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The Consumer Financial Protection Bureau may be easing off on certain regulatory requirements, but new rules for successors in interest and bankruptcy notifications are still being implemented.

At the same time, state regulators are signaling that they could step up enforcement in areas where the CFPB backs off.

"I do think we will see more at the state level," said T. Robert Finlay, a partner at law firm Wright, Finlay, Zak LLP, during a panel on regulation at a recent industry conference about mortgage servicing rights.

And even if the states and CFPB are less active, servicers still need to remain compliant with the guidelines laid out by their secondary market business partners, including Fannie Mae, Freddie Mac, the Federal Housing Administration and Ginnie Mae.

So servicers and subservicers expect they will still be contending with high compliance budgets, as well as limited flexibility in the pricing that is ingrained in these agencies' policies, for some time to come.

The means the big question in servicing is still "How do you solve for that?" Steven Staid, senior vice president at PHH Mortgage, said at the conference.

Bigger servicers can turn to economies of scale, he noted. But smaller ones may not have that option unless they merge or agree to an acquisition. The alternative lies in finding ways to be more efficient with managing costs and processes.

From tech that ensures foreclosures are processed correctly to implementing robotic process automation, here's a look at seven strategies that servicers can use to stay compliant and on budget.


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