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August 11, 2012 9:28 pm

When borrowers call in for information or documents, Borrowers should be sent limited access permission to view only their account information and loan documents in the company document viewer portals, borrowers should be permitted to print out all docs found in their loan records. This automated process is relatively cost free for the institution and allows the borrowers to gain access to requested docs, and also information pertaining to servicing issues. Should the borrower have additional needs beyond this there should be a special link the borrower can intiate in the portal to request additonal information or personal contact from the institution. The institution can use this individual posting board to communicate with the borrower, log comments and actions regarding borrowers inquiry.… more »

…This posting board or communication log should be fully accessible by the borrower with complete transparentcy. « less
August 12, 2012 8:09 am


From a technical standpoint, direct access to a loan servicer’s web based client portal via a simple username/password is impractical. There are many technical settings, VPN’s, etc that are set up when vendors access these. What they can do, however, is build the code & databases to allow borrowers to access this information via their consumer websites. They also need a way for borrowers to be able to submit, review, and update insurance information on these websites.

Many servicers, such as Bank of America, already have customer service available via chat through their website as well. Chat could be an option for customers who are weary of speaking to a representative over the phone and would like a record of the conversation. Either way, you have the right… more »

…idea that these companies need to both upgrade & better utilize their technological capabilities. « less
August 12, 2012 11:37 am

Hi shannon, welcome to Regulation Room! CFPB is proposing an oral request system, do you think that will be useful for borrowers with questions about their mortgage? With respect to your website suggestion, are you suggesting that servicers use this online system instead of the oral request system CFPB has proposed or should this online option be available in addition to the phone system?

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