Mr. Cooper, a non-bank mortgage lender and servicer, is focused on delivering a variety of servicing and lending products, services and technologies across the U.S. To meet a nearly 40% increase in call volume as a result of the pandemic, Mr. Cooper quickly developed a digital solution that allowed affected homeowners to easily understand what financial options were available to them. The digital offering is unique in that it directs users to a tailored dashboard that enables customers to evaluate their needs and select the plan that’s right for them. Within 90 days of launch, Mr. Cooper released updates to provide a complete end-to-end solution, including a forbearance extension application and loan restructuring options.
- More than 300,000 homeowners have utilized the digital forbearance tool
- Launched a live chat function with quick access to an agent, 93% of customers who engaged had their questions and issues resolved in one interaction
- More than 60% customers utilized the digital tool to enter a forbearance plan, and more than 40% have used it to exit