A New Era of Mortgage Servicing: Out of Crisis, Solutions

A NEW ERA OF MORTGAGE SERVICING Out of Crisis, Solutions Except for the S&L crisis of the 1980s, the mortgage servicing industry has never been under the spotlight it is now. The current HAMP and HAFA initiatives are by themselves bringing an unparalleled... More

A NEW ERA OF MORTGAGE SERVICING Out of Crisis, Solutions Except for the S&L crisis of the 1980s, the mortgage servicing industry has never been under the spotlight it is now. The current HAMP and HAFA initiatives are by themselves bringing an unparalleled degree of scrutiny to this corner of the business, but the fact is, the industry’s been getting a good overhaul for the last year and a half for its role in the foreclosure crisis. And, rightly or wrongly, many of these changes are due. To its collective defense, much of the industry’s loan servicing technology was built to handle a far more stable and far less demanding world. The sudden reality of millions of delinquent transactions, each in need of individual, personalized attention, was, and is, staggering to say the least. As a result, the industry finds itself in sudden need of answers for the millions of questions flowing in daily from borrowers. Strategies resulting in homeowners staying in their homes are the key, and s Less