First American Mortgage Solutions’ loan modification process addresses workflow volume spike

Today’s servicers are working in a challenging environment due to several compounding factors. For one, the mortgage industry is experiencing historically low interest rates, which have set in motion a refinancing boom that has dramatically increased lien release volume processing. Secondly, the coronavirus pandemic has created a critical need to provide timely and compassionate borrower relief in the form of forbearance and loan modifications.

The pandemic disruption to normal mortgage business operations and forced business closures has placed additional strain on the hiring and training of new employees with relevant experience to address workflow volume spikes associated with refinancing and loan modifications. The industry has also seen heightened regulatory scrutiny, which requires greater transparency and compliance.

These factors combined have created something of a perfect storm – increased volume and scrutiny without the ability to effectively staff up. Lenders and servicers need flexible options to manage the demand for lien release and loan modification requests efficiently, leveraging skilled expertise, automation and integration.

First American’s market-leading CleanFile Solutions® lien release services and FirstMod® loan modification suite enables lenders to outsource the workflow process to overcome the common challenges associated with processing large or inconsistent volumes, minimizing compliance risk and realizing greater efficiencies. 

FirstMod is a comprehensive suite of services that includes: insured and uninsured title data products, document generation, multi-channel delivery, document signing and recording, as well as lien priority insurance. By using FirstMod, servicers can increase operational efficiency, reduce costs and speed up resolution throughout the loan modification process.

“The mortgage industry is experiencing roller coaster-like market conditions,” said Chris Brinkley, senior vice president, Servicing Division Business Operations, First American Mortgage Solutions. “By outsourcing workflows like lien release and insured and uninsured loan modification services to First American, servicers can not only manage these rapidly changing market conditions without adjusting staff, they can apply their staff to more critical business objectives.” 

First American understands compliance complexities and adheres to local, state and investor guidelines. With their lien release and FirstMod solutions, lenders and servicers can minimize compliance risk, while also better managing inconsistent, large volumes. The company’s industry-leading metrics on turn times, reject rates, and compliance scores enable servicers to realize improved overall performance.

In addition to default services, First American’s CleanFile Solutions provides compliant and easy to implement lien release services, supported by the largest database of U.S. recorded document images. Spanning lien release generation, signing, recording and even trustee service. First American’s products and services provide a complete lien release solution that can be leveraged to support volume spikes or outsource the entire process to redirect staff in other areas of the business.

For lenders and servicers, it will be more important than ever to start 2021 off with the right resources and partnerships to effectively turn the tide on pandemic response. 

“Our teams provide a proven solution to support lenders through these turbulent market conditions, while complying with stringent regulatory requirements,” said Brinkley. “By providing a flexible outsourcing model for lien release, partial claim and loan modifications, lenders and servicers can strategically redirect existing internal resources.” 


Chris Brinkley, Senior Vice President, Post-Closing and Servicing

Chris Brinkley is the senior vice president of the post-closing and servicing division for First American Mortgage Solutions with more than 25 years of experience leading business operations, performance excellence, and global delivery platforms at First American and other national mortgage servicing companies.

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