Monday, March 9, 2020
12:00 – 1:30 pm (Eastern Time)
11:00 – 12:30 pm (Central Time)
10:00 – 11:30 am (Mountain Time)
9:00 – 10:30 am (Pacific Time)
Update your collection strategy to improve collections performance!In this bank operations webinar, learn how to devise strategies to minimize problem loans and potential exposure.
Webinar attendees will explore a variety of techniques to maximize recovery and reduce costs in the handling of troubled loans.
During this bank webinar, the speaker will offer insights and strategies learned to help FIs develop the most effective strategies to maximize recovery.
Attendees to this banking webinar will learn:
- Proactive collections and agent scripting
- Payment collection best practices
- Loss mitigation strategies and considerations
- General servicing administration
- Critical requirements when outsourcing default servicing
- The critical Do’s and Don’ts of default servicing
- Developing effective calling strategies and collection campaigns
- Scoring loans based on risk criteria and using risk scoring models in the collections process
- Using automated internal or third party skip tracing applications
- Components of an effective Quality Right Party Contact (QRPC) collection program
- How to establish QRPC through multiple opportunities
- Developing an effective staffing model
- Tips for utilizing agent level scorecards
- Effective and proven incentive plans to employ today
- Call monitoring and handling
- Best practices for strong compliance management systems in default servicing
Dena Somers is a highly regarded bank consultant and compliance attorney. She has provided regulatory compliance and risk management consulting services to financial institutions and companies in highly regulated industries nationwide for more than 20 years. Her areas of expertise include consumer and mortgage lending compliance, Fintech and specialty finance, regulatory compliance training, business strategy and best practice advisement, and corporate governance. Throughout her career, Ms. Somers has advised hundreds of banking and financial institutions— ranging from local community banks to $50 billion financial holding companies— to achieve operational efficiency while ensuring regulatory compliance. Previously, Ms. Somers served as General Counsel to a national mortgage servicing company, Fintech lender, national money service business, and has represented financial institutions in a broad array of complex litigation matters for more than 15 years. Additionally, Ms. Somers is a published author for Lexis Nexis in the areas of Bank Teller training, loan policies, and loan documentation training.
1.5 CPE Credits and 1.8 AAP Credits