Convergys Corporation (NYSE: CVG), a global leader in relationship management, announced today that Sterling Home Retention Services, the leading provider of loss mitigation services for the financial services industry, has signed a contract for Convergys' relationship management solutions specifically designed to support the loan modification process for the top 20 mortgage servicers, Government Sponsored Enterprises, and investors in the U.S.
Requests for loan modifications and refinancing are at an all time high, thanks to the government's Home Affordability and Stability Plan (HASP). Convergys Loan Modification Solutions offer a turnkey customer outreach solution that greatly expedites the acquisition of information vital to fulfill the complex loan modification process.
Through its Loan Modification Solutions, Convergys provides Sterling Home Retention Services with the expanded customer contact capabilities it needs to help borrowers keep their homes. Following Sterling's initial contact, one of Convergys' highly trained contact center agents gathers information from borrowers. Convergys utilizes Sterling's TouchPoint loss mitigation platform via the web to enable Sterling representatives to determine the loan modification options available to the borrower. Upon qualification, the workout process begins immediately with a Sterling representative on the same call.
Convergys' outstanding reputation in customer management and its ability to quickly mobilize the number of knowledgeable agents to support the program using the latest tools, prompted Sterling to choose Convergys. This mission-critical customer contact component of the loan modification support process is providing relief for borrowers throughout the country.
"Sterling required engaged, high-performing, well-trained agents to provide the top performance metrics to our customers. Choosing to launch this relationship with Convergys has enabled us to outperform the entire market," said Sterling Senior Vice President, Chris Sabbe. "We were blown away with the quick ramp-up and superior account management Convergys was able to provide. Using expert Convergys contact center agents, anxious borrowers are receiving both the information they need to retain their homes in a timely fashion and an empathetic person to help them work through their difficult situation."
"Many borrowers today are defaulting on their loansheir loans and are facing the possibility of foreclosure as the current economic crisis continues its hold on the housing market," said Jim Boyce, Convergys President, Global Business Units. "Convergys' certified contact center agents solicit the key information required by Sterling to explore their loan modification options and retain their most valued asset. Convergys Loan Modification Solutions customer contact capabilities effectively expedite the loan modification process for Sterling, allowing it to accelerate workouts for borrowers and significantly mitigate losses for their customers."
Convergys Loan Modification Solutions include skilled contact center agent services, intelligent on-demand self-service automation from Convergys On-Demand Speech, outbound notifications for proactive communications to customers, and analytics to aid with call routing and customer satisfaction monitoring and metrics. This building-block approach allows mortgage providers to quickly increase their capabilities to accommodate scalable customer call volumes for private- and government-initiated programs such as HASP.