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Sitel to Help Expedite Loan Modification Program

Top Servicer Ramps-up with Mortgage Triage, Borrower Qualification and Loan Servicing Solutions

Nashville, Tenn. - August 25, 2009 - Sitel, a leading global business process outsourcing (BPO) provider, today announced that a leading mortgage service organization has contracted for Sitel’s customer care solutions to meet the rising demand in borrower requests for loan modifications, refinancing and new loans. Sitel is currently adding several hundred associates that, when fully ramped, will be able to handle approximately 450,000 inbound and outbound loan modification related calls per month.

 

Under the federal Home Affordable Modification Program (HAMP), requests for mortgage modifications and refinancing are at an all time high and lenders are feeling pressure to do even more. Sitel’s seasoned, turnkey contact center solution adds immediate capacity to assist lenders and servicers in handling both reactive customer queries, and the proactive outreach called for by the program.

 

“Sitel has a deep and rich history in the credit services market, particularly when it comes to the minutia of lender-borrower relationships,” said Don Berryman, global chief sales & marketing officer, Sitel. “One of the primary challenges facing lenders is that modifications will not work for every type of borrower, and they face a significant uphill battle when it comes to sifting through these customers. Sitel’s certified agents can quickly isolate the key information required to determine a borrower’s loan modification options, and can effectively expedite the process.”

 

Sitel brings an outstanding reputation in customer care management and an ability to quickly mobilize a mix of automation technology and live agent interaction, including on-demand self-service tools and outbound notification, so that the servicers and lenders can optimize the cost, speed and flexibility of every interaction.

Several of the top 25 mortgage service organizations leverage Sitel solutions to increase service efficiencies and better manage their customer’s experience.