Every servicing exception needs an owner and a clock 

A loan is boarded on a Tuesday. The payment history is clean, but the escrow balance in the new system is about $40 off from what the borrower saw last month. Neither system is wrong, but there is a gap between both systems. Somebody from the transfer team drops in a shared inbox called transfer research and creates a ticket there. About three weeks later, the borrower inquired about a late fee on their account that they don’t owe, and it was determined that the annual escrow analysis was run on the wrong number. Nobody wanted to build a bad system, but situations like this can turn any system bad.That is where servicing harms the borrower: the core platform is not flawed, but a payment not applying, an escrow figure that won’t reconcile and a document that didn’t make it over at boarding can harm the borrower. These live in spreadsheets and mailboxes, and if you ask who owns a ticket and how long it’s been since the last update, usually nobody can answer.It only gets expensive. According to the Mortgage Bankers Association’s 2024 servicing operations study, the cost of servicing a performing loan is $176; a non-performing loan costs $1,573. That is nine times more, and exceptions ...