Scoring tools to battle delinquencies.
Mortgage Banking › Vol. 58 Nbr. 5, February 1998 ›
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Summary
Mortgage banks
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Scoring tools to battle delinquencies.
Collections work can be guided by scoring tools that help prioritize calling efforts for maximum effectiveness. Knowing which type of scoring models to use at what stage delinquency is crucial.
Profit margins in the mortgage servicing business have tightened in recent years and many feel they may tighten further. Given that, servicers are looking for still more ways to improve the efficiency of their operations. One promising area where new efficiencies are being sought is delinquent loan collections management. Servicers are specifically looking to the employment of aggressive and well-planned collections campaigns to bolster performance. Collections management has become increasingly important as the number of personal bankruptcies has surged to record levels. The increase to more than I million bankruptcy filings in 1997 comes even as the economy is in the midst of one of the longest peacetime expansions in hi...See the full content of this document
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