Preferred

Value of Preferred Status for Mortgage Servicing Companies

aboutMYmortgage.com provides a critical communication opportunity to retain your customers and reduce the number of complaints to the CFPB and other regulatory agencies!

As a Preferred Servicer in the aboutMYmortgage.com Preferred Servicer Network your customers who are actively searching the Internet to refinance elsewhere are sent directly to your designated “customer retention specialist”. Your specialist answers questions about your customer’s current mortgage and provides products and/or solutions so that you can compete to retain your customer.

aboutMYmortgage.com also invites unhappy customers who may have misunderstandings about their mortgage and/or other servicing related issues to talk to their mortgage servicer first. These unhappy customers are also sent to your designated “customer retention specialist” so that they may answer questions and resolve misunderstandings before a customer files a complaint.

Is Preferred Servicer status right for your company? It is if you agree with any of the following:

  1. Servicers are the best source of the facts regarding their customers’ existing mortgage and escrows.
  2. Servicers would like to have the opportunity to discuss with customers the “facts” about their mortgage before they refinance with a competitor or file a complaint.
  3. Homeowners often make costly mistakes when refinancing because they do not know the “facts” about the mortgage loan they already have.
  4. Servicers don’t have enough forewarning to educate customers about their choices before they file a complaint or switch to another servicing competitor through a new refinance loan.
  5. Many of the servicing complaints that the CFPB received may not have been filed if the customer had an opportunity for a conversation with their servicer before filing the complaint.(1)
  • According to the CFPB annual report for 2013, in 66% of all mortgage cases filed, consumers did not dispute the company’s initial response.
To learn more about becoming a Preferred Servicer call 888.684.2220 or email us at: servicer@aboutmymortgage.com