What it takes to become a top subservicer

How did TMS Subservicing become one of the nation’s Top 10 subservicers? After years as an originator, the company took everything it learned and spent most of the last decade working to improve the servicing experience for all involved.

TMS started by focusing on improving the little things, which then led to the company achieving some impressive statistics including:

  • 90% first call resolution
  • Under 5% abandonment rate
  • 98% customer satisfaction
  • 500,000+ borrowers

Of course, those are just the numbers. The real story is how TMS Subservicing got there. TMS doesn’t want people waiting around on the phone, and it recognizes that resolving issues quickly is not only good for its business, it’s good for yours as well. This is why the subservicer assigns each lender with a single point of contact. If you have an issue it’s handled quickly by someone you know. After leaving originations behind, TMS Subservicing has been totally focused on subservicing, knows what makes you and your customers happy, as well as what makes your portfolio perform.

The mantra at TMS Subservicing has always been to help “Grow Happiness.” So they came up with innovative tools, like the powerful, simple-to-use servicing portal, SIME (Serving Intelligence Made Easy), that gives full transparency and 100% access into your portfolio. They ensure customer calls are picked up quickly (within 90 seconds and often much less), and it’s why you’ll talk to a person live to answer questions and resolve issues to keep abandonment rates low.

First in First Call Resolution

To get to the right answers quickly for lenders and customers, TMS Subservicing has put a lot of thought and work into first-call resolution. Research shows that resolving issues on the first call is the single best thing lenders can do to improve customer service. To that end, its customer care team receives more that 220+ hours of training. The subservicer refers to each member of its call center as CAREologists because of the incredible care they deliver on each and every call. This has resulted in TMS consistently delivering 90% first call resolution, including a 12-month average of 89% and 91% in March 2021.

Be in the Know

To do your job at optimal levels, you need critical information to act on customer matters, and you need it now.

SIME allows you to proactively monitor borrower payment trends and help them stay current. It also helps you look for refinance opportunities, lower your delinquencies and maximize your revenue. In many ways, the award-winning SIME portal makes it easy to manageyour portfolio by allowing you to view customizable dashboards and hundreds of reports 24/7, access loan level detail or the raw data at the click of a button and listen to customer-call recordings on-demand.

“Servicing is the beginning of sales cycle two. We wanted a subservicer that would allow us to stay proactive and in front of our customers,” said Eddy Perez, CEO of EPM. “With SIME technology, it’s easy. There was no other subservicer than TMS Subservicing that put us in the game of sales cycle two.”

Putting Servicer back into Subservicing

TMS Subservicing has Freddie, Fannie, Ginnie, Fitch Rating, FNMA Star, conventional loans, FHA loans, VA loans and more. And the company delivers it all with exceptional service, as is evidenced in its most recent customer satisfaction rating of 98%. Click here to find out more about partnering with TMS Subservicing.

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Source: HousingWire Magazine