March 2024

Renewed Optimism and Determination

Now that two major industry events—MBA Servicing and SF Vegas—are behind us, my major takeaway, and that of our team, is this: What a difference a year makes. Conference attendee numbers were strong, particularly in Vegas, where they hit pre-pandemic levels—signaling that companies are getting used to the market’s “new normal” and are, dare I say, cautiously optimistic about certain parts of the market, like private-label securitization. This cautious optimism was evident in the meetings we had with clients and prospects, in the buzz in the halls and in the economic overview Mark Zandi delivered to our guests at an invite-only event we hosted (see our conference recap blog below for more details). At this point, I think, the market has come to grips with the challenges we’ve all faced over the past year, and we’re determined to move forward.

Pete Pannes
Chief Business Officer

Our Take-Aways from Recent Conferences: The Mood & The Market Are Improving

Something different was in the air at the first two major conferences of this year—MBA Servicing and SF Vegas—and it was optimism. Not wild exuberance, but a clear, shared sense of resolve to do what it takes in 2024. Consumer and lender confidence, seemed to be moving in the right direction. The cautious optimism was particularly palpable in Las Vegas during the securitization industry’s annual conference where participants were continuing to get creative about unlocking the billions of dollars of home equity in the U.S.

Escrow Issues Are About to Take Center Stage: Now’s the Time to Test for Escrow Analysis Compliance

Increases to escrow accounts from rising property taxes and homeowner’s insurance are expected to cause financial strain for many borrowers. At the same time, they will create both operational and economic challenges for servicers handling more incoming calls from distressed borrowers and are forced to advance funds against shortages.

In his latest blog, Joshua Fieldgrove discusses how Clayton’s Servicing Oversight group works with servicers and subservicers on behalf of investors and MSR holders to test for a variety of escrow-related issues.

Product Spotlight: Loanscape Home Equity Report

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When it comes to home equity transactions, speed is the holy grail. The new standard everyone is shooting for is “can you close in five days?” To do that, you have to be efficient on both the title and valuation sides. Our new home equity services allow bank and credit union clients to offer a modern, streamlined origination experience that will meet that standard. Covius’ home equity services feature Loanscape HE, a point of sale solution that provides lenders critical property and consumer insights in less than 45 seconds. The report delivers title, valuation and credit information that enhances a lender’s origination workflow, coupled with expedited decisioning and accelerated closing timelines.

The Perfect Lien Release & Assignment Platform

PerfectDocs®, from NTC, is a user-friendly, web-based platform that enables servicers and investors to efficiently manage a payoff process or an assignment of mortgage for both MERS® and non-MERS loans using their own resources. Check out this video walkthrough to see how PerfectDocs can create, review, fully execute, record and track all documents required for payoffs, default requirements and/or loan transfers. Interested? Meet our team at ICE Experience (March 18th-20th) or request a demo.

Upcoming Events

ICE Experience
Mar 18-20
Las Vegas, NV
 

ACES Engage
May 19-21
Tucson, AZ
 

MBA Secondary
May 19-22
New York, NY
 

Diversified Mortgage Expo
May 31- Jun 1
Nashville, TN

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