Unprecedented, complex and sweeping
With the April 13, 2011 announcement of formal enforcement actions against certain mortgage servicers and third-party service providers and the April 28, 2011 Federal Housing Finance Agency (FHFA) Servicing Alignment Initiative, operations like yours are facing new demands on already strained operations. While you’ve been addressing gaps in default management, loan modification and foreclosure practices, as well as managing unprecedented default volumes, these new initiatives have thrown all eyes on the servicing industry and have proposed extensive operations changes.
Perhaps more than any other company serving mortgage lenders, servicers and investors, we understand the challenges these new requirements pose and what addressing each one will require of your organization. While they were designed to facilitate best practices across the servicing industry, they will likely require an extraordinary infrastructure overhaul to comply with:
- More extensive and granular management oversight
- Streamlined, auditable quality control
- Loan-level operational transparency
- Greater access to timely, relevant property and borrower data and analytics
It’s our belief that no other company can offer the industry insight and range of solutions we provide. Further, we believe that as the clock moves closer to the 60-day deadline, our experience, in-depth understanding, and extensive selection of servicing products and services will prove invaluable in meeting the federal deadline.