Hyatt Regency New Orleans
601 Loyola Avenue
New Orleans, LA 70113
Tel: (504) 561-1234
Thursday, March 15, 2012
The decision to sell debt is more than just a sale for an originating bank. Concerns such as client treatment and the ongoing reputation of the bank are tantamount to the actual sale price. This session explores the viewpoints of a originator, a debt buyer and a collection agency as they navigate the legal, ethical and business decisions that play roles in these transactions. The intimate working relationships that form these transactions dictate the ultimate success of each account. Learn how all three entities work together from the first discussion to the collection to ensure success for all stakeholders.
Differences between student loans & other asset classes Recent data trends in student loans Nuances of doing collections/recoveries on student loans Case studies Tips, findings & buzzwords
In 2011 the mortgage servicing industry experienced unprecedented regulatory and supervisory change (i.e. consent orders, self-assessments, CFPB, AG settlement negotiations, etc.). As a result, servicers in 2011 spent significant time and resources to quickly bolster compliance programs and improve operational practices including adding staff, improving policies and procedures, strengthening controls, amongst others. Not only was this work done under a short and demanding time frames, it was often done without the benefit of having insight into peer/emerging practices.
Looking to 2012 servicers will now have to look for ways to redefine themselves by taking a more holistic approach to loss mitigation and foreclosure processes. By assessing technology, re-engineering processes and maximizing operating efficiencies, mortgage servicers will be able to establish a competitive advantage among peers by both reducing the cost of collection and improving the borrower experience.More specifically, this panel will cover four areas:
- Discuss emerging practices in loss mitigation and foreclosure
- Why the customer experience matters?
- Strategies to minimize and manage complaints
- How to improve the reporting process at all levels
Access to data and mobility of documents are fundamental requirements of any collections operation and improving the underlying processes should be a goal for everyone involved. But overcoming inertia and the urgency of daily business can sometimes prevent companies from taking advantage of new technologies that make their businesses more effective. Cloud computing is poised to bring changes to the collections industry in a dramatic way.
This presentation will introduce the fundamental ideas behind cloud computing and give examples of how businesses in other sectors have created unexpected efficiencies and increased profits with cloud-based solutions.
Attendees will also see how cloud technologies can be utilized by the debt collection industry specifically, including how to prepare for the significant impact cloud computing will have on data security, confidentiality, and portability.