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
CFPB, FTC file amicus brief against Ocwen over servicing ‘convenience’ fees
Feb 28, 2024The suit alleges that fees charged for transactions processed online or over the phone run afoul of the Fair Debt Collection Practices Act.
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Industry experts are closely watching delinquency rates, insurance costs
Feb 23, 2024 -
V.A. is still “moving forward” with servicing purchase program
Feb 22, 2024 -
FHA institutes new payment supplement partial claim
Feb 21, 2024 -
Sagent unveils new servicing platform
Feb 21, 2024 -
Sagent taps Geno Paluso as new CEO
Feb 13, 2024 -
California HAF requirements extended in bid to entice more beneficiaries
Feb 13, 2024 -
A customer experience playbook for the $14T servicing industry
Feb 08, 2024 12:36 pm -
Sagent CTO Uday Devalla on how to transform servicing
Feb 01, 2024 -
Two Harbors to launch origination channel next quarter
Jan 30, 2024 -
A repositioning of players in the MSR market is underway
Jan 30, 2024 -
Former Cenlar FSB exec joins Ranieri Solutions as CEO
Jan 22, 2024