Peter Sorce

PODCAST: Creating value through loan subservicing

Midwest Loan Services brings efficiency to the lending process.

November 22, 2019

Efficiency is a hallmark of a well-run organization. For credit unions, compliance is one of the biggest obstacles to efficient operations.

As a loan subservicer, Midwest Loan Services offers credit unions a path to improved efficiency, not just with compliance but through the entire loan servicing process, says Peter Sorce, president/CEO of Midwest Loan Services.

In this episode of the CUNA News Podcast, sponsored by Midwest Loan Services, Sorce explains what mortgage subservicing is and how it can benefit credit unions. He also details what to look for in a subservicer, the regulatory challenges related to mortgages, and this year’s mortgage outlook.

You can listen and subscribe to the CUNA News Podcast in Apple’s iTunes Store, Spotify, Google Play, and Stitcher Radio.

In this episode:

1:46: What is mortgage subservicing?

2:55: The history of Midwest Loan Services

4:40: Potential benefits of subservicing

7:19: When it makes sense to outsource your portfolio

8:47: Criteria for evaluating subservicers

10:15: Sorce’s approach to communication and transparency

11:59: How Midwest Loan Services measures performance

14:03: Easing the regulatory process for credit unions

18:03: Today’s biggest regulatory considerations

19:39: Challenges within the mortgage market

21:07: Opportunities in mortgage-related products

22:00: Balancing technology with member service

23:53: Types of loans Midwest Loan Services manages