The massive response by homeowners throughout the United States, due to the worldwide coronavirus emergency has been and continues to be overwhelming for many servicers. The CARES Act provides for an unprecedented borrower relief program. While it is a much-needed tool for homeowners and the mortgage industry, and is supported by federal and state agencies, it creates significant challenges for mortgage servicers. This includes but is not limited to developing scripts/talk-offs, training client-facing FTE, achieving satisfactory response times, documenting program guidelines, providing appropriate repayment options, tracking/monitoring repayment performance, modified credit reporting, modified investor reporting and new program compliance for the CARES Act.
The StoneHill Group recognizes these challenges are important to the consumer, to you and your investors. We also recognize the additional risk a pandemic-driven federal relief program presents to mortgage loan servicers. In support of mortgage loan servicers, The StoneHill group offers a full menu of Servicing QC reviews, including CARES Act loss mitigation, random/targeted reviews, and ongoing Servicing QC checks to monitor your company’s/your sub-servicer’s performance.
Our 100% onshore team is available to help. Contact us to learn more about our proven results and why The StoneHill Group is the trusted mortgage outsource solutions provider. Please visit our website at www.stonehillgroup.com or e-mail sales@stonehillgroup.com for more information.
