Case Study: Millennium Interests achieves control of loan servicing, faster reporting, and fewer defaults with The Mortgage Office

Millennium Interests - Customer Case Study

Millennium Interests Ltd., a real estate development company that buys, subdivides and sells raw land, manages a servicing portfolio of over $25,000,000 and offers financing to most buyers. After outsourcing loan servicing to a third party, Millennium faced long delays getting reports, rising late payments and defaults, and multiple borrower lawsuits. To regain control they invested in The Mortgage Office lending software and brought servicing back in house.

By installing The Mortgage Office, Millennium regained timely access to reports and borrower materials—coupon books and reports that once took two weeks can now be produced instantly—leading to fewer misunderstandings, a decline in legal issues, and improvements in delinquency and default rates. The Mortgage Office’s features also enabled ongoing operational efficiencies (foreclosure tools and Escrow Administration are being adopted), delivering measurable time savings and better portfolio control.