Michael D. Berman, CMB, chairman of the Mortgage Bankers Association (MBA) and John A. Courson, MBA's president and chief executive officer, have announced the MBA has assembled a task force of key MBA members to examine and issue recommendations for the future of residential mortgage servicing. The Council on Residential Mortgage Servicing for the 21st Century will be led by Debra W. Still, CMB, president and chief executive officer of Pulte Mortgage LLC of Englewood, Colo. and MBA's vice chairman.
"The residential mortgage servicing sector has been operating in a time of unprecedented challenges, presenting us with a unique opportunity to explore potential improvements to business practices, regulations and laws affecting the servicing sector and consumers," said Berman. "As the national trade association representing the real estate finance industry, we will bring together industry experts to take a comprehensive look at the current state and ongoing evolution of residential mortgage servicing and make recommendations for the future."
The Council will convene a one-day summit on Jan. 19, 2011, in Washington, D.C. Titled, "MBA's Summit on Residential Mortgage Servicing for the 21st Century," this meeting will bring together industry leaders, consumer advocates, economists, academics and policymakers who will take a detailed look at the issues that have challenged the industry and identify the essential building blocks for the future of servicing.
In the coming months, residential mortgage servicing will face many more changes in an effort to re-tool the industry for the longer haul said Council Chairman Still. "The Summit will serve as a forum for thoughtful, knowledgeable discussion around how residential mortgage loan servicing should be done in the future."
Following the summit, the Council will meet on a regular basis to discuss the myriad of issues facing the industry and how the industry can and must change moving forward.
The members of MBA's Council on Residential Mortgage Servicing for the 21st Century are:
►Debra W. Still (Chairman), CMB, Pulte Mortgage LLC
►David Allison, Dovenmuehle Mortgage Inc.
►Richard A. Aneshansel, U.S. Bank Home Mortgage
►Jon K. Baymiller, New York Community Bank
►Joseph Anthony Bonaventura Jr., CMB, BB&T
►Phillip W. Bracken, CMB, Wells Fargo Home Mortgage
►Brandon Coleman, CitiMortgage Inc.
►Jordan D. Dorchuck, CMB, American Home Mortgage Servicing
►Sterling Edmunds Jr., CMB, SunTrust Mortgage Inc.
►Ronald M. Faris, Ocwen Financial Corporation
►Michael Fontaine, CMB, Plaza Home Mortgage Inc.
►Martin L. Foster, PHH Mortgage
►Jonathan M. Gaiser, Bank of the West
►Robert Gaither, Bank of America Home Loans
►Michael C. Koster, EverHome Mortgage Company
►Terry L. McCoy, MetLife Home Loans
►Mary Ann McGarry, Guild Mortgage Company
►J. David Motley, CMB, Colonial National Mortgage, a Division of Colonial Savings
►Scott A. Reed, Midfirst Bank
►Matthew I. Roslin, Flagstar Bank
►Glenn Silver, Chase
►Jennifer Simons, The PNC Financial Services Group, Inc.
►Gregory S. Tornquist, Cenlar FSB
►Kimberly Walsh, Ally Bank
►Glenn Weller, Standard Mortgage Corporation
For more information, visit www.mortgagebankers.org.