LenderLive Network Inc., a provider of business process outsourcing and technology, has formed a strategic partnership with marketing services firm Customer Retention Solutions Inc. (CRS).
The partnership will allow the companies to provide servicers with analytics and targeted direct marketing, as well as back-office resources to help originate and fulfill refinances and loan modifications.
CRS performs portfolio evaluation and statistical analysis of loan payments, giving servicers an advanced indication of how loans are likely to perform, the company says. In its relationship with LenderLive, CRS offers marketing services via development and distribution of mailers. Once homeowners respond to the mailers, LenderLive then equips servicers with call-center support, as well as the capability to originate and provide fulfillment services.
"By working with CRS, we can help servicers manage the cost of marketing and fulfillment more efficiently, creating an end-to-end comprehensive solution," says Rick Seehausen, president and CEO of LenderLive Network. "The current market has made it crucial for servicers to employ the best method of retention for the loans they service. These services are designed to assist servicers with understanding and target their voluntary prepayment risks, as well as the risks associated with involuntary default."
SOURCE: LenderLive Network