Survey: Student loan borrowers rank email, text most desirable methods to be contacted by servicers

SAN DIEGO, May 1, 2012 /PRNewswire/ -- A recent survey by First Associates Loan Servicing, one of the country's fastest growing consumer loan servicers, showed most student loan borrowers desire to be contacted via email and text by such firms.

The stated preference by two-thirds of individuals queried is in direct contrast to how most loan servicers attempt to reach customers.

"There's a big disconnect with many companies that operate in this market and borrowers, so it's no wonder that a lot of firms are struggling with high delinquency and default rates within the portfolios they service," said David Johnson, CEO of First Associates Loan Servicing. "Loan servicers must do a better job to recognize the numerous and changing consumer preferences and incorporate them into operations that drive enhanced performance for lenders and superior customer experiences for borrowers."

The survey received nearly 250 respondents and was conducted over two separate, one-week periods in February and April. In addition to the email and text preferences highlighted, more than 90 percent of respondents said it was either important or very important that loan lenders or service providers contact them the way they like the most. 

About First Associates Loan Servicing

First Associates is one of the nation's premier consumer loan servicing firms comprised of a team of professionals with world class experience, first-rate knowledge and exceptional technology. First Associates provides best-in-class servicing for titled assets and unsecured loan portfolios with a staff that is committed to providing the highest level of service to borrowers while maximizing lender and investor returns. More information is available at www.1stassociates.com.

© 2012 by First Associates Loan Servicing, LLC. All rights reserved. 

Contact: David Oates
Stalwart Communications
(858) 750-5560
[email protected]

SOURCE First Associates Loan Servicing