As many businesses begin the slow process of returning to work and bringing employees back from remote working, there are many areas to think about and prepare for, to ensure that businesses are protected, and employees feel safe. Supporting Staff Health and Well-being The health and safety of the...
Read more
With the rise in forbearance volumes servicers, must rethink their mortgage default servicing operations and technology. Improving the mortgage loan servicing process will help servicers limit losses and keep more borrowers in their homes. Servicers must improve mortgage servicing operations to improve borrower loyalty and stand out from the...
Read more
With the COVID-19 pandemic severely hurting the economy and unemployment levels skyrocketing, many homeowners are struggling to keep up with their mortgage payments. To help alleviate the impact of COVID-19, the federal government passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act to grant relief options for federally...
Read more
Ginnie Mae announced a major step in modernizing its platform, allowing so-called “digital collateral” or electronic promissory notes and other loan files as collateral in its securities. Six weeks after a Ginnie Mae executive said the agency was “just around the corner” from beginning to accept eNotes in its...
Read more
The housing market is currently witnessing a major surge, thanks to record-low mortgage rates. According to the Mortgage Bankers Association’s seasonally adjusted index, mortgage applications to purchase a home was a remarkable 21% higher than one year ago. At a time like this, it is likely that underwriters may...
Read more
I think the last 2-3 months has seen a big change in the mortgage industry with low-interest rates and the pandemic. Who would have imagined that we will see such high forbearance volumes? Of course, because of the pandemic, people should not be losing their homes. The good news...
Read more
The mortgage industry has been deeply impacted by the Covid-19 pandemic. Black Knight reported that nearly 4.1 million homeowners are in forbearance programs, representing 7.7% of all active mortgages. With the increase in the number of forbearance requests, servicers will need to have a process in place so that...
Read more
Lenders and Servicers need to stay abreast of market changes, understand them well, and adapt their business practices to suit the new normal. While this has always been true, it is even more so, amid the current COVID-19 pandemic situation. Handling complexities? For several lenders, the uncertainty of the...
Read more
The Mortgage Bankers Association’s (MBA) in a recent release revealed that the total number of loans now in forbearance increased to 7.91% of servicers’ portfolio volume. According to MBA’s estimate, almost 4 million homeowners are now in forbearance plans. With unemployment rising from historical lows in early 2020 to...
Read more
Covid-19 has officially been designated a pandemic by the World Health Organization (WHO). Originating from Wuhan, the coronavirus has affected every person and place like a global tsunami. It’s proven to be not just a health crisis, but also a social, economic, and political crisis. Today we have a...
Read more
