ORLANDO—Despite another potentially economy-altering event this week—this time, the Russian invasion of Ukraine—Mortgage Bankers Association economists said the current picture for mortgage originators and servicers remains upbeat.
Tag: Mortgage Servicing
MISMO Winter Summit: Servicers Step Up
CLEARWATER, FLA.–As the mortgage market moves from refinances to purchases and loans move out of forbearance into modifications and workouts, servicers are stepping up, MISMO Winter Summit participants said.
CFPB, DOJ Issue Joint Letters on Servicemember/Veterans’ Rights
The Consumer Financial Protection Bureau and the Department of Justice on Monday issued two joint letters Monday on legal housing protections for military families.
Arjun Raman of Wipro Opus Risk Solutions: Strapped for Time–Empower Overworked Staff with Outsourcing
The economic effects of the pandemic have placed strains on the day-to-day operations of servicers. An established relationship with a strategic outsourcing partner can streamline efficiency and productivity, resulting in improved scalability, increased cost savings and expertise at the ready.
Tim Anderson of Evolve Mortgage Services: Second Time’s a Charm for eModifications
Tim Anderson is President of the eMortgage Division for Evolve Mortgage Services, where he is responsible for overseeing deployment of the company’s digital closing platform and developing strategic partner relationships.
Jeff Williams of FICS: Support Strategic Planning with Audit of Mortgage Software, API Capabilities
Leaders need to include software audits in their strategic planning process. A good software audit sets the stage for effective budgeting and decision making this fall. Leaders should analyze the company’s current Application Programming Interface integrations to existing mortgage software.
CFPB: Mortgage Servicers’ Pandemic Response Varies Significantly
The Consumer Financial Protection Bureau on Tuesday published a report detailing 16 large mortgage servicers’ COVID-19 pandemic response. The report showed a disparate response in call metrics, exit metrics and other measures.
Share of Mortgage Loans in Forbearance Slightly Decreases
Loans in forbearance fell for the twenty-second consecutive week, the Mortgage Bankers Association said on Monday.
J.D. Power: Mortgage Servicers Get High Marks; Nonbanks Gain Traction
J.D. Power, Troy, Mich., said mortgage servicers earned high levels of customer satisfaction during the pandemic, but warned as loan forbearance programs come to an end and more normalized customer interactions resume, traditional banks are starting to lose their edge over non-bank lenders.
MBA Supports CSBS Prudential Standards for Nonbank Mortgage Servicers
On Tuesday the Conference of State Bank Supervisors released model state regulatory prudential standards for nonbank mortgage servicers. MBA President and CEO Bob Broeksmit, CMB, immediately expressed support for the standards.