HP Extends Customer Service Agreement with Loan Value Group LLC for Five Years
PALO ALTO, Calif. -- HP Enterprise Services today announced that it has signed a five-year extension of its agreement with Loan Value Group LLC (LVG) to provide full-scale contact center and customer support functions.
This agreement provides LVG with increased flexibility as it ramps up operations of its Responsible Homeowner Reward (RH Reward) program, which provides incentives to eligible homeowners burdened with negative equity to remain current on their mortgage payments.
By taking advantage of HP’s scale and experience, LVG will be better able to quickly respond to market demand and support the launch of new portfolios of loans.
“RH Reward is the only program available in the marketplace today that has the scope and structure to fundamentally change the way the U.S. mortgage industry addresses strategic default,” said Frank Pallotta, executive vice president and managing partner, Loan Value Group LLC. “With HP, we have a partner with the scale, experience and infrastructure needed to ramp up a program of this magnitude and support rapid growth as we continue to execute our business strategy.”
RH Reward is an industry-changing program for owners of mortgage risk, including mortgage providers, servicers, insurers and investors. As the only incentive-based program in the mortgage industry, RH Reward has the ability to address potential strategic default in the more than 10 million homes in the United States with substantial negative equity. This exposure represents nearly $2 trillion of mortgage debt, the vast majority of which is held by the U.S. government, banks and investors around the world.
“Being able to quickly scale to changing market conditions while improving customer service is critical in the mortgage business,” said Mark Boelens, general manager, Financial Services Outsourcing, HP Enterprise Services. “HP is uniquely positioned to provide the distinctive capabilities and services that industry innovators like LVG demand, with a robust contact center portfolio that enables them to seize market opportunities without straining internal resources.”
HP has more than 30 years of experience providing an array of contact center services to more than 500 clients around the world. More than 30,000 agents from 112 global contact centers in 34 countries collectively support 51 languages with native-speaking agents. HP’s extensive contact center experience can help increase wallet share, market share and loyalty by optimizing customer relations.
HP services help businesses and governments in their pursuit of an Instant-On Enterprise. In a world of continuous connectivity, the Instant-On Enterprise embeds technology in everything it does to serve customers, employees, partners and citizens with whatever they need, instantly.
About Loan Value Group LLC
Founded in 2008, Loan Value Group LLC is a mortgage solutions provider of a large-scale, low-cost, turn-key platform that positively influences consumer behavior on behalf of residential mortgage owners and servicers. Based in Rumson, N.J., LVG provides owners of risk with a solution that directly addresses strategic default through the use of incentives. LVG is the exclusive provider of the Responsible Homeowner Reward® (RH Reward®) program, named one of the “50 Best Inventions of 2010” by Time Magazine. Institutions can learn more by contacting Frank Pallotta or visiting http://www.loanvaluegroup.com/. Consumers can learn more by visiting http://www.rhreward.com/.
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