Many servicers in the nonprime sector are taking a more active role in communicating with the borrower, according to Standard & Poor's Ratings Services.At a session on servicing nonprime loans during the MBA's recent National Mortgage Servicing Conference, panelists discussed the growing importance of making contact with borrowers, S&P reported. "We continue to take a close look at call center metrics, such as average speed to answer, abandonment, and hold and blockage rates, that measure the effectiveness of the customer service function," said S&P credit analyst Michael Gutierrez, head of the Servicer Evaluations group. New regulations have spurred some servicers to invest in call center technology as a way to monitor regulatory compliance, said credit analyst Richard Koch, a director in S&P's Servicer Evaluations group. "For instance, independent call monitoring groups, often physically situated away from the call center, vigorously monitor and grade employee performance," Mr. Koch said. Such practices can identify training issues as well as noncompliance with corporate policies and state and federal regulations, the rating agency said. S&P can be found online at http://www.standardandpoors.com.
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