10 Jul, 2020

Foreclosure Prevention Actions Helping Troubled Homeowners

Foreclosure Prevention Actions Helping Troubled Homeowners

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
09 Jun, 2020

Mailbox Can Streamline Default Operations for Servicers

Mailbox Can Streamline Default Operations for Servicers

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
26 May, 2020

Lending and Servicing in a New World – Navigating the Changing Landscape

Lending and Servicing in a New World: Navigating the Changing Landscape

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
18 May, 2020

Mortgage Loans in Forbearance Rising Rapidly – What Can Servicers Do to Manage the Deluge?

Mortgage Loans in Forbearance Rising Rapidly - What can Servicers do to Manage the Deluge?

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
05 May, 2020

Appreciating Our Covid-19 Hero – Viju Davis

Appreciating our Covid-19 Hero - Viju Davis

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
28 Apr, 2020

No Lump Sum Required at the End of Forbearance, as per FHFA

No Lump Sum required at the End of Forbearance

In a recent article, the Federal Housing Finance Agency (FHFA) has confirmed that borrowers in forbearance with a Fannie Mae or Freddie Mac (the Enterprises)-backed mortgage are not required to repay the missed payments in one lump sum. This indeed is valuable news for homeowners, and they should no...

Read more
24 Apr, 2020

Enterprises to Purchase Qualified Loans in Forbearance to Keep the Lending Flowing

FHFA Purchasing Loans in Forbearance that Were Previously Ineligible

Earlier this week, Federal Housing Finance Agency (FHFA) in a release, announced that enterprises will purchase qualified loans in forbearance to keep the lending flowing. This move comes in to support homeowners and mortgage lenders. FHFA has said that they are approving the purchase of certain single-family mortgages in...

Read more
17 Apr, 2020

Ways for Servicers to Manage COVID-induced Delinquencies

Ways for Servicers to Manage COVID-induced Delinquencies

The ongoing coronavirus pandemic is posing a significant challenge. Experts are not in a position to quantify or project the delinquency numbers, as per a recent report in Black Knight’s Mortgage Monitor. “Trying to gauge the impact of COVID-19 on mortgage performance is as much an art right now...

Read more
15 Apr, 2020

Extending Loan Servicing Support to Servicers in View of the COVID-19 Situation

Extending Loan Servicing Support to Servicers in View of COVID-19 Situation

Servicing loans is much more than retaining a portfolio and collecting payments; it’s about meeting the evolving needs of your customers and delivering an improved borrower experience. The current Covid-19 pandemic is causing significant social, economic and personal disruption. Most companies have 90-100% of staff operating remotely. The availability...

Read more
08 Apr, 2020

Committed to Our Clients, Employees and Community – A Note from Our President, Sam Verma

Committed to Our Clients, Employees and Community

The last few weeks have been very distressing, with all the news related to the Covid-19 pandemic. I hope you are staying safe and positive amid all the uncertainty. We have never experienced anything close to what we are seeing with the Covid-19 pandemic. Without any doubt, it is...

Read more