 Downloads
| Downloads |
| Subservicing Assessment Form (Existing Portfolio) |
This form will help in developing customized pricing for business partners with
an existing portfolio. It will give Countrywide a better idea of your portfolio
and specific needs. Please complete the form and attach it to the . |
 |
| Subservicing Assessment Form (No Portfolio) |
This form will help in developing customized pricing for business partners
without an existing portfolio. It will give Countrywide a better idea of your
portfolio and specific needs. Please complete the form and attach it to the . |
|
FAQ
Please take a moment to read some of our frequently asked questions:
Q. Why should I choose
Countrywide as my servicer?
A.
Countrywide has the unique ability to manage a multi-million loan portfolio
while focusing on details that are important to our business partners and
borrowers. Through our vertical integration and investment in people,
technology, and systems, Countrywide can offer our partners a variety of
services that are unparalleled within the service industry. Countrywide takes
great pride in partnering with firms that create enhanced value and leverage
the economies of scale that exist.
Q. What
services make Countrywide the right choice for my portfolio?
A.
First your borrowers will receive the highest quality loan servicing in the
industry. Countrywide has more than 1,200 customer service representatives that
are empowered to address most questions utilizing state-of-the art technology
(“one-stop” shop) that provides, fast, efficient and accurate responses to
borrower inquires. This technology is not limited to customer inquires.
Countrywide recognizes that loss mitigation and delinquency control are
critical and must be focused on to mitigate losses for our investors and
business partners.
Countrywide offers several servicing options. From Countrywide branded
servicing to full scale private labeling. Our options allow the partners to
choose the branding that is right for them. Countrywide offers many other value
added services that improve profitability and enhance the value of the asset
entrusted to us.
Q. How will I
know that my loans won’t get lost in the mass?
A.
With Countrywide operating in the highest economies of scale its business
partners enjoy the benefits of our experience and diversity. To ensure that our
partners’ loans don’t get lost in the mass we employ a dedicated team of
seasoned staff to act as our business partners’ advocate. We provide an account
manager to our business partners to ensure one central point of contact from
the inception of the relationship. Unlike other subservicers with hundreds of
business partners, we’re not interested in having the most “Clients”, just the
happiest and best served. That attitude has helped to create the most diverse
but selective business partnerships, which are very successful. All the
benefits of a large international financial services form with the high-touch
service reminiscent of your local hardware store.
Q. If there
is a catastrophic event, will my information be lost?
A.
We have multiple failover redundant servicing facilities that provide complete
disaster recovery 2000 miles apart to protect our clients data.
Q. Will Countrywide solicit my
customers?
A.
No, we recognize the importance of customer retention and we will not solicit
your customers. Each loan boarded to our mortgage loan servicing system is
flagged with a “do not solicit” indicator which prevents any sharing of
information with other internal businesses within Countrywide. In fact, we have
established processes in place to refer business opportunities, such as
prepayment notifications and refinance requests, to your office.
Q. Will my calls be
answered in a specialty queue?
A.
Yes, calls from your customers will be routed into a specialty queue. This
queue has a team dedicated senior-level Customer Service Representatives to
assist with the particular of servicing your portfolio.
Q.
What if I or my customers want to view account information on line?
A.
Our secure web site has 24/7 convenience with easy navigation. Portfolio data
is easily available from a high level overview down to a loan level detail with
easy accessibility to monthly reports for all users – thus eliminating email.
Customers can also choose to schedule payments on line.
Q. How do I know my
customers’ information is protected?
A.
Given Countrywide’s leadership in the mortgage banking sector, we understand
that our subservicing business partners may be concerned about the
confidentiality of their customers’ accounts. Our extensive experience in the business has
taught us the value of our own customers. We are a diversified financial
service provider and are also an excellent processor. We believe that it is in
our client’s best interest to take advantage of that expertise. Countrywide is
committed to the subservicing business and understands that such commitment
requires absolute integrity on issues of customer confidentiality.
Countrywide has also implemented the Information Security Program and has
designed it in order to meet the regulatory and/or legislative requirements of
the OCC & FFEIC as well as GBLA and HIPAA . Countrywide monitors network
access activity and has implemented security applications that detect and
appropriately reject unauthorized intruders. Physical perimeter barriers,
network access controls, user authentification filters and activity tracking
are all in place.
Q. What technology
strategies do you have in place?
A.
Countrywide is committed to being on the leading edge of technology and unlike
other mortgage servicers and subservicers Countrywide is not dependant upon
outside service bureaus. Countrywide’s I.T. staff is familiar with the software
systems, thus there is efficiency when the need arises to respond to new
products, new investors or other changing business needs. Dealing with packaged
software would not give us the same flexibility or quick turnaround. Since we
own the software for various systems we are free to modify it for business
needs at any time desired by the company. Since our inception in 1969
Countrywide has made an unparalleled investment in the technology of mortgage
loan servicing and our subservicing and our subservicing business partners take
advantage of that investment. All of Countrywide’s facilities were
designed to operate on its propriety IBM AS400 servicing system and to mirror
one another for consistency and redundancy. The Countrywide Loan Servicing
computer environment is one of the largest IBM AS/400 sites in the world.
Q. How can I be sure that my quality standards are being followed and my
customer is being taken care of?
A.
Countrywide understands the importance of taking care of the customer and
providing accurate information while maintaining quality. Countrywide has two
dedicated programs for continuous improvement, created by the Countrywide
Performance Management Group. First the business solving methodology developed
specifically for Countrywide is called “FASTER” which stands for Flow, Analyze,
Solve, Target, Execute, Revise. FASTER is a tool kit used to manage projects to
improve performance in each Countrywide business unit. In addition,
Countrywide’s Quality Assurance Program (QAP) guarantees that the highest
standards are maintained throughout the organization. You will be able to
monitor and track key performance statistics. Each department within Loan
Administration prepares a written monthly Quality Assurance Program book
presenting key statistics, accomplishments, issues and relevant information
about the unit’s progress in meeting service levels and goals established. QAP
books are reviewed with the divisional manager and the Managing Director for
services each month to ensure accountability throughout the area. This
oversight and management tool has helped enable Loan Administration to reach
the highest levels of servicing excellence.
Countrywide employs an external independent third party to rate its system
integrity and certify management control with a SAS70/Type II. The
Internal Audit Department performs and independent appraisal and objective
assurance consulting activity within the company for review of operations as a
service to the Audit Committee as well as Company Management. Internal Audit is
concerned with all phases of business activity. The department is engaged in
various reviews including enterprise wide risk assessment, internal control,
and operational audits, compliance reviews, financial audits and system
development/application reviews.
Q.
Do you have any system in place to track the work flow of the operation?
A.
Data Integrity resides within the Loan Administration division of Countrywide
Home Loans, Inc., and aims to ensure that business workflow processes and
systems work together efficiently to provide consistent, reliable, timely data.
Our extensive interaction with other departments and divisions, along with our
diverse expertise, allows us to make intelligent recommendations regarding both
existing and new processes, in order to improve workflow and system
efficiencies corporate-wide.
Q. The mortgage business changes all the time. How do I know if your company
will be around?
A.
Countrywide is committed to providing institutional services like subservicing
and is dependant on it for the future of the corporation. As a corporation we
feel that the future of our success depends on b2b services which include
subservicing so prospects don’t have to question our commitment.
|
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