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MBA Servicing: Mortgage borrowers are now your biggest asset

5 takeaways from the conference
One of the limitations mortgage servicers face is the relatively small margin baked into servicing. You can’t just raise the cost of servicing, so what can you do? You can leverage your unique 30-year relationship with the consumer to expand into different business lines.
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TMS obtains provisional approval for three blockchain servicing patents

Three patents will introduce servicing data and records to the blockchain
Financial services and mortgage company TMS announced it has received provisional approval for three blockchain-related servicing patents. The company explained that through its subservicing platform SIME, or Servicing Intelligence Made Easy, the three patents will introduce servicing data and records to the blockchain for the first time. 
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MBA Servicing: Here's how to prepare for servicing exams right now

New risks around LEP and ADA requirements
As the CFPB has taken a step back from examination and enforcement, other federal agencies and states have stepped in. Instead of one agency’s rules and regulations to deal with, mortgage servicers now have to cater to a multitude of regulators looking at a variety of new areas. It all equals expanded risk.
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MBA Servicing: Despite recession risk, forecast for servicing looks good

Home price appreciation and wage growth bode well for growth
The MBA has raised the odds of a recession to a one-in-three chance over the next 12 months, but However, both Joel Kan and Marina Walsh stressed that the recession, if it happens, is likely to be mild. Amid all the economic data, the indicators that carry the best news for servicers are strong payroll growth and strong wage growth.  
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MBA Servicing: What does the future of mortgage servicing look like?

Panel calls for more innovation in servicing
Leaders from the FHFA, USDA and VA took the stage at the Mortgage Bankers Association’s Servicing conference Tuesday to talk about the future of mortgage servicing. So what does that future look like? More M&A, more tech investment and, if you’ve got a really long lens, more standardization.
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Servicers embrace digital empowerment to boost customer retention

Black Knight's Servicing Digital provides robust information about customer real estate assets
Customer satisfaction and engagement are critical for servicers to build lasting relationships and retain clients. Servicer retention rates dropped to 10-year lows in 2Q 2017, with servicers losing business from nearly 80% of their borrowers. Improving mortgage retention rates increases the likelihood a consumer will continue working with their existing bank or mortgage provider on their next financial decision, such as a home equity loan or their next mortgage. Black Knight, a leading mortgage industry fintech, has developed a unique solution to aid servicers in building these relationships, increasing retention and achieving future business growth.
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Former FHA Commissioner Carol Galante stepping down from Ocwen board

Nonbank also names new two board members
Carol Galante, the former commissioner of the Federal Housing Administration, is set to leave Ocwen Financial’s board of directors later this year, the nonbank announced Monday. Galante notified the company that she has chosen to leave the company’s board and will not stand for re-election during the company’s annual shareholder meeting in late May.
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Rising Star nominations end today!

Have you nominated your favorite young professional?
HousingWire's Rising Stars represent the best young leaders in the mortgage industry – in lending, servicing, investing and real estate. Nominate yours before it’s too late!
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HomeStreet Bank moves to sell off almost entire mortgage business

Lender’s mortgage business has struggled recently
After struggling to keep up with the mortgage business’ new reality of lower refinance originations due to higher mortgage interest rates, HomeStreet Bank is plotting a mass exodus from the mortgage business. The bank announced Friday that it is planning to sell off its entire retail mortgage operation, which includes 72 home loan centers in five states.
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