AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Top officials with the Mortgage Bankers Association of America believe that lenders can improve cross-sales and customer retention by placing a higher emphasis on service quality.
Speaking at the MBA's servicing conference here, Martin Foster, a senior vice president at Cendant Mortgage who chairs the MBA's loan administration committee, urged lenders to focus energy on keeping consumers happy.
"A major goal of all of us should be to improve the customer experience," he said.
To do that, lenders need experienced servicing staff who can manage not only payment processing, but also the myriad of regulatory and legal concerns that arise in servicing loans.
Toward that end, servicers need to emphasize retention - as in employee retention. While most of the publicity in recent years has focused on retaining borrowers during a refinancing boom, Mr. Foster urged lenders to make employee retention a key goal as well in order not to lose valuable institutional and business know-how.
John Courson, chairman of the MBA as well as president and CEO of Central Pacific Mortgage Co., said ...
Source: HighBeam Research, Lenders Should Service Customers Rather than Loans.