December 18, 2013

What is Single Family Servicing? A Sit Down with Pamela Holmes

Today's post comes to us from VHDA's Heather Weidner, who interviewed Pamela Holmes for the blog.

Pamela Holmes is the Director of VHDA’s Single Family Servicing, and she gave us an overview of her department and the services that they provide.

How did you get involved with affordable housing? I began my career in collections and moved to the role of customer service representative. Later, I was promoted to Escrow Administration. When I joined VHDA, I worked in the taxes area, and then I was promoted to Customer Service Manager. I was recently promoted to my current position in March of 2013 after 15 years of service.

What is Single Family Servicing? This department includes Customer Service, Escrow Administration, Payoffs and Assumptions, Investor Relations, and Default Administration for our Single Family borrowers.

Can you tell us about your role at VHDA? Our job is to ensure that we mitigate all types of risks and that all business functions such as data quality, reporting and analytics are in alignment with the investor guidelines.

What do you want everyone to know about your department? We are here to provide excellent customer service. Ninety percent of our loans are performing loans, and our division is about more than Default Administration. Our group is responsible for staffing the Call Center, disbursing escrow items, and working with borrowers by performing early stage collections and determining retention options to help our homeowners remain in their homes.

Has the focus of your department changed as a result of the economic shifts over the past few years? We have developed creative initiatives to assist our borrowers with various workouts in Default Administration. In addition, we have increased our staffing capacity to handle the demand for our services. Like other businesses, we have been challenged to do more with less.

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