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Driving Continuity of Customer Service and Compliance

Current market conditions continue to make servicing loan portfolios a coin toss. Many originators strive to maintain control of loan servicing, since it reinforces branding and provides a first line of communication to customers for retention and refinancing. With today’s higher interest rates, however, refinancing has decreased and that has slowed down the normal portfolio attrition rates—with significant cost implications.

Until recently, originators that retained servicing usually derived sufficient income to support it. Yet with slowed production, the cost to service has to be considered. Servicing generally has fixed operating costs that can be absorbed in a performing market. But as a portfolio ages, delinquencies increase and so do servicing costs. How do servicers drive continuity to improve servicing?

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