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Thursday, April 24, 2014

4:45 p.m. - 5:30 p.m.
Track: Operations/Strategy View Track

HOMEOWNER UNEMPLOYMENT: ATTACKING THE ROOTS OF FORECLOSURE

Traci Luckhaupt Vice President of Loss Mitigation, FIFTH THIRD BANK
Kristi Weigant Chief Development Officer, NEXTJOB

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.

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