A playbook for default servicing excellence in high interest environment: Michael Merritt, BOK Financial
In this episode we are in conversation with Michael Merritt, Senior Vice President, Customer Care and Default Mortgage Servicing at BOK Financial. Mike is an expert in default servicing with 10+ years of experience across Mr. Cooper, Goldman Sachs & BOK Financial.
Mike talks about the current "high interest rate" macro environment, how it's expected to shape default rates in 2023 and what servicers can do, to prepare for it.
He also shares how artificial intelligence & ML is critical to keep loan files clean & well indexed. This helps customer agents retrieve the right data in the first instance and provide a smooth servicing experience even during a default surge.
Listen to the full episode for practical insights on using a mix of high touch customer service along with AI automation to tide over default surge in a high interest rate environment in 2023.
This episode is hosted by Vaultedge.
Vaultedge is a mortgage automation software that helps you produce & service more loans doing less work. You can visit us on https://www.vaultedge.com/