03 Sep, 2020

Tackling Challenges in Mortgage Loan Servicing – Ways to Do It

Mortgage loan servicing business is experiencing significant challenges due to the COVID-19 crisis. With a rise in defaults, driven by surging unemployment, servicers are having to deal with an exponential increase in customer forbearance requests, and an impending surge in delinquencies and losses. As a result, mortgage servicers need...

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31 Aug, 2020

Implementation of Adverse Market Refinance Fee Delayed – The Impact on the Refi Market

Implementation of Adverse Market Refinance Fee Delayed – The Impact on the Refi Market

Doug Duncan, the chief economist at Fannie Mae, says be ready to refinance because mortgage rates are going even lower. And top of that the implementation date for the ‘adverse market refinance’ fee has further extended which may give rise to refi volumes. The Federal Housing Finance Agency (FHFA)...

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25 Aug, 2020

Streamlining Mortgage Default Servicing: Unavailable Staff & Right Tech

Streamlining Mortgage Default Servicing: Unavailable Staff & Right Tech

Mortgage delinquencies have surged more than 8% to a 9-year high as the coronavirus pandemic hits a corner of the mortgage market and the economy as a whole. It also reflects the fact that the number of mortgage servicing staff on hand to manage mortgage default servicing operations has...

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18 Aug, 2020

Mortgage Operations Post-Lockdown: Things to Prepare for

Mortgage Operations Post-Lockdown: Things to Prepare for

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...

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14 Aug, 2020

How Servicers Can Improve Processes in Mortgage Default Processing

How Servicers Can Improve Processes in Mortgage Default Processing

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...

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11 Aug, 2020

Partnering Servicers to Support Their Loss Mitigation Efforts

Partnering Servicers to Support Their Loss Mitigation Efforts

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...

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04 Aug, 2020

Update for Lenders Looking to Close Mortgage Loans Electronically

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...

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14 Jul, 2020

What Lenders Can Do to Clear Conditions Faster

What Lenders Can Do to Clear Conditions Faster

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...

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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...

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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...

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