UBS executives confirmed the sale of Credit Suisse's U.S. servicing business will reduce costs and lower risk, marking a strategic move to enhance its balance sheet.
The recent transaction involves Select Portfolio Servicing, the 20th-largest U.S. mortgage servicer, with significant assets including $166.7 billion in unpaid principal balances.
SPS's integration of digital technologies, including new call center features and a chatbot, aims to improve customer experience amidst the evolving tech landscape.
Following its acquisition by Credit Suisse in 2005, SPS continues to adapt, having previously expanded with the purchase of assets from Rushmore Loan Management Services.
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