Description: The article is about nationstar mortgage login. This is an introduction about the Chennai Center that has been built in India. The chief manager delivers its concept including how it works and what it will bring to its customer.
It’s buying and selling in a home,nothing’s changed in that space. That’s the innovation that we need at speed and scale,that’s fine for you. The reason why we are expanding and getting investment is obvious. It relates to how ecommerce has simplified the way you buy and sell,you don’t need a huge data center to set up to run any type of Technology for anything you need to pay. What you have is this on-demand compute power available. These two trends will rank number one when you look at the trends over the last decade.
There are10 trillion in total market,trillion in additional and more of them are new mortgages every year. Nation star is the fourth largest service in the United States. We’re number four in the United States from a services standpoint.
We’re probably the number eleventh or twelfth originator in the United States. We have significant size,we have significant scale,we have two and a half million customers,we have about two billion in revenue,it’s our run rate now.we have a total of 7,000 employees in country or in the United States today.
Our company has been around for 17 or 18 years,we’ve always been in the mortgage business. In relating with our size and scale,we believe that the mortgage industry has been under invested in that the customer experience can be improved,we are on a journey to keep the dream of homeownership alive in the United States.
To improve that,we need to improve the customer experiences,it’s arguably the largest investment that most Americans make. We want to improve the experience by delivering them better tools, by delivering them a better service,by delivering them a better process, by delivering them more transparency, by delivering them more communication. I personally think there’s a tremendous opportunity to do that.
Our team in Chennai will focus on digital and mobile transformation,data analytics and automation of key business functions. The India Product Development Center will be an open,collaborative environment consistent with Nationstar’s core values of being Champions for our customers,Challengers of convention and Cheerleaders for our team.
We are continue on this journey,tonight is going to be a big part of that. We’re very excited about the product development center here. I’m excited to have these gentlemen very involved in that. The Chennai Center is going to do a variety of things for us,one is that they will clearly build new products,new technology,new processes to help the customer to improve the customer experience. Companies that provide the best customer experience win, and we’re on a journey to create the best customer experience in the mortgage industry.
Technology and product development will play a critical role in our mission to keep the dream of homeownership alive. This new center represents our long-term commitment to creating best-in-class products that make the home loan process more rewarding and less worrisome for our customers.
It is going to do some operations here,we’re extremely excited about it. I’m going to see it and I’m excited to be here. I think the health of the US mortgage market is definitely healthier today than it was a few years ago,delinquencies are down,the trend are improving,there are a lot of markets that have recovered completely from the crisis.
I feel like it’s a great place to be and it’s a very large market,there are a lot of opportunities there,we are the the player of the mortgage company that can provide the best service. I think there will be a lot of victories ahead and we will continue to be a dominant player in the market. I’ll turn it over straighter and let them provide more information.
From our perspective,you’ve had experience in India throughout the country with a variety of different partners and I think when you look at the interest,it is obviously one of the largest cities,you can look at the infrastructure,look at the universities,look at its experience and deaths in the financial services,it is a very large choice.
We don’t have any of this,this is the first company owned Center,but we’ve partnered with different other entities for the last seven years,it’s more focusing on an outsourced basis interfaces. This is the first Development Center for Nationstar,earlier it was more of outsourced to model,now you have your own captive Development Center.
This is a technology product. In the other partnership,it supports more operational in nature. This is clearly that we feel like we can improve the customer experience immensely,we need better products,we need better tools,we need better technology and this is the place to do it.
I don’t think you’ll see this. I think we have a lot of domain experience clearly and we have a lot of customer,then we will have a lot of information and feedback from the tools that they want and the tools that they need. I think we’re probably the best to build that.
The skipper will focus on other things. We have servicing business,we have an origination business,so the focus will be on the holistic businesses,it will help the core operations,help improve the customer experience including all the tools they use and their processes that are involved.
The sourcing business in the US is big,it’s very regulated,it’s very complicated,I think we’re doing things simple,every month we send a statement to the customer and that statement is not the most user-friendly,so the problem is how we can make that mobile friendly or web friendly to improve the display,to improve the language around the statement,to make it an informative and useful process for the customer.
There are tons of stuff we can do for a mobile standpoint. We want to let them know what’s going on with their mortgage,what’s going on with their neighborhood,there are a lot of tools. Ultimately it is all about how you can make the customer happy,how you can make the tools to become more friendly and more useful. Is that specific enough?
The origination side is more about information and status. Assuming when somebody goes through a refinance or they’re bonded in your home,they’re very anxious to know where is the process,they want to get approved,they are eager to know what documents they need to provide. I think through mobile technology,we’re going to provide a lot more information and a lot more transparency.
Here’s where you’re at the process,here’s what you need to provide with us,here’s where you know something useful. We need to make it a lot more usable,today the language is very confusing,our job is to figure out how we make it simpler,cleaner,understandable and give them tools that help them do that. That’s the focus.
That’s an area that has been invested in,it’s getting better,it’s about the functionality of home search,you can go online and search different homes,but that’s also where it stops. You’ll say I like this home I want to buy it,then we’re going to try to make that process much easier. We will help you figure out whether you can get approved for a loan or not. Here’s what you need to do,you need to get a roof for a loan,once you start that process,you will start communicating about how that’s working.
That’s where I am going to talk about how we can communicate. We need to improve in that process. We will back to that. When you talk about the originations side of it,they understand you need to provide some documentation,if you are an employer what you need to provide,if you’re a business owner what you need to provide,if you are independent consultant what you need to provide,there are various documents,there are variations in what is expected.
The objective is to make that process very simple,they will provide a document by using technology to quickly verify and communicate with the customer to see whether they’ve done it in the right way with the right information or there’s something else that they need to provide,that’s one element of it.
There are other ways for us to indicate it,you are not limited in this way to exchange information digitally through your bank. We think that interface or exchange is going to be a big step as well. That’s where technology comes in as a key component to simplify the user experience.
What we have here is that we have close-mindedness people. We have got of analytics data and operations,they should be closely tied with the technology and they have a bridge between the society so we will focus on these two roads.
We would like to partner with some of the universities here to do some good shows and also provide internship program as part of our development.We are being part of this spectacular event,the technology innovation has went through the last decade,it improves the compute power and probably ranks to number one.
I think we’ve already talked about some of the things. At the end of the day the mortgage process has many steps,there are a lot of manual steps in the process and there are a lot of panel in the process,so that requires people. If you can improve the process where there are more communications done digitally or the updates are going to be a technology,then I think you’ll need less hands in the process.
I think it’ll help us reduce expenses in some cases,more importantly I think it’s going to help us have a true differentiated user experience,the technology is better than what is in the marketplace today,I’m confident that it will be the way that I am expecting.
I think we will require a lot of new customers,you’ll have new customers that want to get a lot information,we’re delivering a more transparent service,you will have a better process,it will grow our enemies. I think a combination of those is great. I think the US market is so large,there are plenty of opportunities there,I think there are plenty of growth opportunities for us.