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
FHA announces new changes to loss mitigation waterfall HW+
Jan 31, 2023Servicers will now have to offer Covid-19 loss mitigation options to all FHA eligible borrowers who fall behind on their mortgage payments.
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Rumors, rumors everywhere, but no Wells Fargo MSR deal — so far HW+
Jan 25, 2023 -
Rumors of mega-MSR offerings from Wells Fargo stir market HW+
Jan 17, 2023 -
New Black Knight portal offers access to APIs across the mortgage cycle HW+
Jan 12, 2023 -
Wells Fargo closes correspondent biz, will shrink servicing portfolio HW+
Jan 10, 2023 -
FHA borrowers hit first, hardest by sinking economy HW+
Dec 27, 2022 -
Forbearance rate remained flat in November HW+
Dec 19, 2022 -
Carrington to pay $5.25M to CFPB for improper forbearance practices HW+
Nov 17, 2022 -
MCT launches co-issue loan sales marketplace HW+
Nov 17, 2022 -
Mortgage tech Haven raises $8M in Series A funding HW+
Nov 01, 2022 -
Ginnie Mae tweaks re-pooling rules HW+
Oct 24, 2022 -
The MSR sector continues to shine, but there is a looming concern HW+
Oct 24, 2022