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Venue

Dallas/Addison Marriott Quorum by the Galleria
14901 Dallas Parkway
Dallas, TX 75254
Tel: 800-228-9290

Forward this Session

Forward this Session

THE FUTURE OF LOSS MITIGATION

The mortgage servicing industry continues to experience unprecedented regulatory and supervisory change (i.e. consent orders and judgments, self-assessments, CFPB, external audits, etc.). As a result, servicers are spending significant time and resources to quickly bolster compliance and internal audit programs and improve operational practices, including adding staff, improving policies and procedures, and strengthening controls, amongst others. Not only is this work done under short and demanding time frames, it is often done without the benefit of having insight into peer/emerging practices.

Servicers must redefine themselves by taking a more holistic approach to loss mitigation and foreclosure prevention. By assessing technology, re-engineering processes, and maximizing staff, can mortgage servicers establish a competitive advantage among peers through reduced servicing costs, delinquency rates, and loss severities while, at the same time, improving the borrower experience?

More specifically, this panel will cover four areas: 1. Emerging practices and trends in outreach strategies and loss mitigation/foreclosure prevention 2. The impact of increased regulation and supervision, including OCC/OTS Consent Orders, DOJ Consent Judgments, State of NY Agreements, and CFPB exams. 3. Staffing, training, and the Single Point of Contact 4. What’s next? A look inside the crystal ball.

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