03/20/2020: Retained Servicing - Customers Impacted by COVID-19 Coronavirus Pandemic

Information in this newsflash applies to Retained Servicing loans.  


The procedure for customers impacted by COVID-19 with Retained Servicing Loans has been published in KnowledgeOwl under the COVID-19 Coronavirus Impacts and Assistance section.  The button for the COVID-19 assistance information has been moved to the top of the KnowledgeOwl home page. 


Key Points:

  • Always express empathy when speaking with an impacted customer
  • Determine if customer is directly impacted now or if they are inquiring because they may be impacted in the future
  • If directly impacted now, there is scripting to read to the customer and a required task to open for a call back
  • If inquiring for possible future impact, there is scripting to read to the customer and a required comment code
  • For all inquiries on this topic, obtain a current phone number and email address and update MSP as applicable
  • Talking points if customers ask for a deferment, adding a payment to end of loan or to skip a payment – these options are not offered and are not available


Effective with this Newsflash, do not connect calls to Collections if they are due for the current month and inquiring about available options due to COVID-19 impact.  Follow the established procedure to open the applicable task for a specialist to call customers back within two business days.


ServiceMac is finalizing comment codes to track additional sections of this procedure, and there is a TBD note on these sections at this time.  An updated procedure will be published when this is finalized.


Begin verifying phone numbers and email addresses with every caller.  


Please see your manager or lead if you have questions.