With the rise in forbearance volumes servicers, must rethink their mortgage default servicing operations and technology. Improving the mortgage loan servicing process will help servicers limit losses and keep more borrowers in their homes. Servicers must improve mortgage servicing operations to improve borrower loyalty and stand out from the competition.

According to the Mortgage Bankers’ Association, only 17% of borrowers plan to return to their same mortgage servicer for another loan. Additionally, J.D. Power’s 2019 U.S. Primary Mortgage Servicer Satisfaction Study, stated mortgage servicers were at the bottom of the industries studied with a score of 777 out of 1,000. Continue reading...