Lower volumes and increased regulation are leading more lenders to consider outsourcing. But the savings and compliance improvements must outweigh increased liability for contractors and a rise in offshore prices.
Once written off as an endangered species, nonbank home lenders are making a comeback in the third-party origination businesses abandoned by banks since the financial crisis.
Here is a list of 18 items loan officers should consider when talking with their current or future employers, including who owns the database.
The rapid growth and increasing regulatory scrutiny of nonbank mortgage servicers could "severely" affect the whole industry, Mortgage Bankers Association Chairman-Elect Bill Cosgrove says.
The volume of complaints lodged by distressed borrowers to four of the largest U.S. banks has stabilized, the monitor for the national mortgage settlement says.