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
Mortgage delinquency rate jumps with forbearances tallied as overdue
May 12, 2020The U.S. mortgage delinquency rate jumped to the first quarter in an MBA report that counts forbearances as late payments.
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Almost 4 million mortgages are in forbearance, MBA says
May 11, 2020 -
Former CFPB Director Richard Cordray: Are servicers prepared to provide relief to borrowers?
May 07, 2020 -
Democrats press top mortgage servicers on forbearance issues
May 06, 2020 -
Banks have the biggest share of mortgages in forbearance
May 04, 2020 -
Fannie Mae, Freddie Mac are preparing to cover servicers’ advances on loans in forbearance
May 01, 2020 -
Fannie Mae already has 1 million mortgages in forbearance, but thinks that number may double
May 01, 2020 -
Mr. Cooper has nearly 200,000 customers in forbearance but is no longer worried about liquidity
Apr 30, 2020 -
HUD watchdog: Some servicers are providing wrong information about forbearance
Apr 29, 2020 -
Nearly 10% of FHA and VA borrowers are in forbearance
Apr 27, 2020 -
Fannie Mae, Freddie Mac: Mortgages in forbearance do not need to be paid back all at once
Apr 27, 2020 -
Nearly 500,000 borrowers went into forbearance in the last week
Apr 24, 2020