Lenders and servicers alike learned a lot in the past decade, and one of the keys to success is applying that knowledge to benefit companies and consumers. Ashley Martin, VP, Letters Management at Mr. Cooper [1], spoke with DS News about these lessons, noting a "humanity-first" approach.
"We have to make sure we're communicating proactively," Martin said.
When anticipating a possible future economic downturn, Martin notes that "we have to be honest," and though things have changed since 2008, it is still people, having "people problems."
"We need to look back, put our heads together as an industry and as servicing shops and say 'what did we do well, and what did we do not so well?' and how are we going to do it better this time?"