Customer Service in the New Lending Climate
Filed under: Customer Service, Quality in Lending — admin @ 12:29 am
Customer service means many things to many people. However, in the mortgage industry, the definition of customer service is changing. For several years now, customer service has only been defined by speed and turn-time. The “customer” was defined by who was driving the volume: the originator.
Today, The “customer” in customer service are a wide range of institutions that rely on quality production to ensure their viability in a changing market. These include the investor, the hedge fund, the world banks and, finally, the originator. The originator was mentioned last because they are now last on the list of parties to the transaction that can demand speed.
Volume no longer rules the industry; quality production – loans that can actually sell- rules the day.