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Exact(23)
Several banks have sold their mortgage servicing operations, after disclosing investigations in regulatory filings.
A likely outcome is that the four biggest banks would spin off their mortgage servicing operations.
Last year, he acquired H&R Block's subprime mortgage servicing operations for $1.3 billion.
To make matters worse, the banks had few financial incentives to invest in their servicing operations, several former executives said.
Bank of America has agreed to sell its subprime real estate servicing operations to the Fairbanks Capital Corporation.
Mortgage servicing operations, which do all the paperwork, are overloaded and in some cases seem to lack even a basic level of competence.
Similar(34)
But Apple's customer service operations operate in a much more ad hoc fashion.
Problem loans in Countrywide's huge mortgage servicing operation grew significantly last month.
Companies use the programs to manage sales and service operations.
Mr. Creighton also demanded improvement in service operations.
Meanwhile, Annodata has outsourced Connaught's printer services operations.
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