Tag Archives: Mortgage Servicers

The housing crisis impacted the reputation of the mortgage servicing industry in the eyes of the public. But as the years went by, the industry had slowly rehabilitated its image. Despite the hard won gains, however, the J.D. Power 2017 ...

Out-of-sync technologies are holding businesses back, according to a recent report. Additionally, make it hard to serve the millennial homebuyer, who expects a more seamless, digitized solution when purchasing a home. This is largely because tech solutions in today’s post-crisis, highly-regulated industry are product-specific, which creates a “complex ecosystem made up of siloed disparate systems.”

While Homeowner Association liens for unpaid assessments typically have priority over second mortgages and other junior liens (because the HOA liens may “relate back to” the HOAs’ previously-recorded declarations), first mortgages receive special treatment in various states, such as Minnesota. Despite that special treatment, HOAs often demand payment of substantial bills by lenders foreclosing first mortgages.

Cast as “rule clarifications,” the CFPB's updated final mortgage servicer rules do contain a large number of new, additional requirements that are already being discussed and digested by the servicing industry. This select print feature originally appeared in the January 2017 issue of DS News.

Kevin Cooke, Jr., Director Enterprise Sales and Business Development for Altisource, examines current trends in mortgage servicing including vendor management, regulatory compliance, and more.

Contrary to some reports that customer experience investments are unnecessary and unprofitable, a recent study indicates that investing in the customer experience does pay off for mortgage servicers.

DS News spoke with Jane Mason about what her perspective is on servicing transfers and how to prevent and avoid technological breakdowns.

According to the OCC, the majority of mortgage modifications performed by the seven largest banks include multiple actions focused not just on affordability but on sustainability of the loan.

According to Fannie Mae, lenders can now rely upon existing policy when determining whether a loan is eligible for delivery under a refinance transaction or as a modified mortgage loan.

High performance of first-lien mortgages and declining foreclosure activity spelled a healthy servicing market for the first quarter of 2016, according to the OCC.