HomEq Says Remote Workforce Is a Hiring Advantage.(HomEq Servicing Corp.)(Brief Article)(Company Profile)

HomEq Servicing Corp. isn't afraid to let its loss mitigation employees work at home.

In fact, the company closed its Tulsa, Okla., loss mitigation office and turned the entire staff into remote employees. The results: improved performance from the company's loan resolution consultants, according to company executives.

Currently, HomEq has 45 full-time equivalents working in its loss mitigation department. All but three work remotely from their homes. The remaining three provide back-office functions in Raleigh, N.C., where HomEq's collection offices are based.

The move to a remote workforce was not done in response to employee wishes, though most of the staff embraced the change. HomEq adopted the practice to suit its own needs.

"We started with the premise if you could manage this business any way you wanted, how would you do it?" explained Dave Holt, chief administrative officer and head of HomEq's default services unit.

By relying on a remote staff of resolution consultants, HomEq can hire the most capable and experienced people available, regardless of where they are located. That means it can, for instance, lure loss mitigation experts away from its competitors without requiring them to relocate to a new city.

The advantage of not being in the building is that the loan resolution consultants can accommodate 24/7 availability. Flexible working schedules allow the consultants to work when they are best able to reach customers, eliminating the need for late night swing shifts to reach customers in different time zones. The consultants, within reason, can be on call anytime.