Customer experience

Customers' needs and expectations changed drastically in 2020, overturning conventional thinking about their experience in the process. How can we strike the right balance between embracing digital channels and recognizing the value of human touch?

The pandemic has exacerbated delays and inefficiencies in loan manufacturing, while adding to security risks.

An internally built system called Advanced Listening analyzes phone calls, emails, text messages and more, identifying possible compliance violations, systemic issues and opportunities to improve processes, products and customer service.

The annual survey and ranking of mortgage servicers found that while trust is increasing, borrowers were frustrated with some digital interactions and long wait times with call centers.

Consumer mortgage originator satisfaction scores fell in the second quarter as lenders had to work through the increase in application activity, a J.D. Power report said.

The average number of attempts to defraud mortgage companies each month increased by 42% this year and hit the smallest businesses hardest, according to LexisNexis Risk Solutions.

With the mortgage industry inching closer to full digitization, lenders need to strike the right balance of man-versus-machine as borrowers still look to leverage human interaction during the origination process.

Linda Lacewell, New York’s superintendent of financial services, said the CFPB's debt collection proposal does not go far enough to protect consumers.

Like many regional banking companies, Huntington Bancshares casts itself as a community bank, albeit one with more than $100 billion in assets.