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Let The QM Games Begin!-Keep Focused

Well the day is finally here for QM and LO Compensation.  Now the real work comes to task and that is the monitoring and managing of your brand spanking new policies.

I’ve saved the most important item to monitor for last and that is the voice of your customers.  Without the customer none of this means anything.  The CFPB is there to protect the consumer from lender abuse, but in my opinion it should be the job of each one of us to protect the consumer from lender abuse.  After all, their business pays our bills.  So as we roll further out of refinances and more into the purchase markets let’s get back to basics.

_____ How do you know how a customer feels about your service?

_____ How do you collect that Feedback?  Who is responsible to aggregate the Feedback?

_____ Do you review the information and search for things that should change?

_____ Is there someone on your staff dedicated to making the consumer experience a better one?

_____ Does the customer know you care and if so how?

_____ Are you collecting information to submit to the CFPB as to how their policies may not serve the interests of the consumer; in circumstances they may not have considered?

_____ How are your third party vendors treating your clients?  Do you mystery shop and watch them?

_____ What is your complaint system?

_____ How can a consumer by-pass the salesforce, operations or call center and speak to the executive offices if they have an issue?

_____ Are you signed up with the CFPB complaint database?  If not, you have no idea who is complaining which gives you no opportunity to remediate the situation.

_____ What person in your company is watching your back in the CFPB complaint database?

_____ Do you have people on your staff who can think outside of “this is the way we have always done it” box?  If not, your company will grow stale and so will business.

_____ Are you taking care of your internal customers (your employees), so that they take care of you and your customers?

Taking care of business means prioritizing the highest needs first and in my very humble opinion there is no better priority than your customers!

Tammy Butler, Master CMB

Author Tammy Butler, Master CMB

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