Navigating Mortgage Servicing: Insights from Roger Stotts

This week on Market Shares, I had the pleasure of chatting with Roger Stotts, CMB, and Chief Servicing Officer at New American Funding. With over 35 years of experience in the mortgage industry, Roger has dedicated the past decade to refining our servicing department at New American Funding.We delve into the nuances of servicing, exploring its significance in-house within a mortgage company—a substantial financial investment and strategic decision that can significantly impact customer experience. New American Funding's goal was to enhance customer service by taking direct control of how our clients are served. Understanding servicing is crucial for mortgage professionals, even though it may seem straightforward.Staying informed about topics like servicing in today's challenging market gives you a competitive advantage in client interactions. In this episode, Roger demystifies servicing and addresses key points such as: • The essence of servicing loans• Challenges and benefits of in-house servicing• Elevating customer service through servicing• New American Funding's approach to top-tier service within regulatory boundaries• Adapting to evolving borrower needs• Assumptions in Mortgage• Navigating regulations in servicingJoin us for this insightful discussion on servicing, mortgage management, and industry trends.