Thursday, April 24, 2014
It’s no secret that the cost to service loans increases with every new regulation passed, and every loan that goes into default. But is the cost to service loans too high to support servicing as a profitable business for small to mid-sized servicers or an opportunity to leverage a changing market? Join this panel in a discussion of ways your company not only can survive, but thrive in this opportunity-rich, albeit highly regulated environment.
Audience open discussion
This time will be used to hear how your peers are addressing these challenges and finding success..
With a spate of new rules and regulations related to the customer experience affecting the financial services industry, and mortgage specifically, firms are keenly focused on the topic of problems and complaints. Ernst and Young and J.D. Power will discuss how firms can effectively:
- Improve the operational efficiency of complaints management
- Manage customer complaints to turn them from a burden to a tool for positive change
- Resolve customer issues to limit the overall negative impact on the customer experience
- Reduce the regulatory risk to the organization
- Improve the brand reputation in the marketplace
Those organizations that are able to improve the complaints management process realize critical cost savings, while continuing to improve the customer experience.
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.