HfS Research: Cognizant Named a Winner in the 2016 Mortgage As-a-Service Blueprint

HfS Research named Cognizant a “Winner” in its 2016 Mortgage As-a-Service Blueprint. HfS assessed service providers based on two critical axes ― execution and innovation ― and gathered data to support its analysis from client reference interviews, market interviews, RFI submissions, and exhaustive service provider briefings.

The service providers identified ‘winners’, HfS noted, “have the strongest vision for As-a-Service delivery in the mortgage industry, and are driving collaborative engagements with clients to bring this vision to life. They are making significant investments in future capabilities in automation, technology and borrower experience to continue to increase the value over time.”

Reetika Joshi of HfS wrote: “HfS believes that the Mortgage Operations market for both residential and commercial loans is on the cusp of a significant transformation. Several lenders in our research described their mortgage processes as complex, broken and in need of help to compete with non-traditional lenders and faster cycle times…There is a marked departure in the market dialogue, away from labor arbitrage and manual “lift and shift” processes, and towards using a combination of technology platforms, analytical insights, automation, digitization and other accelerators to redesign processes and drive more value in sourcing engagements.”