Rocking Your New Year

With so much uncertainty surrounding the coming surge in volume this year, how can you plan and prepare without the specifics of when and how much? According to a recent article by Core Logic, over a third (39.1%) of forborne loans are 150 days behind on payments, representing about 1.3 million loans. Though not all of these will end in foreclosure, the data suggests an impending demand for default services. However, how do you plan for the manpower needed to keep up with the surge? What happens when the market slows down again?

Waiting until the volume hits an unmanageable decibel to hire support staff stalls progress. It takes time to find qualified professionals and train for niche positions. It also increases your fixed costs and limits your flexibility to quickly shift gears when volumes decrease. 

Moratoriums have created a moving target in the foreclosure industry putting the hiring process on-hold for many companies. It seems the only way to approach the situation is to wait until the flood gates open, evaluate the workload, then hire and train staff as quickly as possible. Starting out behind and playing catch up isn't the most efficient, or cost-effective, strategy. Hiring the right number of people to manage files is challenging because, well, what goes up must come down. Now you are faced with downsizing staff to accommodate lower volumes and the time and money invested in recruiting and training is lost. ​

However, what if you had a flexible option to hire and train staff as needed? Clients that outsource with KnovaOne have that ability. We work closely with your operations lead to determine initial support levels. Staff is then vetted and chosen from a pool of college-educated professionals, trained for your specific tasks, and provided all the technology (and social distancing) needed to perform the job. Unlike direct hires, staffing up or down is easy. KnovaOne's business is scalable to your business, so you can react quickly and cost-effectively to shifts in the market. In other words, you can certainly plan for uncertainty without risking lost revenue. In fact, you can plan for increased revenue. With just 20 FTEs, you can save up to $1 million in a single year.

Outsourcing with KnovaOne is about more than just saving money, it is a strategic decision. Flexibility with the added efficiency of round the clock production and the strongest KPI’s in the industry can provide your business with a solid competitive advantage. It’s time to experience Super KnovaOne results.

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Guides, References, & Resources

OPERATIONAL AREAS TO REVIEW Now is a good time to look at your operations and find areas that are ready for improvement. There are endless tasks that need time and attention to keep your law firm running smoothly and efficiently. Here are a few that can benefit the most from an in-depth review:

• Policies and Procedures
• Media Sorting and Indexing
• Data Cleanup
• Email Management
• Backlog Cleanup
• Skip Tracing/Asset Locate
• Reconciliations
• Refresher Trainings
• e-Filing

​If you don't have the resources to conducts these reviews or find you need to supplement your staff to implement improvements, please contact us to set up a call for a confidential conversation.

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News & Announcements

​Daniel Fallon joins KnovaOne

FOR IMMEDIATE RELEASE [West Palm Beach, Florida | Monday, October 7] KnovaOne is pleased to announce the addition of industry-veteran Daniel Fallon to the newly expanded client support and relations team. 

As the Director of Business Development, Daniel Fallon will build, grow, and maintain strong relationships with the clients. He will also oversee the implementation process ensuring clients realize the full benefit of KnovaOne’s services. Before joining KnovaOne, Fallon was the Manager of Audit & Compliance for Rausch Sturm. He has over 20 years of experience in the Collections industry, having worked for companies such as Bank of America, TDM National Attorney Network and several large law firms. Fallon's extensive industry and legal experience provides invaluable insights as KnovaOne evolves to provide a suite of services beyond resource allocation solutions to a compliance-driven industry. 

"With this expansion, we're building a team that looks to move our products and services to the next level," says Neeraj Mendiratta, CEO of KnovaOne, "our goal is to partner with our clients to face the challenges of our industry head-on and implement high-quality and compliant solutions that are cost-effective and efficient."
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Daniel Fallon is based out of Boston, Massachusetts and can be reached at daniel.fallon@knovaone.com.