Today’s collection environment has become more complex. The mortgage servicing companies need integrated collection and recovery solutions to improve collection and recovery rates. It seems that Green Tree Credit Solutions and its affiliate company, Landmark Asset Receivables Management are on their way to improve their collection and recovery rates.
Green Tree Credit Solutions has made a significant improvement in collection recovery rates as a result of deploying the debt collection solution from Latitude Software. This move is certainly going to improve the company’s bottom-line income.
Equipped with features like workflow, and partner communications, Latitude Center enables Green Tree and Landmark to achieve the greatest result at a lower cost. Latitude Center determines whether or not a collection account should be pursued based on factors such as location, regulations and bankruptcy filings. This maximizes the productivity of collectors, while uncovering additional revenue opportunities.
In addition, Green Tree and Landmark are also using the Latitude Automation Suite, Latitude Exchange, and Latitude Web Access.
"Latitude's custom workflows and account analysis features have helped us increase our collection recovery rate by 25 percent," said Green Tree's vice president of ARM operations, Mark Foley.
"Latitude Center has ensured that our collectors work on only the most productive accounts, while helping us identify opportunities in our portfolio that we didn't even realize existed," Foley said.
"Latitude Center's open architecture was critical because it enabled us to create custom workflows tailored for specific products and clients," he said. "And unlike our previous system that required collectors to memorize codes for recording call outcomes, dispositions and follow-up, Latitude Center provided drop-down menu options, which meant significant reductions in both training and call handle times."
"Latitude Center's flexibility can help us move beyond our mortgage line of business into other collection areas such as credit cards and auto loans," said in a statement, Landmark's senior managing director, Ken Frye.