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Charting the Path Forward for Mortgage Servicing

During an annual meeting of the National Mortgage Servicing Association (NMSA) in Washington, D.C., Wes Iseley, Senior Managing Director at Carrington Mortgage Holdings, was announced as the organization’s new Chair. He inherits the role from Ray Barbone, EVP of Mortgage Services for BankUnited.

The NMSA is a nonpartisan organization driven by senior executive representation from the nation’s leading mortgage servicing organizations, formed for the purpose of effecting progress and change on the key challenges that face the mortgage servicing industry.

“It is an honor to serve as the incoming Chair of the NMSA,” Iseley told DS News. “The NMSA will continue to work together to improve the industry and our service to our consumers.” As the NMSA’s new Chair, Iseley added that he will strive toward “solutions to be adopted by our governing bodies to make us more efficient and valuable to the consumers we provide service to.”

Wes Iseley

Incoming NMSA Chair Wes Iseley

Prior to Carrington, Iseley was President of Saxon Mortgage, a Morgan Stanley Company. Iseley worked daily with the trading desk at Morgan Stanley and reported directly to the Global Head of Residential Real Estate.

"I congratulate Wes Iseley on being appointed Chair of NMSA and look forward to working with him to continue the association's critical work," said Ed Delgado, President and CEO of Five Star Global. "His proven success in leading organizations and reputation as an excellent communicator, make Wes the right leader to guide NMSA towards effecting progress and change on the key challenges facing the mortgage servicing industry."

Speaking of the legacy of outgoing Chair Ray Barbone, Iseley said, “Ray Barbone’s leadership is evident in where the NMSA is today and how many of the top servicers are active in the group. He was instrumental in bringing key players together during the disasters we all faced during his tenure.”

Roy Diaz, Chair of the Legal League 100, addresses the NMSA crowd.

The meeting also included an update from Roy Diaz, Chair of the Legal League 100. Diaz discussed current mortgage servicing challenges from a legal perspective and provided an update on the recent Supreme Court ruling in the case of Obduskey v. McCarthy & Holthus LLP. The Court found that businesses engaged in nonjudicial foreclosure proceedings are not considered "debt collectors" under the Fair Debt Collection Practices Act.

The NMSA meeting was part of a packed week in Washington, D.C., that included Tuesday's tenth annual Five Star Government Forum, where leaders from mortgage servicing and the federal government engaged in open dialogue about the industry’s most pressing issues. That even included keynotes from both  Dr. Benjamin S. Carson, Secretary, U.S. Department of Housing and Urban Development (HUD) and  The Hon. Brian D. Montgomery, Acting Deputy Secretary and Assistant Secretary for Housing-Federal Housing Commissioner, HUD. You can read our coverage of the event here.

Part of the mission of the NSMA is to create and publish resources for the benefit of the mortgage servicing industry. For example, at the 2018 National Mortgage Servicing Association Member meeting, former Carrington Mortgage Holdings EVP Rick Sharga presented a State of the Housing Market Report covering multiple economic factors relevant to servicers.

Additional resources provided by the NMSA include a white paper aimed at producing “common sense, practical, and affordable remedies” to reduce the costs of foreclosure practices and address community blight. You can read the full white paper, as well as other NMSA publications, by clicking here.

About Author: Seth Welborn

Seth Welborn is a contributing writer for DS News. He is a Harding University graduate with a degree in English and a minor in writing, and has studied abroad in Athens, Greece. An East Texas native, he also works part-time as a photographer.

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