The cloud-based solution provides significant efficiency improvements for the innovative mortgage servicer—
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced that after a successful implementation of their DigitalTax PlatformTM, Rushmore Loan Management Services LLC, a multi-faceted residential mortgage servicer, is able to demonstrate significant improvements in several critical mortgage servicing efficiency metrics – which has enabled the innovative servicer to deliver an unparalleled customer experience.
Since implementing CoreLogic’s DigitalTax platform, Rushmore has seen a:
- 20% reduction in the number of inbound calls from borrowers
- 30% reduction in the number of borrower-initiated tax research tasks
- 56% reduction in the number of property tax payment exceptions
- 17% reduction in penalties and interest fees
“The CoreLogic DigitalTax Platform is a critical component of our larger Digital Transformation Initiative,” said Terry Smith, chief executive officer of Rushmore. “We knew that by having faster access to more reliable digital property tax information earlier in our workflows we would become more efficient, but even we were surprised by how much the DigitalTax Platform improved our processes and helped us delight our customers.”
A cloud-based solution, the DigitalTax Platform transforms what has historically been a complex paper-based process into a highly automated and streamlined workflow. Tighter integration with the nation’s 22,000 taxing agencies facilitates near real-time tax data exchange, resulting in reduced exceptions, increased accuracy and efficiency and a significantly improved client experience. The DigitalTax Platform is designed to deliver unparalleled transparency into key data, enabling lenders to make dynamic payment decisions and optimize their portfolio and cash management.
”Rushmore has been a client of CoreLogic Tax since 2015 and last year became the first of our clients to move onto the DigitalTax Platform, using all aspects of the platform end to end,” said Nancy Langer, executive, Real Estate Tax and Payment Solutions, CoreLogic. “We are so proud to be part of Rushmore’s successful Digital Transformation and to support their commitment to delivering a best-in-class customer experience benefitting from CoreLogic’s near real-time tax authority data, enhanced automation of loan on-boarding and back office automation tools. In addition, Rushmore was the first to use our client payment decisioning and workflow portal. Since Rushmore led the way, hundreds of CoreLogic clients have been converted to the DigitalTax Platform, with the rest of our tax customers set to make the transition over the next 12 months.”
CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, buy and protect their homes. For more information, please visit stage.corelogic.com.
CORELOGIC and the CoreLogic logo are trademarks of CoreLogic, Inc. and/or its subsidiaries. All other trademarks are the property of their respective owners.
Rushmore Loan Management Services LLC (“Rushmore”) is an originator, servicer, and special servicer of mortgage loans, located in Irvine, California; Dallas, Texas; Oklahoma City, Oklahoma; San Juan, Puerto Rico; and Pompano Beach, Florida. The Rushmore umbrella includes its parent company and the capital markets arm of its organization, which is located in Midtown Manhattan, and the REO Disposition Company in Dallas. Rushmore has a strong foundation and bright future with significant capital backing and is led by a talented and innovative management team. More information can be found at www.rushmorelm.com.