Time is one of our most precious resources, and it’s non-renewable. When a vendor fails to respect that, it reveals a lot about their business practices.
As a loan servicer and fund administrator, I’m continually amazed at how many servicers fail to respect their clients' time. Whether it’s the time taken to record a funding, update an assignment, or simply issue a payoff demand, the lack of urgency is a widespread issue in the servicing industry.
If this is the treatment you're experiencing, imagine what your borrowers are going through. Many borrowers don't distinguish between you and the servicer—they see the servicer as an extension of your organization. A lack of responsiveness and care can drive great borrowers away, and that’s something beyond your control.
Having worked with the two largest software platforms in the industry, I can confidently say it’s not the software causing delays. While no software is perfect, it’s not responsible for loans being boarded late, draws being recorded days or weeks after the fact, or the frustratingly slow process of obtaining payoff or reinstatement demands.
When we founded Servicing Pros, our mission wasn’t to become the largest servicer, but to build a highly responsive team that offers custom solutions aligned with our clients’ brand values. We partner with lenders and funds who value responsiveness—not just to them, but also to their clients. Our team is made up of professionals with finance or accounting backgrounds, and we invest in their ongoing training to ensure top-tier service.
Choosing the right partners is critical for success. It’s not just about the quality of the product or service; it’s about working with people who respect your time, communicate effectively, and follow through on their commitments. If a vendor doesn’t value your time, they’re not valuing your business. Don’t hesitate to find a partner who does.
Post created on 01/29/2025