To be able to comply with regulators servicers and subservicers need to identify which processes and technologies work best with their existing systems.
Ewing, N.J.-based Cenlar FSB has integrated two software solutions provided by TeleVoice of Houston, a provider of customized telephony applications, including a single point of contact software.
TeleVoice specializes in customized telephony applications. The mortgage loan servicer has added TeleVoice's Interactive Voice Response and Computer Telephony Integration platforms "in order to adhere to new regulations and meet more complex borrower inquiries," executives say.
“As the subservicing industry continues to grow," subservicers will be able to take advantage of the tremendous business opportunity, "only if the right systems are implemented to cater to their customers’ needs and effectively address increasing call volumes,” says Barry Hays, co-founder and senior vice president of TeleVoice.
Along with its private-label servicing operations Cenlar is preparing to offer customers a personal experience and achieve compliance using "customizable solutions that symphonize with Cenlar’s other integrations and processes.”
Among others, Cenlar needed to update its systems to comply with a new borrower communications requirement for mortgage servicers mandated by the Consumer Financial Protection Bureau, and to support an increased level of call volumes since the expansion of its private-label servicing operations, says David Miller Jr., senior vice president of Cenlar.
“The servicing industry is challenged with a host of new compliance regulations, processes and implementation requirements,” he adds, and “technology facilitates complex call routing within our contact center allowing staff to better address the most complex borrower inquiries and comply with SPOC and loss mitigation requirements.”
For example, TeleVoice’s Screen Pops are customized to Cenlar’s specific call center architecture that enables users to quickly present borrower loan information to customer service representatives and receive detailed reporting needed to ensure compliance "and validate business procedures in the event of an audit."