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ABA: The American Bankers Association
Industry Insight

The Five Biggest Misunderstandings About Outsourcing Mortgage Loan Servicing

  • Brought to you by Midwest Loan Services
  • Published May 28, 2021
  • Updated July 28, 2022

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The mortgage loan has been originated. Now comes the hard part – beginning the long and arduous task of carrying out all the functions required to service the loan. Although the majority of lenders and servicers elect to perform servicing functions in house, huge benefits are to be gained by outsourcing the responsibilities to a trusted subservicer. These benefits include lower costs, more robust servicing technology and assistance with regulatory compliance (this help alone is often worth the move). Why, then, is there hesitation? This paper addresses the 5 biggest misunderstandings about outsourcing mortgage loan servicing and what lenders and servicers need to consider and assess before opting to keep the servicing in house.

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