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They include new vendor guidelines expected to cause a dramatic increase of risk management outsourcing; greater interest in RMBS and CMBS transactions but controlled supply; managing the processes and improving operations to comply with the requirement to assign a human single point of contact delinquent borrowers; longer processing time for loan applications as originators and especially servicers become more accustom to regulations set by the CFPB. Regulatory compliance strides however, will simultaneously generate benefits starting with a myriad of new oversight and embedded tools; the need to update processes and adhere to more efficient loss mitigation timeframes; or offering a user-friendly experience for customers, which will be crucial in 2014. Here is what they said:
Brent Taggart, SVP at Green River Capital:Growth in the REO-to-Rental securitization market is one of the expectations for 2014. One major deal was completed (Deutsche Bank and Invitation Homes), and it was received very well. Other aggregators and lenders have inquired about doing their own securitizations and we would expect that it will continue to grow as an asset class.The continued growth of interest in short sales is another and it is attributed to the increase of borrower outreach and right-party contact. We have achieved that for those clients who have been generous in providing incentives for borrowers enabling them to seek alternatives to foreclosure. In turn, our agents have been successful in listing the properties and getting great offers.