MBAs School of Mortgage Servicing

Instructor-Guided Online Course

Building and Maintaining a Customer Base
Moderator & Instructor:
Patricia B. Taylor
President
Aurora Financial Group

Copyright 2015
Mortgage Bankers Association

Topics

The importance of maintaining customer relationships

Keys to successful customer service operations
Potential problem areas in customer service
Customer communication methods
Communication with other operations areas in the
organization
The importance of retaining and training quality staff
Common customer service training issues
Efficiency in customer relations operations via technology
deployment

At the heart of maintaining relationships with customers

is

Customer Service
3

Advantages of Quality Customer Service

Increased profitability by enhancing potential to:

Attract more customers
Maintain current customers
Attract more investors
Sell other products to existing customers

Cost savings due to reductions in:

Multiple borrower communications related to the same issue
Delinquencies
Complaints and questions received from borrowers
Costly and time-consuming litigation

Keys to Successful Customer

Service Operations

Implement company-wide strategies to:

Identify potential problem areas within
customer service
Communicate with and educate customers
Communicate and coordinate with other
operations areas, including production
Retain and train quality staff members
Utilize technology to achieve efficiency

Identify Potential Patterns and Problem Areas

Incorrect billing statements, insurance

premiums, or ARM loan adjustments
Misposted payment
Tax or insurance unpaid
Coupons not produced
New loan is set up incorrectly
Potential or imminent default

Communicate with and Educate Customers

Common issues:
Transfer of servicing rights
Delinquent or partial payment
Reports of property disturbance
and damage in the area
Loan payoff
ARMs resetting
New product offerings

Methods of Customer Communication

Telephone/email
Coupons and billing statements
Stuffers, mass mailings and telemarketing
Web Applications
Campaigns designed for borrower outreach
Early intervention in default / Borrower Response
Package to evaluate opportunity for loss mitigation
What do you find effective?

Retain Quality Staff

The right staff with the right tools is critical.

Staff characteristics

Strong research and organizational skills

Ability to communicate well both orally and verbally
Ability to communicate a strong grasp of mortgage banking
guidelines and regulations

Tools

Staffing or capacity models

Cross training
Access to information

Staff Development / training

Characteristics of Quality
CS Representatives
Key qualities:
Being customer oriented
Being detail oriented
Being knowledgeable
Following procedures
Being alert to risky situations
Effectively using available information
Using effective communication skills

10

Staff Training

Convey company mission and strategy

Big picture
Servicing departments role

Capture key training opportunities

Not just new-hire and initial programs
On-going and cross-training

Anticipate and prepare for special issues

including
ARM adjustments
Payoffs
Transfers
Potential default issues
11

Ensure Consistency in Applying Procedures

Organizations should establish policies and

procedures to ensure consistency in customer
responses, particularly in relation to:

Escalated issues
Correspondence
Tracking
Qualified Written Request
(QWR)

12

Common Customer Service Training Issues

Successful organizations prepare their CSRs to

handle a wide spectrum of customer issues,
including:
Approaches to quality communications
Handling common borrower inquiries and issues
Handling special issues and inquiries:
Transfer
ARM adjustments
Payoffs
Early outreach to prevent default
13

Think About It

How does your servicing

organization support
customer service and vice
versa?
How effective is your
borrower outreach
program?

14

Questions?

15