A guide to EMC Mortgage Corporation

EMC Mortgage Corporation, based in Lewisville, Texas, is a mortgage banking company that specialises in residential mortgage loans. It is a trademark of JP Morgan Chase & Co. The JP Morgan Chase Bank , N.A., actually services loans under the EMC Mortgage title. Its mission is to provide competitive pricing to borrowers and efficient portfolio management to investors.

Introduction to EMC Mortgage Corporation

EMC Mortgage, like every other mortgage company, claims to be staffed with the most talented people in the industry. They are also staffed with people experienced in doling out superior customer service, giving loans, collecting them and managing foreclosures. EMC Mortgage claims to be different from other mortgage companies by thinking creatively and maximising gains for all those involved by conducting each function as if it were being conducted for their own asset. This translates to no risk taking, low rates and customised service. The company says that it achieves this by continuously inspecting methodologies, industry practices and reconciling these with what the buyers and stakeholders desire. It also operates a vigorous employee training program and all staff is extensively oriented on the latest technology and industry best practices. It allows its employees to climb up the corporate ladder as well. All these moves have ensured retention of talent, over 480,000 customers and a top rating by all rating agencies. The company absolutely abides by the following laws in letter and spirit: Fair Debt Collection Practices Act
Fair Housing Act of 1968
Truth in Lending Act
Real Estate Settlement Procedures Act
Fair Credit Reporting Act
Equal Credit Opportunity Act

EMC Mortgage’s key “Best Servicing Practices”

Start All the latest loan terms are uploaded on systems. Customers receive a welcome package that contains relevant information and coupons. This is followed up by a welcome call that answers all queries. Customer service Customers can access “Customer Care Net”, an online tool that displays updated loan information. EMC also follows a “One Call Resolution” policy that promises to resolve all customer issues in one call. It rewards employees who receive high customer ratings. Customers are provided with a Customer Advocate, who hears unresolved complaints and forwards them to the senior management. Billing Payments are posted on the day they are received and statements are sent to customers every month. Insurance The company ensures that hazard and flood insurance coverage is maintained at all times. Home retention and collections EMC helps customers to keep their homes by helping them to avoid foreclosures. EMC’s “Performing Loan Workouts” program helps people with adjustable rate mortgages. All delinquent loans are evaluated by EMC Mortgage's servicing specialists and everything possible is done to help the customer keep his home. Collections are handled with care and maturity.