In one case, a KRC client who applied for a government-sponsored loan modification program misunderstood acall he received from his lender due to limited English skills.
Mr Ayres predicts that automated decision-making will soon see other professional jobs going the same way as that of the bank-loan officer, once well-paid and responsible and now a mere call-centre operative, paid peanuts to parrot the words a computer prompts.
During a recent call between states officials and the banks, some lenders said they opposed any settlement term that would reduce loan balances, according to one of the people familiar with the talks.