The Key to Effective Mortgage Loan Servicing: Managing Relationships
Success in mortgage loan servicing depends heavily on forming and nurturing strong relationships with customers, rather than simply processing transactions. At its heart lies loan manufacturing: an orchestration process that shapes customer experiences in multiple ways. Understand Mortgage Loan Servicing Options The m ortgage loan servicing is an integral component of the financial industry that involves managing mortgage loans for lenders. This service involves activities such as collecting payments, handling escrow accounts, and providing customer service throughout the life of a loan; however, successful servicing demands a proactive and relationship-centered approach. Understanding the Loan Manufacturing Process Loan manufacturing refers to the process by which mortgage loans are created, processed, and readied for servicing - from initial loan origination and underwriting through closing and post-closing activities. The quality of this process directly affects how well they p...