Exact improves mortgage servicing
This equips its collectors with access to live credit data and analytics which enables them to review in real-time borrowers’ spending habits.
Therefore if a borrower claims they can’t pay their mortgage but is spending money on non-essential items this can be discussed with the borrower with the benefit of real-time credit data.
The intelligence also facilitates the agreement of realistic and affordable repayment solutions while treating borrowers fairly.
Ian Lonergan, chief executive of Exact, said: “It is important that we invest in the best technology in order to improve our intelligence and expertise not only to help borrowers who find themselves in a difficult situation but also to protect our clients from arrears and ultimately losses.”