LoanCare announced the launch of CoreSync, a new private-label servicing solution designed to allow lenders, banks, and credit unions to keep borrowers inside their own digital ecosystems while outsourcing mortgage servicing operations.
The next-generation platform integrates LoanCare's servicing data and functionality directly into a client's mobile app, online banking portal, and branch systems, creating a seamless borrower experience that eliminates the need to visit a separate servicing website.
Through CoreSync, borrowers can make mortgage payments, transfer funds to HELOCs, enroll in auto-pay, review balances, access documents, view amortization schedules, and request payoff quotes without leaving their financial institution's digital channels.
The platform is powered by LoanCare's application programming interfaces (APIs) and can be integrated into existing mobile applications, websites, and banking systems. LoanCare said the first CoreSync implementation is already live with a large national lender, with broader availability expected in the third quarter.
"The concept of private-labeled subservicing isn't new: for years, IVR systems and call centers have answered calls in the clients' names; and subservicer websites have tried to emulate client branding and customer engagement guidelines," said Dave Worrall, president of LoanCare.
"But there have always been digital speed bumps in this experience — for instance, customers trying to make a payment or request information might be taken to another site. This undercuts the client's brand and could create confusion and trust issues for consumers. From a brand continuity and customer engagement standpoint, this new option delivers a holistic digital experience all within the clients' digital footprint and takes private-label subservicing to the next level," he added.
Traditionally, lenders that outsource servicing often sacrifice a degree of brand visibility once a loan enters servicing. Embedded servicing technology seeks to address that challenge by allowing borrowers to continue interacting with their lender's brand while LoanCare handles servicing operations behind the scenes.
The platform also provides branch-level employees with real-time mortgage servicing data, allowing institutions with physical locations to offer more informed support when borrowers seek assistance in person.
"Our promise to clients is that we will always act like your servicing department: investing in enhancements that make a difference for you and your customers," Worrall said.
*This article was drafted with AI assistance and reviewed and edited by a human editor before publication.
