ServiceMac, a mortgage subservicer within the First American family of companies, has recently surpassed one million loans in its portfolio, solidifying its reputation as one of the most prominent and trusted subservicers. ServiceMac, which currently manages over $300 billion in loans, began onboarding its first portfolio in 2019 and has quickly expanded based on its strong technology, risk management and compliance tools, high-quality customer service, and experienced team members.
The company provides support for mortgage servicing rights holders, master servicers, borrowers, and subservicing needs through servicing workflows that are more effective and efficient.
“We founded ServiceMac to eliminate the obstacles servicers faced in maximizing their efficiency and managing portfolio risk, while providing superior customer service,” said Bob Caruso, President and CEO of ServiceMac. “Our proprietary subservicing technology, combined with our focus on people and delivering outstanding customer experiences, has driven our rapid growth.”
Founded in 2017 and bought by First American in October 2021, ServiceMac is speeding up the creation of further improvements to its subservicing workflow aimed at driving the company’s next growth phase. ServiceMac is broadening its Sentry360™ platform, which offers servicers access to more than 15,000 data elements for each loan, by incorporating additional valuable data elements. The data enhancements to the Sentry360 platform provide servicers with on-demand access to portfolio information, enabling them to identify trends or evaluate the overall health of their portfolio.
The Sentry360 platform currently executes over 2,300 regulatory and quality rules against each loan on a daily basis to quickly find and fix problems before they affect the borrower. During a time of increased focus on compliance issues, the Sentry360 platform provides a mock audit feature that simulates aspects of regulatory and agency audits to assist in tracking performance relative to those obligations. Servicers can access the rules and audit results at any time from any device, offering a transparent portfolio view and enhancing their confidence.
“ServiceMac continues to push the mortgage subservicing industry forward with innovative technology and more efficient processes, which complement First American’s industry leadership and its efforts to streamline the digital real estate and mortgage experience throughout the mortgage life cycle,” said Todd McGowan, President of First American Title Insurance Company’s Lender Division. “We’re focused on driving growth and building value by leading the digital transformation of our industry and delivering a more efficient, more convenient transaction experience for all real estate market participants.”
ServiceMac remains a member of National Mortgage Servicing Association (NMSA).
About ServiceMac, LLC
ServiceMac, LLC, a member of the First American family of companies, is focused on providing superior technology, products and services for the mortgage industry backed by highly customized service and support. The innovative mortgage subservicing company offers lenders, investors and other mortgage servicers customized solutions that span the mortgage continuum and enhance security, customer satisfaction and profitability. More information can be found at www.myservicemac.com.
