Low Interest Rates Impact Time Service

Low Interest Rates Impact Time Service

  • Posted by Thomas Conwell
  • On September 13, 2011
  • 0 Comments

Mortgage refinance applications have skyrocketed due to near all-time record lows in interest rates. This has resulted in record numbers of applications, requests for credit data and subsequent ancillary requests (supplements, file reviews, rescoring…) This dramatic volume increase coupled with new regulatory and GSE requirements impacting credit data, have resulted in temporary delays in our ability to respond to all requests within expected time
frames.

I want to personally apologize for any delays you might be currently experience and assure you that we are doing everything possible to improve our level of service including,

Overtime
Our staff are working mandatory overtime every day, including Saturdays. We anticipate running a six-day week until response times is within normal parameters.

Aggressive Hiring and Training
In the past 45 days, we’ve increased our customer care staff by 15%. We continue to aggressively recruit, hire and train with new classes graduating every 30 days. Our goal is to have additional staffing increases of 30% deployed within the next 45 days.

Operational Efficiencies
We are evaluating and reevaluating every process looking for ways in which to streamline and increase the level of service we provide to our clients.

I’d like to sincerely Thank You for your continued loyalty and patience. You have our promise that we are doing everything within our power to resolve these issues as quickly as possible so we can continue helping you close more loans.

Best regards,

Thomas Conwell III
President/CEO
Credit Technologies, Inc.

 

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