*A New Approach To SPOC*
*By Tony Garritano*
***I know that new regulation is tough. But some times it just takes a new approach to pave the way for both compliance and future success. For example, The Turning Point is working to deploy its MACH 3 system to support servicers in addressing SPOC requirements designed to drive permanent change to mortgage default and contact center operations by enhancing and better managing the relationship with the consumer. Here’s how:
****In a written statement found on his website, well-known industry analysts Craig Focardi, senior research director, CEB Tower Group, said “The genesis of SPOC was the poor customer support delinquent mortgagors experienced when applying for a loan modification or other form of loan forbearance. Despite the new requirement, some servicers have taken a short-term approach by only hiring new staff without building a scalable default management operation to support them.” He went on to state “the new SPOC requirements – and mortgage servicing requirements introduced by Fannie Mae and Freddie Mac – are driving permanent changes to mortgage default and contact center operations that financial institutions need to make more efficient through increased technology investment.”
****The Turning Point rises to the challenge with MACH3: the mortgage industry’s only compliance-centric enterprise-level CRM and Marketing Automation platform. “Today, the servicing business has shifted and is now more about the relationship with the consumer than ever before”, stated Stephen Margrett, CEO of The Turning Point. “We are excited about the opportunity to apply our deep expertise to improving the relationship servicers have with the consumer.”
****The Turning Point is a provider of “Intelligent Marketing Solutions” for the mortgage industry. The company has specialized in marketing technology for mortgage lenders since 1998, amassing an immense understanding of the nuances and challenges involved in sales lead management and maximizing the value of business relationships. Today, with mortgage marketing attracting greater scrutiny than ever before, lenders and servicers are faced with the need to enhance competitiveness and operational efficiency while staying legal. That’s where technology can help.
Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at firstname.lastname@example.org.