4 Things to Look for in a Mortgage Customer Services Provider
Capital Management Services is more than a collection agency; we service performing accounts including mortgage loans. Our full-service dedicated mortgage customer services and default mortgage collections division has the technical expertise and customer service caliber to manage all aspects of mortgage loan accounts—including escrow account management, tax and insurance payment management, customer service and general account management, delinquency recovery plans, and default and foreclosure prevention and remediation plans. Experience and our unique place in the mortgage services, call center, and receivables management industries have given us perspective and understanding of what drives mortgage customer services and default mortgage collections success.
Customer satisfaction is at the core of successful mortgage customer services. Service, personability, compassion, and knowledge competencies are a few of the key values we emphasize on our team. Finding and developing the right people for this specialized career is critical. Our representatives enjoy helping people, have a deep understanding of compliant mortgage loan servicing components, and possess careful attention to detail. Many are also bilingual, allowing us the flexibility to better serve our ESL customers.
In addition to the right mix of personal and professional qualities, successful representatives need to have a strong grasp of the significant personal impact mortgage loans and mortgage service representatives can have on a customer’s life. First and foremost, we are people too. We know first-hand what it’s like to have families, responsibilities, life circumstances, and mortgage loans of our own. Representatives must maintain the perspective that mortgages are often the largest, most significant debt many people will incur in their lifetimes, with a direct impact on their living situations and ability to shelter themselves and their families. Keeping this in mind allows the patience and grace appropriate for each situation.
Training & Development
Knowledge competency, in addition to customer service excellence, is another driving factor of mortgage customer services success. Customers need to be able to get their account needs met, their inquiries answered, and their payments handled with the top-tier customer care and support that a large loan deserves and requires. Understanding the ins and outs of mortgages, the account lifecycle, escrow, and account management processes helps to provide a positive experience for customers.
Capital Management Services’ Mortgage Customer Services and Default Mortgage Collections teams are highly trained and have a thorough understanding of the full account cycle from origination to closure. The mortgage industry is closely regulated, and rightly so. We are highly sensitive to and aware of the complex and rigorous compliance requirements involved in mortgage services, and extremely cognizant of the responsibility to provide compliance and brand protection for our mortgage creditor and investor clients.
Data Management Systems
The right data management systems help keep mortgage customer services running as smoothly as possible. Managing timely tax and homeowner insurance payments for escrow accounts, performing yearly escrow analysis, tracking customer payments and due dates, and all the other critical functions of mortgage customer services require strong organization. A strong technology infrastructure is the best way to ensure all moving parts continually operate smoothly.
At CMS, we invest in software and data storage systems that help us automate basic functions, alert our representatives to critical timelines and flags, and reduce the demand for servicing specialists’ attention to administration and data entry so that we can focus most heavily on customer care. We are SOC 2 Type 2 certified, so clients and customers can be assured that data privacy and security are integrally woven throughout our systems and processes. Our Internal Auditing Department also ensures compliance with all procedures developed and outlined by each client’s contractual agreement.
Proactive, Graceful Professionalism
Monitoring timely payments and proactively following up to prevent delinquency, negative credit reporting, or default are critical to mortgage services success. Organization and a strong dose of compassionate professionalism keep the wheels greased and moving freely. While automation and electronic communications are extremely valuable and often preferred by customers, a personal touch is called for and often highly appreciated when it comes to remediation for such a large and important loan.
Sometimes life happens, and mortgages are often a person’s largest monthly bill. We talk with consumers through all kinds of hardships, working out plans to help consumers stay in their homes and keep up with their mortgage payments. Whether working out repayment plans, loan modifications, or preventing foreclosure, we’re familiar with the variety of options that creditors may allow, and we have the skill and expertise to walk customers through those options according to their needs and client guidelines. Should the unfortunate happen, we can remain a single point of contact to assist with graceful transitions when customers can’t catch up.
To learn more about mortgage customer services and default mortgage collections with CMS or about the other services we offer, please visit our Expertise and Services pages. For our latest news and articles, we invite you to follow Capital Management Services on LinkedIn or like the Capital Management Services Facebook page.
If you are a mortgage lender or investor with questions about our mortgage customer services and default mortgage collections programs, we invite you to contact us to learn more or get started.
About Capital Management Services
Capital Management Services, LP is a nationally licensed collection agency headquartered in Buffalo, NY that provides the highest quality of proven recovery and project solutions across the financial industry. We maintain our reputation as a proven leader and performer through our attention to detail and tailoring our strategies to meet the unique needs of each portfolio or project. We are proud of our ability to consistently surpass all industry standards for quality and provide outstanding services that add strategic value to every client partnership.