DS News

DS News Jan 2023

DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.

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30 Industry Updates From mergers and acquisitions to cutting-edge tech tools and solutions, here's the company news the industry is talking about this month. ONE MILLION-PLUS CENLAR CUSTOMERS GO PAPERLESS Cenlar FSB, a mortgage loan subservicer and federally-chartered wholesale bank, has announced that the company has reached a mile- stone of more than one million homeowners who have elected to "go paperless." Cenlar's subscrip- tion base of homeowners grew nearly 40% since January 2022 after the company kicked off its paperless billing campaign. "We do everything we can to ensure that a homeowner's experience is as personalized, frictionless and proactive as possible. Paperless is part of efforts to offer a convenient and easy way for homeowners to manage their mortgage," said Denise Flannery, Cenlar's VP of Marketing and Corporate Communications. "Consumers taking action to go paperless demonstrates the strong level of trust and engagement they have with their financial institution." e company recognized that many home- owners were seeking a seamless way to communi- cate with their servicer, and a digital environment can help pave the way for an array of consumer self-service capabilities. In March 2022, Cenlar began promotional initiatives including a paperless and autopay awareness campaign, as well as emails sent di- rectly to new homeowners as part of its welcome campaign. e biggest leap in new paperless subscribers began when the company placed a pop-up box on the homeowner websites, alerting homeowners to sign up for paperless billing in virtually one click. In 2023, Cenlar plans to educate its clients' homeowners about the self-service tools at their disposal, through avenues like the homeowner web- sites, emails, the Interactive Voice Response (IVR), and chatbots with the hope that even more will take advantage of the programs available to them. Headquartered in Ewing, New Jersey, Cenlar FSB currently services loans in 50 states and its U.S. territories, with nearly 4,000 employees, strategically located throughout the nation.

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