CV Escrow | Servicers Can Take Advantage of Fannie Mae Customer Care Training
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Servicers Can Take Advantage of Fannie Mae Customer Care Training

Servicers Can Take Advantage of Fannie Mae Customer Care Training

In an effort to establish better relationships between servicers and home owners, Fannie Mae is offering a new program called “Know Your Options Customer Care” for servicers. The customer care training program will benefit servicer call center employees who are on the front lines answering questions of concerned and often frustrated home owners.

“Know Your Options Customer Care” will feature training sessions and provide a script to better facilitate interaction with home owners. It will also offer a level of quality control, ensuring that all servicers are delivering consistent customer service. The program has been in development for about a year, and Fannie Mae has already implemented the program with 18 of its largest servicers.

The program aims to establish one central point of contact in the call center for each client to build a relationship between the servicer and the home owner. The hope is that foreclosure prevention options will be presented in a more clear and concise format so that home owners who are in jeopardy of losing their homes understand what avenues they have to explore. GSE is also taking other preventative steps to help consumers avoid foreclosures, including launching a new website with educational tools for home owners and reaching out to struggling home owners early. Other initiatives include reducing the timeline for short sales, and opening new Mortgage Help Centers in areas hardest hit.

Currently, servicers who have participated in the program have reported 20-30% increases in workouts. Adds Leslie Peeler, SVP of Fannie Mae’s National Servicing Organization, “What we’ve learned through the housing crisis is that if everybody takes the responsibility to work together and act early, then we can prevent foreclosures and keep families in their homes in many cases. We want our servicers to be trusted counselors to their customers, from attentively collecting documents to advising them of their options and guiding them through the process.”

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