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The Trends and Challenges Facing Mortgage Servicing

Jacquelyn Pardue, Director of Purchasing and Vendor Management, Gateway First Bank, spoke with DS News about trends in servicing, technology, and what the industry can do to help prepare for natural disasters. 

Pardue, speaking on the challenges facing servicers, noted the struggle balancing the uptick in originations while also seeing declining defaults. 

“So, in turn, how are you going to balance those items in regard to servicing, and then what aspects are you going to implement in servicing to make that more efficient,” she said. 

Pardue said the best way lenders can offer support during natural disasters is to reach out to vendors is to make sure their vendor network is appropriate. She added it is important to contact borrowers prior to disaster letting them know what to do if they are impacted. 

“As we know, the hurricanes always change paths but if we know somebody is within the path, how do we let them know we’re here to help and what in turn can they reach out to us for regarding those items,” she said.