Developments shaping servicing include shifts in Washington and mortgage performance, increased interest in home equity, advances in automation, and heightened tensions between costs and a strategic need for customer contact.
Those topics have generated buzz among professionals at the Mortgage Bankers Association’s servicing conference and elsewhere in the industry recently as they lie at the heart of what makes or breaks strategies used in part of the business that’s been a key earnings engine,
Servicing stakeholders have some thoughts on what they’d like to see changed at the Federal Housing Administration with U.S. housing officials advising that there could be policy changes and loan performance historically strong but showing some signs of weakness.
While streamlining and savings are central to some of those ideas, there are some that find one size does not always fit all in a market where customer service is key. This idea is proving central to some views on what’s sought in policy and whether to use strategies like subservicing.
Decisions about whether to subservice or bring operations in-house also are playing a role as one reconsiders the composition of its technology platform.
Also, the growing home-equity investment niche does require some servicing. While this is somewhat different than what’s done in the mortgage market there has been some interest in it as the full range of products homeowners can use to tap equity take on a larger role.
Read more about what the industry has to say about all these topics.
