Industries Served & Case Studies
Title / Mortgage Services
Title Transaction Processing
Customer Goals
- Address highly variable and seasonal volume with flexible staffing.
- Use skilled staff for high-value tasks instead of data validation and capture.
- Reduce costs to address industry price pressures.
- Fast turnaround to complete transactions.
- Maintain or improve data quality to support risk-related decisions.
Situation
Customer: National title insurance company that also provides abstracts, examination and settlement services in all states.
Work Flow: Subcontractors handle property report document searches, abstracting, and tax updating. Staff conducts title examinations and commitment decisions.
Problem: Costs and quality concerns create need for experienced back office staff to:
- Review each search/abstract package for completeness and quality.
- Review documents for gaps in "chain of title" or missing searches (lien, bankruptcy).
- Update current tax information from online databases or by calling the county/local tax agency.
- Update all information in customer database, including long legal descriptions (metes and bounds).
Solution
To begin BPO relationship, two experienced CPI staff members were trained at customer site in Michigan. CPI helped update and improve customer training materials, online notes and "help" screens. We also developed state-specific information for repeated use. Additional customer training in system use was performed via webinars.
CPI has grown with the customer and now provides back office processing for more than 500 transactions per day. CPI quickly expands staffing for volume spikes when mortgage rates improve.
