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Times Union Business: Lew Sichelman: Servicing Your Loan Can be Tough

… According to Mike Seminari of the STRATMOR Group, an industry advisory firm, of the 52% of all borrowers who had contacted their servicers, only 6% said they were likely to recommend the company. That’s not exactly a strong vote of confidence. Of course, it could be that these unhappy customers simply didn’t receive the help they were looking for. Or maybe their discontent is related to a billing mistake — 6% of all loans held by lenders have billing errors, according to Seminari — or another error, perceived or legitimate.

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