What's next for default servicing attorneys, property appraisers, home preservation experts and other mortgage servicers as they prepare for an onslaught of federal reforms and a backlogged foreclosure inventory?
That's the question on the minds of many mortgage servicing professionals who attended this year's MBA National Mortgage Servicing Conference & Expo in Grapevine, Texas.
HousingWire.com reporters interviewed several industry leaders on camera inside the expo hall Wednesday morning.
Most are optimistic the industry will be able to meet the demands of regulators as sweeping regulatory changes begin to mortgage servicers nationwide.
Here's a sampling of what's on the mind of servicing professionals who are evaluating the year ahead:
Kerri Ann Panchuk was the Online Editor of HousingWire.com, and regular contributor to HousingWire magazine. Kerri joined HousingWire as a Reporter in early 2011 and since earned a law degree from Southern Methodist University. She previously worked at the Dallas Business Journal.
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There has been a conscious and rapid shift to broaden the use of alternative valuation products for origination. Not every decision needs a $500, full-blown 1004 interior appraisal. And in some markets where appraisers are short in number, the turn times can stretch from days to weeks. What these new alternative — some would say disruptive — valuation products do is enable lenders and servicers to better match the product to the risk by harnessing big data and technology.