Hot-Button Topics at SourceMedia Servicing Conference
Attendees at SourceMedia's Third Annual Mortgage Servicing Conference April 6-7 in Dallas will hear all about the latest servicing updates, including the recent approval of cramdowns by the House of Representatives and how this new legislation will impact servicers.
On Monday, April 6, the opening keynote address will be given by Ingrid Beckles, senior vice president of default asset management at Freddie Mac.
The session, following opening remarks by Mark Fogarty, editor of Mortgage Servicing News, will cover the "Foreclosure Phenomenon." Today's leading thinkers will share their thoughts on adapting and developing an effective strategy to confront the deluge of defaults.
There will also be discussion on the $75 billion homeowner stability initiative and new funding for the GSEs, but will it provide enough relief? The moderator will be David M. Bizar, a partner with the law firm McCarter & English. Panelists will include Suzanne Boas, president of Consumer Credit Counseling Services, Tom Deutsch, deputy executive director, American Securitization Forum, and Mark Pearce, North Carolina commissioner of banks.
Also on Monday, there will be a special presentation, an interview with Larry B. Litton Jr., president and chief executive officer of Litton Loan Servicing. Rick Glass, managing director of R.T. Glass & Associates, will ask him questions regarding the latest servicing news in today's market.
Next will be a "Roundup of New State and Federal Legislative Affecting Servicing." Moderator Roland Reynolds, from the law firm Palmer, Lombardi & Donohue LLP, will ask questions to Michael Goldberg, vice president and assistant general counsel with Wachovia's legal division, as well as to additional panelists. This session will cover trends in class actions on the loan servicing and the interplay with loan modifications. Panelists will talk about trends at the state level and changes in servicing laws. Information will be given on loan-level litigation patterns and pro-active defenses along with commentary on the enforcement of FACT Act Identity Theft Prevention. Attendees can also hear about the latest on the Housing and Economic Recovery Act implementation and its effects on servicers.
After lunch, conference attendees can find out the latest on "New Technology for Loan Performance Monitoring and Portfolio Decision Making."
While the industry got very comfortable using automated decisioning solutions for product, pricing, eligibility and underwriting, it's taken the current industry challenges to consider "re-decisioning" a loan when a borrower defaults. Yet underwriting a loan and effectively modifying a loan look a lot alike. With the addition of current data and information and rules-driven decisioning, the ability to evaluate an entire portfolio at the loan level to get the distressed borrower headed down the right revised loan path - refinance, repayment, modification, mitigation or liquidation - exists today.
Harry Gardner, a mortgage technology consultant, will moderate the panel. Panelists include Linda Simmons, general manager, mortgage finance, Overture Technologies Inc., David Stiff, chief economist, Fiserv Lending Solutions, and Dennis Stowe, president and CEO, Residential Credit Solutions. "Steps for Preventing Fraud in Servicing" is next on the agenda. Hear about how taking control of mortgage fraud is one way servicers can make a difference to the bottom line when so many other things seem out of their control these days.
On Tuesday morning, Jay Brinkmann, chief economist and senior vice president, research and economics, MBA, will provide an update.