AI holds the potential to unleash productivity throughout the mortgage lifecycle by bringing the origination and servicing sides of the business together.
Tag: Mortgage Servicing
Redfin Reports Migration Into Flood-Prone Areas Has More Than Doubled Since 2020
The most flood-prone U.S. counties saw 384,000 more people move in than out in 2021 and 2022—a 103% increase from the prior two years, reported Redfin, Seattle.
MBA: Share of Mortgage Loans in Forbearance Drops to 0.49% in May
The total number of loans now in forbearance decreased to 0.49% for May from 0.51% of servicers’ portfolio volume in April, the Mortgage Bankers Association’s monthly Loan Monitoring Survey reported.
FHFA: More Than 6.7M Troubled Homeowners Helped During Conservatorships
Fannie Mae and Freddie Mac completed 58,268 foreclosure prevention actions in the first quarter, the Federal Housing Finance Agency reported Friday.
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.