Servicing
While mortgage servicing has taken on a much more important consumer-facing perspective since the pandemic, it had previously served as more of a talking point and rally cry within the industry – especially among mortgage brokers. Several years of debate and argument have taken place, especially since the 2017 BRAWL (Brokers Rallying Against Wholetail Lending) movement, in terms of who a customer “belongs to” – whether it’s the mortgage broker or the lender servicing the loan. Brokers garnered a sense of resentment towards lenders that would fund their customers’ loans via their wholesale division, only to later “flip” the customer into their own retail portfolio, essentially eliminating the broker from the equation.
Since then, a greater focus has been placed on lenders and servicers that retain servicing and keep their brokers connected to the end customer. A noteworthy first-mover in the push to support brokers in their long-term customer retention efforts was Homepoint’s Customer For Life program.
Latest Posts
Rising interest rates trigger an exuberant MSR market HW+
Feb 03, 2022“On average, historically, we’d be selling $100 billion to $125 billion [in MSRs] annually,” Incenter Mortgage Advisors’ Tom Piercy said. “And now we just did over $110 billion for the month of January.”
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HousingWire Magazine: February 2022 HW+
Feb 01, 2022 -
Groups blast FHA draft defect taxonomy in joint letter HW+
Jan 28, 2022 -
Wells Fargo pays $12M for wrongly denying mortgage modifications HW+
Jan 27, 2022 -
Flagstar to pay $3.6M over flood insurance violations HW+
Jan 21, 2022 -
Court authorizes class action against Carrington over servicing fees HW+
Jan 21, 2022 -
Forbearance rate drops below 1.5% HW+
Jan 18, 2022 -
What happens when forbearance ends? HW+
Jan 13, 2022 -
Mortgage delinquency rate reaches prepandemic levels HW+
Jan 11, 2022 -
2022 opens with a big MSR bulk-sale offering HW+
Jan 06, 2022 -
Covius integrates Stavvy for RON and eSign on loan mods HW+
Jan 06, 2022 -
20 state attorneys general take aim at mortgage servicers HW+
Jan 05, 2022