Servbank’s 2024 Year in Review
What a year it’s been! 2024 was a year of progress and transformation across the industry. From navigating inflation and shifting interest rates to adopting the newest technology, we’ve been right there with you, providing stability in an ever-changing market. As we step into 2025, it’s the perfect time to reflect on the incredible journey we’ve had over the past 12 months.
Welcoming New Faces to Our Executive Team
In 2024, we strategically expanded our senior leadership team to strengthen our expertise in key areas critical to our growth, including Donald Satiroff (CEO), Jeff Maddigan (CFO), Chad Neubecker (Chief Banking Officer), Jeffrey Green (Chief Credit Officer), John Wise (EVP Managing Director of Deposit Sales and Strategies), and Thomas Chavez (EVP Managing Director of Specialty Finance). Our latest C-suite team brings specialized knowledge in HOA, treasury management, 504 lending, and MSR finance, positioning us to achieve our goal of becoming a top 504 lender and leading HOA servicer.
Each of these dynamic leaders brings a wealth of knowledge and expertise to our team. More importantly, they exemplify Servbank’s mission of creating excellence for our clients and customers.
Growing Stronger Together
In addition to expanding our C-suite, we also established 10 new client partnerships in 2024, further solidifying our status as the nation’s premier bank subservicer. Our strong liquidity position, backed by Tier 1 capital, enabled us to lend confidently into the marketplace, driving growth and success for our partners.
Finally, we seamlessly onboarded 148,000 new loans through our frictionless loan boarding process, while continuing to foster genuine partnerships with our clients and delivering the best-in-class experience for their customers.
Celebrating Our Wins
Last year, Servbank was the recipient of several prestigious industry awards, including HousingWire’s Tech100 Mortgage award, for which we were recognized for the sixth time.
Also rewarded was Servbank’s commitment to supporting and empowering our team members, as we were named one of American Banker’s 2024 Best Banks to Work For, as well as one of America’s Best Workplaces by Best Companies Group.
Shayna Arrington, our Chief Risk Officer, deserves a special mention as she was named by American Banker as one of the Most Powerful Women in Banking and Finance. Please join us in congratulating Shayna on this incredible and well-deserved accomplishment!
A Year of Noteworthy Achievements
We wrapped up 2024 with a client Net Promoter Score (NPS) of 73.3, which is considered a level of excellence rarely attained in any industry. Other notable achievements include:
Customer Service KPIs
- NPS 85.3
- Customer satisfaction rate 98.9%
- One call resolution rate 92.4%
Self Service KPIs:
- 74.8% Paperless Enrollment
- 34.0% AutoPay Enrollment
- 37.4% Mobile App Enrollment
- 31.1% Notifications Enrollment
We could not have achieved these amazing results without the hard work and dedication of our incredible team.
Technological Advancements
2024 also marked a few milestones for our award-winning SIME (Servicing Intelligence Made Easy) servicing portal. Some of the exciting updates we made over the past year include the rollout of a new DocBox exporting tool, enabling bulk exports for improved document management and data accuracy.
We also implemented a variety of enhancements on the client communication side of things, including:
- Enhanced Outbound Calling Campaigns: Updated to meet FDCPA requirements
- Expanded “Call Center” Tab: Displays additional data, including:
- Agent name
- Last call date
- Reason for delinquency
- Date of delinquency reason
Our customer website and mobile app have been updated to include support for multiple profiles and a single sign-on (SSO) integration. And finally, we implemented a Refined Loss Mitigation Waterfall feature, which allows for near real time adjustments and rapid deployment to align with client needs and regulatory guideline changes.
Looking Ahead…
As we officially close out 2024 and prepare to hit the ground running in 2025, we’re excited to connect with many of you at several industry conferences, including:
- MBA’s Independent Mortgage Bankers Conference in Austin, TX
- MBA’s Servicing Solutions in Dallas, TX
- MCT Exchange in San Diego, CA
- Secondary and Capital Markets Conference in New York, NY
- CMBA’s Western Secondary Market Conference in Palos Verdes, CA
- ACUMA’s Annual Conference in Denver, CO
- MBA’s Annual Convention in Las Vegas, NV
We hope to see you at one (or more!) of these events. Let’s continue to explore new possibilities and build an even brighter future together.
We take pride in the milestones we’ve achieved and the relationships we’ve strengthened throughout the year. Thanks to the unwavering support of our clients, customers, and team, 2024 has been a testament to growth and innovation. In 2025, we are energized by the opportunities ahead and committed to creating excellence together. Let’s make 2025 our best year yet!
