Shared Vision of Service: Reaping the Home Field Advantage in outsourcing

The trend to outsourced settlement services is toward national vendors. However, the one-size-fits-all economies of scale by which national vendors profit rarely produce the promised benefits in serving your customers in locations with distinct and unique requirements such as New York.

Yes, outsourcing offers efficiencies and leverages specialization. But the lender’s reputation for service and the trust that has been built for the brand are clearly best protected by working with a settlement services company with aligned vision, goals and strategies, and an in-depth knowledge of New York’s markets.

The Vendor is Your Face to the Consumer
The settlement service’s agents are often the only representative of the lender interacting with the consumer throughout the entire lending process. To the consumer, that agent is the face of the lender. Unfortunately, the general rule with national vendors is that institutions have to accept the “luck of the draw” in how a closing is managed and in who shows up to conduct the closing locally.

Sophisticated and knowledgeable about loan products, borrowers from every part of New York State expect the highest professionalism from the closing process. And, for this “time is money” market, if the closing experience does not meet their high expectations, their networks of influential business associates, friends, and family hear about it swiftly. You might say, “in a New York minute.”

In working with the top lending institutions in New York, we have found that educating our agents in the lender’s specific loan products is key in delivering the service New Yorkers expect. Partnering with clients in a common vision of service is how to achieve the highest customer satisfaction in the highly competitive New York market.

Partnering for Optimal Growth and Success
Ongoing monitoring, updated training, and high performance in the field are service metrics lenders should consider in evaluating the outsourced service provider. Open communication, feedback, and the expertise of a settlement service vendor in the local market result in both business process improvement, and service that sets the highest standards and generates the greatest rewards for the lender.

Just ask the consumer. The home field advantage ensures customized service — before, during, and after the closing, guaranteeing referrals and repeat business for your lending institution in New York.

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