NRMLA, through its Servicing Committee, Executive Committee and Board of Directors, continually strives to improve the customer experience for reverse mortgage borrowers, especially when it comes to servicing and the “end of loan” repayment process. Among the subject matter experts involved in these policy and consumer outreach discussions is Leslie Flynne, director of reverse mortgage servicing at PHH Mortgage Services. Since entering the reverse mortgage space a decade ago, Flynne has tirelessly advocated for clear, consistent and manageable servicing policies that benefit mortgagees and consumers alike. She is also a frequent speaker at NRMLA events to help ensure reverse mortgage professionals gain a better understanding of servicing guidelines and timelines and, therefore, can help clients and family members better manage expectations. In 2011, Flynne joined Reverse Mortgage Solutions, Houston, TX, where she initially managed the Real Estate Owned (REO) division and was soon promoted to senior vice president of servicing operations. This past fall, RMS was acquired by PHH Mortgage Services, a division of Ocwen Financial. Before joining RMS, Flynne spent 20 years with Washington Mutual and its predecessor, Bank United, in a variety of financial and operational director positions, which included servicing operations for the commercial real estate lending portfolio for the commercial banking operations. Reverse Mortgage sat down with Flynne to talk about the recent PHH acquisition, ongoing efforts to protect borrowers impacted by COVID, and the increasing need for servicers to become more tech savvy. Reverse Mortgage: You recently joined PHH Mortgage after it acquired Reverse Mortgage Solutions’ reverse mortgage servicing portfolio. What’s involved onboarding that many RMS loans into a new system? What does that process look like for borrowers who were accustomed to dealing with RMS? Leslie Flynne: The PHH transaction was an acquisition of substantially all of the RMS staff, operating processes and the servicing systems. The acquisition closed on October 1, 2021, and all of RMS’ clients and their loan portfolios were assigned to PHH. As a result, the borrowers were not transferred to a new servicing system but rather PHH became their servicer. While the borrower’s received a welcome letter from PHH they did not experience any of the changes that occur when a loan transfer transpires and there is a servicing system conversion. The transaction, I think, has been Leslie Flynne, Director, PHH Mortgage Services By Darryl Hicks From the Top Leslie Flynne 12 REVERSE MORTGAGE / MARCH-APR I L 2022
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