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Lou Sigillo joins Cenlar as senior vice president of contact centers

EWING, N.J.–(BUSINESS WIRE)–Cenlar FSB, the nation’s leading mortgage loan subservicer, announced today that Lou Sigillo has joined the company as Senior Vice President of Contact Centers.

“Lou is an award-winning and driven leader with more than 25 years of experience in every facet of call-center operations,” said Kimberly Gibson, Executive Vice President, Borrower Operations and Executive Committee Member for Cenlar. “Over this time he has demonstrated passion and commitment to the customer experience. He is a strong advocate for the customer and, at the same time, is adept at driving efficiencies across the business.”

Prior to Cenlar, Lou was a Senior Vice President of Client Engagement for Alorica, one of the largest global outsourcing companies in the world. Before that, Lou was Vice President of Customer Service Operations for Verizon’s wireless operations. At Verizon, he directed the customer service strategy, service delivery and service excellence across internal centers, home-based agents, and strategic partner call centers. Among his accomplishments was the transformation of customer service from multiple field organizations into a centralized national organization.

Lou will be responsible for overseeing Cenlar’s contact center operations, with an initial goal of standardizing, streamlining, and upgrading workforce and technological processes. These efforts will be oriented toward building a seamless customer journey and frictionless omnichannel experience.

About Cenlar FSB

Cenlar FSB is a federally chartered, employee-owned wholesale bank, servicing more than 2.7 million mortgage loans in 50 states. As the nation’s leading subservicer, Cenlar boasts a loyal and growing client base of more than 150 institutions including banks, credit unions, and mortgage bankers. Our 3,000 employees, strategically located throughout the United States, are dedicated to teamwork and customer satisfaction, thereby providing client solutions that are unparalleled in quality, flexibility and innovation. Headquartered in Ewing, NJ, Cenlar is industry rated and audited regularly by independent third parties.

For more information, visit www.cenlar.com. Find us on LinkedIn here: https://www.linkedin.com/company/cenlar-fsb/

Contacts

Adrienne R. Kowalski

Corporate Communications Director

arkowalski@cenlar.com

Local homebuyers more savvy as housing market recovers

Prof. Michelle Dryden is an experienced newspaper journalist who has a master’s degree in New Media Journalism from Full Sail University, and a bachelor’s degree in traditional journalism from Rider University.

EWING, N.J. – On the brink of Tuesday’s decision where the Federal Reserve would consider mortgage forgiveness to homeowners, there have been changes in local consumer spending and a rise in home prices.

Weidel Realtors of Ewing, believe that they will see a healing in the industry.

“Buyers are very savvy today,” said Robin Stewart, broker and director of sales. “Banks are more apt to giving mortgages,” she said.

However, Stewart cautioned that in about six months to a year from now, there might be more foreclosures. She said, “We think there will be an influx of foreclosures. We’ve only seen the brunt of it.”

The Federal Reserve is still waiting on more information to see if they should take further action to boost the economy, said Financial Times writers, Shannon Bond in New York, and Robin Harding in Washington. Even though mortgages are only a small portion of the economy, economists still consider home sales during economic slow downs.

Since home sales usually soar during the spring and summer months of March through June, this is just a seasonal outlook.

“We did see a big surge where sales doubled earlier this year as opposed to the same time last year,” said Stewart.

According to Jim O’Sullivan, chief U.S. economist at High Frequency Economics, the research group, “the monthly improvement may be due to homes in foreclosure and short sales accounting for a smaller proportion of total home sales.”

Stewart agreed. She explained that some banks required that homeowners pay back their short sales. She said that some banks, however, were claiming these as losses and offering 1099 forms to homeowners who will then pay taxes on these short sales.

Their article concludes that retail sales fell in June for a third month. According to the writers, this suggests that the “sentiment has been darkening.”

O’Sullivan advises that, “‘the confidence data continue to show weakness…”’

Stewart said, “People are not really trying to spend their money on retail because they don’t know what’s going to happen in this economy.”

Therefore, the economy is showing signs of weakness, but with the rise in housing prices there is the notion of confidence and recovery. Since the housing market numbers seem to be seasonal, economists are not convinced as yet.