BEDFORD, Mass., Oct. 1, 2009 (GLOBE NEWSWIRE) -- The inauguration of the Home Affordable Modification Program (HAMP) is putting intense pressure on loan servicing operations, which lack staffing and systems to manage the quantity of loan modification requests. A recent Servicer Performance Report reveals that more than 80 percent of mortgage servicers are still struggling to meet the guidelines of HAMP.
In order to meet these guidelines, servicers need to accelerate trial loan modifications by automating and improving customer communications and information exchange at all stages of the modification process: Qualification, Processing, Trial Period and Underwriting.
On October 8, SoundBite Communications, Inc. (Nasdaq:SDBT) will co-present a one-hour webinar featuring Craig Focardi, Senior Research Director at TowerGroup, and discuss how an on-demand, proactive customer communications solution can reach borrowers more effectively and efficiently with timely and relevant information to help servicers:
- Accelerate the collection of missing documents and verify information from homeowners to complete the qualification process
- Boost the number of trial modifications started through automated reminders to borrowers
- Reduce inbound call volumes and operating costs by proactively communicating with eligible homeowners
- Reinforce on-time payment behavior throughout the trial payment period
Webinar attendees will receive a complimentary white paper on proactively communicating with borrowers participating in the Making Homes Affordable (MHA) plan and the mortgage originations lifecycle authored by TowerGroup.
REGISTER AT:
http://w.on24.com/r.htm?e=163255&s=1&k=6A05FCDE31ACBE7511269AFAA4D4F670&partnerref=press
WHEN: Thursday, October 8, 2009
2:00 p.m. ET/11:00 a.m. PT
"The overwhelming majority of loan modification documents submitted by borrowers are missing information and mortgage servicers are incurring huge costs to contact borrowers to collect this information," said Matt Edmunds, vice president of Financial Services & Collections at SoundBite Communications. "Proactive customer communications can help mortgage servicers quickly communicate time sensitive information, reduce operating costs and streamline the MHA enrollment process."
About SoundBite Communications, Inc.
SoundBite Communications provides on-demand, integrated multi-channel communications solutions that enable clients to achieve superior business results. Building on its foundation as a leading provider of automated voice messaging services, SoundBite offers integrated voice, text and email messaging solutions that help clients deliver the right message, to the right customer, using the right channel, at the right time. Organizations in industries such as collections, financial services, retail, telecom and media, and utilities rely on the SoundBite Intelligent Communications Platform to send over a billion messages annually for collections, customer care, and sales and marketing applications. For more information, visit http://www.SoundBite.com.
SoundBite is a registered service mark of SoundBite Communications, Inc.
(SDBT-G)
CONTACT: SoundBite Communications
Media Contacts:
Marie Ruzzo
781.897.2632
mruzzo@SoundBite.com
Schwartz Communications
Scott Love or David McKee
781.684.0770
SoundBite@schwartz-pr.com