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» VISIT US ONLINE @ DSNEWS.COM 59 experts in loss mitigation, trained to help guide the borrower through their options. ompson told DS News that the average tenure for their collections team is seven and a half years—a long time to spend your days interacting with people who are struggling and stressed. "It is not easy work, being on the front line of default, and that's what a person on the phone is," ompson said. "We try to create an environment that has as much flexibility as possible to support the agents, and their families." ompson added that Flagstar also provides opportunities for collections agents to grow their career within the bank, beyond the collections department. Aside from the loyalty instilled by having a visible career growth path, ompson said there is another clear advantage to having these employees move up and outward into other parts of the company's servicing structure. "ey know how to use the servicing system better than any other person," ompson said. "It's hard to find people who can navigate the servicing system, while speaking with customers on the phone, collecting payments, and educating about servicing practices. We want to create opportunities for people with these skills sets." At every stage of the default process, Chappell emphasizes the importance of three things: 1) preparedness, 2) accuracy of information, and 3) and professionalism. ose three qualities working together in sync can make all the difference in how difficult the process feels to the borrower, and whether they feel respected and heard throughout it. "Whenever those systems aren't sharing information, or if they don't have an accurate call history, it can make for an incredibly difficult and tense conversation with a consumer," Chappell said. "With the amount of data and analytics that the servicers have available to them today, it's critical to make sure that you're calling the right consumer, for the right reason, at the right time, working toward the right objective." "e more tools you can give your reps in handling these types of communications, whether that's how to deviate from a script when a certain question comes up or how you discuss these sensitive and personal circumstances that are impacting a borrower's ability to pay, is incredibly important," Connally said. While foreclosure volumes may have dwindled over the years, for the borrower on the other end of the phone or screen, their situation is every bit as frightening and stressful as anything from the peak of the financial crisis. "Servicers need to maintain the level of outreach they do in the early default stages," Connally advised, "because if you can talk them through the available options, it might lead to a better result than going through the foreclosure process." "If your employees create an environment where borrowers are afraid to pick up the phone and answer it because they're going to be berated, they aren't going to engage you," Brousseau said. "When people fall on hard times, if they don't see a way out, sometimes it's easy for them to come to the conclusion that it's time to just walk and start over again. e factor determining whether that happens could very well be that last conversation they had with their servicer." For Carrington, Brousseau said ensuring those communications unfold in positive ways usually comes down to simple training. Carrington operates its borrower communications in this arena out of a command center in Westfield, Indiana, centralizing the network rather than scattering call centers around the country. "ey're in one location, all supervised by the same group," Brousseau said. New-hire training at the facility focuses on the basics of telephone etiquette and familiarizing the staff with the entire loan process from stem to stern. Brousseau receives a weekly report of each employee's training regimen, and he revealed that falling behind on this training can impact the employees' compensation levels. "We take the training very seriously," Brousseau said. On the other end of the spectrum, Brousseau said that Carrington also works hard to provide positive recognition for employees who excel, especially those who receive high marks from the borrowers they have worked with. "We make a big deal about them doing the right thing for the client, and we create an environment where people feel good about that, and it kind of perpetuates itself." "Our obligation to the customer goes through the roof during default, because you're dealing with people in the most sensitive time periods in their lives." —Courtney Thompson, Director, Default Servicing Operations, Flagstar Bank

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