Insights

Publication | BRG

The Case for an Independent COVID-19 Servicing Review

August 7, 2020

Servicing of consumer finance loans has been an “in-person” activity historically, with the ability to physically wave a hand or raise a flag and have a supervisor walk over to assist with a particularly nettlesome customer issue. Moreover, handoffs between different servicing groups—particularly bankruptcy, collections, and collateral recovery (foreclosure/repossessions)—have always been an area for heightened risk and often the root cause for operational and compliance breakdowns.

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