U.S. Foreclosure Activity Spikes in May

Foreclosure filings–default notices, scheduled auctions or bank repossessions–increased 7% in May from April and 14% from a year ago, reported ATTOM, Irvine, Calif.

MBA Comments on HUD COVID-Related Loss Mitigation Report

The HUD Office of the Inspector General issued two audit reports Thursday examining the loss mitigation options that loan servicers provided to borrowers with FHA-insured loans after their COVID-19 forbearance ended.

MBA Chart of the Week May 19, 2023: % of IMBs with Pre-Tax Net Income

Today’s Chart of the Week compares the percentage of companies in the QPR that reported positive pre-tax net income including all lines of business (e.g. production and servicing operations), versus the percentage of companies that reported positive pre-tax net income, once servicing operations are excluded.     

Elevating Your Quality Quotient, Part II: Mortgage Servicing Post-Pandemic

Regulations offer guardrails, but rebuilding trust is key to a vibrant mortgage servicing industry. The hurdles of the Great Financial Crisis have been largely overcome and the COVID-19 Pandemic National Emergency was formally decreed behind us on April 10. So, what does the marketplace for servicing look like today and what aspects of servicing could look different in the future?

#MBACMST23: How Servicers Stay Ahead of Challenges

CHICAGO–Commercial mortgage servicers must be able to adapt and pivot to face their daily challenges, servicing veterans noted at the MBA Commercial/Multifamily Finance Servicing and Technology Conference.

Bob Caruso of ServiceMac LLC: Servicing Strategies in a Heightened Compliance Environment

Over the past two decades, regulatory and investor guidelines have become much more nuanced. In addition, maintaining on-going compliance to the rules and audit guidelines has been challenging given servicers’ day-to-day responsibilities. Servicers have had to become more agile and look for ways to update processes and implement changes quickly to reduce the risk of non-compliance.