TransCentra Automates Billing, Payments Processing for Mortgage Servicing Industry
Software processes nearly 100 million transactions annually, PennyMac among clients leveraging payments processing capabilities
ORLANDO, Fla.--(BUSINESS WIRE)--TransCentra, a leading provider of billing and payment software and services, announced today at the Mortgage Bankers Association’s National Mortgage Servicing Conference & Expo that its suite of software solutions now processes nearly 100 million mortgage transactions annually and streamlines customer communication efforts to meet the operational and compliance needs of servicers.
“With more than 120,000 customers sending in their monthly payments via check, having a partner like TransCentra with a cost-effective solution for processing those payments has been invaluable”
TransCentra tailors its offerings based on servicers’ unique business needs, such as the on-boarding of new mortgage portfolios acquired from other originators or servicers. TransCentra automatically identifies and transitions mailing addresses and billing and payment procedures by mapping the old account numbers to new ones, saving a significant amount of time and resources.
TransCentra’s billing solution provides servicers the capability to customize bills and documents to enhance marketing efforts or highlight important details with their full color print capabilities. TransCentra’s Real Time Content Control system facilitates streamlined customer communication, including sending bills, escrow notices and other required documents throughout the mortgage servicing cycle. Servicers can easily modify documents and control who receives each document without involving a programmer.
PennyMac is among TransCentra’s clients leveraging its lockbox service to process paper check payments. “With more than 120,000 customers sending in their monthly payments via check, having a partner like TransCentra with a cost-effective solution for processing those payments has been invaluable,” said Vince Gangi, executive vice president, Mortgage Servicing for PennyMac. “TransCentra has been an outstanding business partner for PennyMac through our significant growth in recent years and consistently works with us to achieve the highest standard of quality.”
“Mortgage servicers remain under a great amount of pressure to meet evolving compliance requirements while streamlining internal processes,” said Lynn Boggs, CEO of TransCentra. “We facilitate bill and document creation while giving servicers a tool to fully control their customer outreach activities. And, taking it a step further for servicers, we also remove the payment processing responsibilities from their plates, producing a single, consistent feed of biller data and images from multiple payment channels.”
TransCentra is America’s largest outsourced remittance processor, one of the largest outsourced billers and a top provider of imaging and payment processing platforms and software. TransCentra delivers multichannel billing and payment solutions in both the consumer and business-to-business markets across a variety of industries, including financial services, insurance, healthcare, utilities and telecommunications. For more information, visit www.transcentra.com.