""Celink"":http://www.celink.com, a Michigan-based reverse mortgage subservicer, has implemented a single point of contact (SPOC) module for its clients' borrowers who are in default status.
When a reverse mortgage borrower fails to pay their taxes or insurance, they are placed into default status, and Celink's servicing platform, ReverServ, auto-assigns the borrower to a Celink associate. This associate works exclusively with the borrower until they remedy the default. They will remain the borrower's SPOC through the remediation or foreclosure process.
Celink says this program eliminates the need for borrowers to re-explain themselves and their circumstances every[COLUMN_BREAK]
time there is any communication, and it gives them reassurance that they have a ""dedicated"" person assigned to them to work through the situation.
Celink SPOCs are only assigned to a small number of accounts so that associates can provide highly personalized service to the borrower, the company explained.
All written communication from Celink to borrowers in default status will contain their SPOC's name and a special ""default-only"" toll-free number that will allow them to easily get in touch with their assigned associate.
""We have always prided ourselves on providing our clients with exceptional service to their borrowers,"" said Ryan LaRose, the company's COO, ""and this is one more example of Celink being proactive with borrowers on a very critical issue.""
Celink's ReverServ software supports Home Equity Conversion Mortgages (HECMs) and Ginnie Mae securitizations, as well as other proprietary reverse mortgage products. The company's reverse mortgage servicing portfolio exceeds $9 billion.
Celink is licensed in all 50 states, as well as Puerto Rico and the U.S. Virgin Islands. Its clients include regional and national lenders, banks and insurance companies, and Wall Street firms.