4 Benefits of E-Filing all Mortgage Servicing Firms Should Know
- February 17, 2022
- Category: Legal Tech
Managing legal files manually has historically been a labor-intensive, error-prone, and costly process. Thankfully, today’s legal technology enables mortgage default firms to drastically cut manpower costs while focusing their teams on growing business efforts. Today, an attorney can file court documents, have them approved and served, and monitor case progress online.
By enabling automation with technology, firms can successfully remove error-prone, labor-intensive manual handoffs and more seamlessly satisfy court requirements. A reliable and fully managed e-filing platform can reduce manpower costs and increase compliance. In this blog, we will explain why you should consider emerging e-filing platforms as a component of your overarching legal operations strategy.
1. Greater accuracy
Technology can give you a significant leg-up on manual e-filing processes in terms of accuracy and efficiency. Implementing an e-filing solution helps reduce typos and similar human-prone errors while supporting a rules engine to identify duplicate filings or filings without required data points or documentation. When an issue is found, these can be quickly corrected within the platform to avoid delays and streamline court acceptance.
It can also simplify compliance, safeguard data, and protect your firm. When you can file documents quickly and receive court acceptance results and stamped documents right away, you can react faster to new developments in a case, which often leads to better results for everyone involved.
2. Automation to streamline filings
Using automated e-filing, all the repetitive yet cumbersome labor that typically goes into filing a case and moving it forward is handled by the technology itself. When selecting an e-filing solution, make sure your provider has excellent customer support to help you stay on top of progress to key milestones.
E-filling can also become super-efficient when you partner with a service provider whose solution can help you prioritize important emails from the court. On average, the court sends hundreds of alerts each year. Sorting these emails in order of their importance is always a time-taking process that not only requires long hours but a keen eye. Sign up for an e-filling solution that can help automate the identification of relevant mail from the court to further same time and reduce manual effort and errors.
3. Employee training
Bankruptcy and foreclosure file volumes are largely unpredictable and can fluctuate fairly drastically from month to month, making it difficult for firms to prep and train their staff accordingly. Using digital e-filing solutions enables mortgage default firms to automate adherence to filing requirements based on any venue guidelines while removing the need for time-intensive employee trainings on a wide breadth of court requirements, which also tend to change frequently. This also means you get to scale your business without hiring more paralegals when file volumes increase.
With the current talent gap and increasing volume of filings, adopting an automated e-filing solution has become more important than ever. With time and manpower-intensive tasks automated, you can spend time on meaningful work that directly impacts your bottom line, like filing multiple documents with various courts by a click of a button in a fraction of the time.
This cost-efficiency lets you scale your practice with no additional hiring and training support you might otherwise need to train new team members.