The Great Mortgage Servicing Reset & How to Win in 2025 Webinar – LinkedIn Recap
Let’s chat about technology and how servicers are redefining their role within current operations for 2025. Lucky for you, our team ( Perry Hilzendeger ) and a few key execs (?David Sheeler, Senior EVP at Freedom Mortgage , Liz Balce, EVP Loan Servicing at Carrington Mortgage Services, LLC , and Earl Dunham, SVP Servicing at Gateway Mortgage ) participated in a webinar with HousingWire discussing this very topic (and more).?
If you missed the live webinar, here are the highlights, but we suggest you take some time to watch the recording to get the full jist.?
Communication is Key for a Positive 2025??
To begin the discussion, Perry asks the group about their outlooks for mortgage servicing in 2025 – and while all agree they do not want to be in the business of predictions, they see the upcoming year as one of stability, even as outside pressures grow. Liz (Carrington) said:???
I see 2025 as a year of stability – there is absolutely outside pressure, but it is not the gloom and doom yet."? She later added, "In 2010 people were prioritizing their car payment over their mortgage, now there are many families who are remote workers and willing to consolidate [their cars.]
The experienced leaders also agreed that communication is more important than ever to success in the industry, as today’s customers expect consistent and proactive communication, especially throughout the loss mitigation process. Earl shared that improving communication and providing “white glove service” is a priority for Gateway when it comes to any and all hardship processes.??
We are seeing a lot more borrowers take advantage of loss mitigation solutions" "We are making a big investment in our communication plans and communicate before the customer has to ask for an update.
Similarly, David shared that a priority for Freedom Mortgage is to find ways to successfully communicate with customers to find ways to help them earlier in the loss mitigation process.??
[The] economy is robust [with] fantastic loss mitigation options for customers who have a bad period. But we need to focus on the customers on the edges.?
How to Prioritize Technology to Increase Efficiency and Efficacy???
Next, panelists discussed long-term strategies, including embracing technology tools like AI, as they adjust to post-pandemic changes in consumer habits and expectations Liz shared about an exciting partnership between Carrington and Sagent on claims and default.??
[Carrington] partnered with Sagent on claims and default [and] spent the last couple of years really partnering tightly, so that we have a lot of first level Q + A being done by system. We have seen huge gains in efficiency, even as we see less default. This will pay dividends in the future as we see increased default.
Perry joined in Liz’s excitement about Carrington and Sagent’s partnership and said this about Sagent’s mission to revolutionize America’s servicing industry with the incorporation of innovative technology tools.???
Particularly in mortgage servicing what we have seen is machine learning, now we are moving to large language models. We are in the learning stage of AI, and it is enabling us to take actions to be more efficient. We are doing this today at Sagent in our engineering organization, using AI to write out programming. It is driving efficiency [and] ensuring less mistakes.??
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