Staircase has launched MSR Transfer, a new technology that automates and streamlines mortgage servicing rights (MSR) transfers and orchestrates transactions between the buyer and seller of MSRs.
MSR Transfer eliminates the manual loan file review process while improving loan file accuracy. It leverages Staircase’s Loanboarding product, which uses machine learning tools to automate the ingestion of loan files and transform raw loan data into structured documents.
In addition to making MSR transactions virtually touchless, MSR Transfer gives users the ability to save all loan data on a blockchain – including the findings and resolutions – allowing for a better price when rights are sold. It also provides a full audit trail which eliminates the back and forth on searching for missing documents or disputing the source of truth.
“MSRs have become increasingly valuable as mortgage rates rise but the current process for transferring MSRs is manual, slow, and expensive,” says Adam Kalamchi, Staircase’s CEO and co-founder. “By automating the process, MSR Transfer saves time and money for both parties by removing the high cost and error-prone work of reviewing loans manually.”