Issue link: http://dsnews.uberflip.com/i/1345366
42 The Exchange As SVP of Servicing Product Strategy at ServiceLink, Yvette Gilmore is responsible for developing products and services that support strategic servicer client initiatives. She also supports ServiceLink's EXOS One Marketplace, the only AI-powered asset decisioning tool of its kind that uses predictive modeling to determine the optimal disposition strategy for properties in default. Gilmore has more than 20 years' experience leading servicer relationship and performance management efforts for leading Fortune 500 financial service organizations. Prior to joining ServiceLink, Gilmore spent more than a decade at Freddie Mac, where she held several leadership positions and most recently served as VP of Servicer Relationship and Performance Management. Prior to joining Freddie Mac, she led the loss mitigation departments at IndyMac and Washington Mutual. Speaking to DS News, Gilmore discussed the current state of servicing, COVID-19's impact, and how artificial intelligence and machine learning can be the "next best thing" to having a crystal ball for servicers. How has COVID-19 impacted the servicing industry and its operations? While servicers key concerns have remained largely unchanged—like mitigating risk, streamlining operations, minimizing losses, reducing costs, and elevating the borrower experience—today's extraordinarily active marketplace is truly putting them to the test in myriad ways. ose whose portfolios are growing in number and/or variety of properties face the added challenge of managing this new influx without slowdowns or errors. From a risk management standpoint, servicers want a rules-based approach to every aspect of their operation. ey are seeking to not only facilitate their decision-making processes and comply with evolving regulations, but to also ensure a level of consistency and certainty for the customer. Customers rely on servicers for fast, transparent, well-informed decisions and for consistent answers and results; regardless of the company representative they may speak with. As COVID-19 continues to impact the servicing industry, many are choosing to lean-in to technology to streamline their approach. What is preventing some servicers from embracing technology to the extent they could? We actually don't find that servicers are reluctant to use technology. Typically, the issue is finding technology that is easy, cost- effective, and attentive to the portfolios' unique characteristics. Servicing is a complex business that can be heavily nuanced. To put it bluntly, a "one size fits all" tool that is so expensive and difficult to integrate that it defeats the purpose of the technology's utilization in the first place makes adoption even more of a hurdle. Service providers that offer customizable solutions to Yvette Gilmore SVP of Servicing Product Strategy, ServiceLink Get to Know Industry Executives Beyond the Boardroom "While servicers key concerns have remained largely unchanged—like mitigating risk, streamlining operations, minimizing losses, reducing costs and elevating the borrower experience—today's extraordinarily active marketplace is truly putting them to the test in myriad ways."