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: 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.

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.

FHA Establishes New, Streamlined COVID-19 Recovery Loss Mitigation Options

The Federal Housing Administration on Friday published Mortgagee Letter 2021-18, COVID-19 Recovery Loss Mitigation Options. The ML outlines assistance for homeowners who have been financially impacted by the COVID-19 pandemic to remain in their homes with new, streamlined loss mitigation options.