One of the biggest challenges within the mortgage industry is ensuring properties are protected. It’s crucial that mortgage servicers, field service providers and municipalities strive to comply with local, state and federal preservation requirements, which often results in increased litigation exposure and regulatory oversight.
()Mortgage Bankers Association National Servicing Conference & Expo, a panel of housing experts discussed property preservation and tackled the issues that keep servicers up at night.
()U.S. Department of Housing and Urban Development()
()Mortgage Contracting Services vice president Tracy Hager added that the guidelines include Office of the Comptroller of the Currency()
The tactics and guidelines to preserve neighborhood integrity and protect home values are ever-changing and it’s crucial for servicers to remain up-to-date on all changes in requirements.
