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Financial Literacy Solutions Deploys Mediation Tool for Counselors

Florida-based ""Financial Literacy Solutions LLC"":http://www.flsvideo.com (FLS), a firm that uses the Internet and video to provide a communication channel for lenders and servicers to educate consumers about mortgage options, will provide a video solution for loan mediation to ""Consolidated Credit Counseling Services, Inc."":http://www.ConsolidatedCredit.org, one of the nation's largest nonprofit credit counseling services.

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""As more states across the nation enact regulations that require mediation as part of the default process, we have seen demand for our services rise dramatically,"" said Joe Cvelbar, director of Consolidated Credit's housing division.

""We have found that video enables our clients to learn about the mediation process in the way they want to learn, making it easier for them to understand the material and share it with spouses or partners who did not participate in the original counseling session,"" Cvelbar added.

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The FLS mediation education center offers Web-based custom videos and automated forms and materials that enable the borrower to learn about the mediation process.

""Most consumers don't understand what mediation is,"" said Garth Graham, president of FLS. ""The videos deliver the message that the mediators are professional third parties that help the lender and borrower come to a solution.""

Graham says the company's video solution has been available for over a year and ""has generated solid results at a very low cost.""

According to FLS, 80 percent of adults in the United States agree they would benefit from financial education, and more Americans learn via online video because it is a medium with which they feel comfortable.

""In addition to the consumer educational benefits, the video solutions from FLS have contributed to a substantial improvement in our productivity,"" said Cvelbar. ""For borrowers who have reviewed our education center, the average talk time has been reduced 20 percent.""

Cvelbar continued, ""We are constantly seeking out ways to better leverage our call center resources and improve the experience for our clients. We also embrace technologies that enable us to provide measurable educational benefits to consumers. FLS's video solution has been instrumental in helping us meet these objectives.""

About Author: Heather Cernoch

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