DEFINITIONS FOR PERFORMANCE STANDARDS Sample Clauses
The "Definitions for Performance Standards" clause establishes clear meanings for key terms and criteria used to measure the quality or level of service expected under the agreement. It typically lists and explains specific benchmarks, metrics, or conditions that must be met, such as response times, quality thresholds, or compliance requirements. By providing precise definitions, this clause ensures that both parties have a shared understanding of what constitutes acceptable performance, thereby reducing ambiguity and minimizing disputes over whether contractual obligations have been fulfilled.
DEFINITIONS FOR PERFORMANCE STANDARDS. Abandonment Rate: Means the percentage of total incoming calls to the customer service area which are not directed to the automated telephony response system in which the customer terminates the call prior to connection with a customer service representative.
DEFINITIONS FOR PERFORMANCE STANDARDS. ABANDONMENT RATE The percentage of total incoming calls to the customer service area which are not directed to the automated telephony response system in which the customer terminates the call prior to connection with a customer service representative. ATTEMPT shall include, at a minimum, an actual dialing of an outbound call to the borrower's telephone number. AVERAGE CALL PICK-UP TIME The average number of seconds that a customer, other than those that select the automated telephony response system, are on hold prior to speaking to a customer service representative. COLLECTION CALLS - FIRST 15 DAYS OF DELINQUENCY These calls are made for all mortgage loans that are past due and have broken a Promise to Pay between the first and 15th day of delinquency, except for loans that are screened out from such calls for reasons including, but not limited to: bankruptcies, interim payments in the first 30 days after transfer, loans for which borrowers have requested in writing that Wilshire not contact them and early indicator scoring exclusions. On initial contact for a second lien account, Wilshire shall obtain senior lien information for the mortgagor. The expectation is that Wilshire will make an Attempt every other business day. COLLECTION CALLS - AFTER THE 15TH DAY OF DELINQUENCY BUT NOT YET IN FORECLOSURE These calls are made for all Mortgage Loans that are delinquent and have broken a Promise to Pay after the 15th day of delinquency, except for loans that are screened out from such calls for reasons including, but not limited to: bankruptcies, loans in foreclosure, loans for which borrowers have requested in writing that Wilshire not contact them and early indicator scoring exclusions. As applicable, the expectation is that Wilshire will make two Attempts each business day. FORECLOSURE TIMELINES For Mortgage Loans in foreclosure, Wilshire will, subject to clause (ii) below, meet or improve upon the foreclosure timelines. Wilshire will use the most recently published ▇▇▇▇▇▇▇ Mac foreclosure timelines as may be amended from time to time. Wilshire will not be penalized with a reduction in fees for unavoidable delays such as bankruptcy, missing documents, workouts authorized by the residual holder, contested actions, service of process delays, sheriff sale scheduling delays, court delays in entering judgment or scheduling hearings, and other circumstances agreed to by the residual holder, provided that Wilshire (i) has documented its system accordingly and (ii)...