CampusMBA, the education division of the Mortgage Bankers Association (MBA), has announced that it has developed two comprehensive, instructor-led online courses to provide training for industry professionals in order to comply with emerging servicing standards. CampusMBA's creation of the specialized courses comes as the residential mortgage servicing sector has been operating in a time of unprecedented challenges.
"This is a crucial time for the mortgage industry. Residential mortgage loan servicers have come under heavy scrutiny in the last several years as a record number of homeowners have fallen behind on their monthly mortgage payments and have lost their homes to foreclosure," said David H. Stevens, MBA's president and chief executive officer. "As servicing issues continue to be in the spotlight of regulators and legislators, both on the state and national levels, companies are realizing how valuable formal training can be for their increasingly busy servicing staffs."
The Emerging Servicing Standards Guided Online Course Series, will be taught by industry experts and designed for residential servicing professionals. This new series consists of four guided online courses and covers all aspects of emerging servicing standards including Single Point of Contact (SPOC) and Quality Right Party Contact (QRPC), collections and early intervention, loss mitigation underwriting decisions and real estate-owned (REO) and asset management. Each guided course includes case studies, virtual field trips, job aides, tests and certificate of completion for training transcripts. CampusMBA is in the process of scheduling multiple opportunities to take this course offering.
"CampusMBA is responding rapidly to the needs of businesses facing today's market and the courses on emerging servicing standards is yet another example of how CampusMBA is providing real solutions for our industry and its professionals," said Jeffrey Schummer, MBA's VP of education.
The next scheduled course, "REO & Property Preservation: Asset Management Protection," will be an intensive, hands-on instructor-guided online program and is designed to educate REO staff and management on effective timing, tools, resources, marketing strategies and approaches to mitigating risk. This instructor-guided online course will take place Monday-Tuesday, March 12-13.