RC_LA_CR_200.2 Loan Servicing Concepts for Customer Service Representatives
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| Option | Price |
| Member | $50.00 |
| Non-Member | $100.00 |
Loan servicing is one of the three primary disciplines in mortgage banking and represents a significant source of long-term value and revenue for a mortgage company. The servicing portfolio is a critical asset, and multiple departments work together to manage it effectively. Customer service representatives (CSRs) must understand how these functions interact in order to support borrowers and protect the company’s interests.
Loan Servicing Concepts for Customer Service Representatives begins by reviewing the major functions performed within a servicing department, including new loan setup, records retention, document management, escrow administration, payoffs, assumptions, collections, loss mitigation, foreclosure, bankruptcy, REO, and accounting. The course then examines the primary objectives of servicing, such as maximizing income, managing servicing fees, reducing risk, minimizing costs, and fostering borrower goodwill.
This is a single-family/residential course.
Topics:
- Loan Servicing Functions
- Loan Servicing Objectives
Seat time approximately 1 hour.
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