Unemployment drives 50% of mortgage defaults. Yet most efforts focus on the expense side of the equation—modifications and credit counseling. What's been missing is a focus on the income side of the equation - specifically, employment. We will:
1) examine how unemployment affects borrower behavior and response to outreach,
2) analyze a case study of Fifth Third Bank's innovative and financially-profitable homeowner reemployment program and
3) explore the impact of reemployment on industry reputation management.