Home / Loan Servicing

Loan Servicing

MBA Servicing 2017

Everything is bigger in Texas—including ideas, which is why this year’s MBA National Mortgage Servicing Conference & Expo could only have taken place in the Lone Star State. Set against the backdrop of the beautiful and rustic Gaylord Texan Hotel, the conference drew in thought leaders from all over the …

Read More »

Escrow – 3 Questions

Escrow accounts send a chill up the spine of some mortgage loan lenders and servicers. The collection, maintenance, and use of escrow funds have historically presented challenges for operations and compliance, and, with the publication of the TILA Escrow Rule and final rulemaking, the challenges have expanded. Here are three …

Read More »

 Big Data and Loan Servicing

By Patrick O’Connor Big Data is the latest event in the accelerating pace of human change. Humans started farming between 6,000 to 9,000 B.C., or about 8,000 to 11,000 years ago. In Western history, the Industrial Revolution started about 1800. The Information Revolution became mainstream in 1976 with the first …

Read More »

Mortgage Servicing Rules – Version 2.0

The Consumer Financial Protection Bureau’s (CFPB) fourth set of amendments to the Mortgage Servicing Rules, published in October, are the most sweeping changes since the rules took effect in 2014. Servicing remains a stated focus of the CFPB, and with the 2016 Final Rule (Final Rule) weighing in at 900 …

Read More »

Preparing for CFPB Servicing Exams – Avoiding Common Mistakes with Servicing Transfers and Private Mortgage Insurance

 By Jim Shankle and Chris Ortigara As many servicers learned in June 2016, when the Consumer Financial Protection Bureau (CFPB) published the Supervisory Highlights Mortgage Servicing Special Edition Issue 11, there are continued common weaknesses within the servicing industry. Despite improvements in many areas of servicing in the last few …

Read More »

Rethinking Loan Modification Workflow

by Joe Mowery Before a servicer permanently modifies a loan, a few things have to happen: The borrower has to qualify for the mod, provide a significant amount of documentation, and usually make at least three trial payments to demonstrate a willingness and capacity to live up to the new …

Read More »