Peoples Processing, Inc. introduced a unique mailbox monitoring system that can help servicers manage the forbearance and other default related requests with a high level of quality and consistency.
The mailbox monitoring system helps servicers in ensuring that every forbearance request coming in is allocated to the relevant processor, in time and service-level agreements for response are defined clearly. This will allow servicers to drive efficiency in the default servicing process.
Sam Verma, president and CEO at Peoples Processing, said, “With our mailbox monitoring system, we are enabling servicers to process large volume of forbearance requests with high degree of accuracy and precision. Servicers enjoy benefits of faster, prioritized, and relevant follow-ups with the borrowers, while ensuring compliance.”
Seller/servicers using artificial intelligence in origination or servicing must have formal policies, oversight, and vendor controls in place
Fannie Mae’s artificial intelligence and machine-learning governance requirements take effect Thursday, Aug. 6, giving approved seller/servicers a final deadline to formalize how the technology is used across mortgage origination and servicing.The requirements apply when a s...
Pending sales fell to their lowest level since early April, but lower asking prices and reduced competition give originators more options to structure deals for qualified borrowers
Higher mortgage rates are thinning the purchase pipeline, even as lower asking prices and reduced competition give borrowers still in the market more leverage.Seasonally adjusted U.S. pending home sales totaled 322,739 during the four weeks ending July 26, their lowest level...
Wholesale lender cites internal loan data to urge regulators to monitor whether new condominium eligibility standards reduce access to conventional financing
The lender group says mortgages below $100,000 routinely lose money, while LO compensation rules could prevent federal incentives from reaching originators
The appraisal management company says it is the first to complete certification for FHA’s modernized EAD platform, giving lender clients an early path toward implementation