streamlined single counterparty relationship.
- Streamlined process – ServiceMac facilitates the transactions and services the loans, providing a consistent customer experience.
- Frictionless pricing – ServiceMac uses a sophisticated pricing engine to provide sellers loan-level pricing within minutes.
