The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 8 basis points to 8.39% of servicers’ portfolio volume as of June 28, compared to 8.47% the prior week. MBA estimates nearly 4.2 million homeowners are in forbearance plans.
Category: News and Trends
Former MBA Treasurer Daniel Mulvihill Passes Away
Daniel F. Mulvihill, Chairman Emeritus of Pacific Southwest Mortgage, San Diego, and former Treasurer of the Mortgage Bankers Association whose pioneering work with MBA helped make the annual CREF Convention & Expo one of the industry’s major commercial real estate conferences, died on July 1. He was 93.
MISMO Certifies First Two Remote Online Notary Products
MISMO®, the mortgage industry standards organization, today announced eNotaryLog and Notarize are the first two companies to complete MISMO’s new Remote Online Notarization certification program. RON certification provides assurance that products fulfill the requirements of the MISMO Remote Online Notary Standards.
Aneeza Haleem: Can You Trust AI and Your BOT Workforce to Make the Best Decisions for Your Customers?
We have successfully tackled using AI in newer areas, such as tiered contextual responses, voice recognition, biometrics and natural language processing. The fuzziness increases in emerging areas of AI use, including one where it’s especially common in mortgage banking – customer engagement using sentiment analysis and advanced contextual cues.
MBA, Trade Groups Submit Recommendations to FCC on Robocall Draft Order
The Mortgage Bankers Association and nearly a dozen industry trade groups sent a letter this month to the Federal Communications Commission offering recommendations to improve an FCC draft order addressing robocalls and “spoofing.”
Anita Bush: Offering Forbearance Under the CARES Act – A New Reality for Mortgage Servicers
According to the latest Mortgage Banker Association Forbearance and Call Volume Survey, the total loans in forbearance stands at 8.47%. While the number of new forbearance requests is declining, many servicers may still be working with forbearance borrowers for the rest of this year and into 2021. Here’s what servicers can do to handle this new reality.
MBA Education Path to Diversity Scholar Profile: Candace Hargrave
(One of a continuing series of profiles of participants in the MBA Education Path to Diversity (P2D) Scholarship Program, which enables employees from diverse backgrounds to advance their professional growth and career development.)
People in the News July 8, 2020
LenderClose, Des Moines, Iowa, appointed Martina Schubert as chief technology officer, responsible for aligning technological vision with the company’s needs to positively impact current and future operations.
Michael Steer & Erin Harris: Accelerated Digital Mortgage Tech Strategies Must Also Include Sound Vendor Management
Adherence to vendor management best practices needs to remain top of mind for lenders even when accelerating their digital mortgage tech selection and deployment process. Compliance with regulatory requirements and proper risk mitigation are not steps to be overlooked.
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“It is critical that the Commission’s rules governing call-blocking practices protect consumers from the risk that they might not receive important, often time-sensitive, calls from health care providers, finance companies, banks, credit unions, other participants in the financial services marketplace, retailers and other legitimate businesses.”
–From an MBA/trade group letter to the FCC asking that final rules on robocalls and “spoofing” include safeguards for financial services providers conducting legitimate business.