About 1.4 million homeowners are still forbearing and all eyes are examining the possible risks. Repairers have borne much of the risk over the past year, gaining a spot in the industry spotlight as forbearance volumes skyrocketed. They have evolved and woven to comply with regulatory and market changes and have handled high volumes of borrower inquiries through multiple borrower touchpoints. Investors and lenders who rely on subcontractors have also been watching their risks closely, in particular fearing that their subcontractor will not be equipped to handle the high level of care borrowers need when they leave. abstention plans.

In the midst of this, Ginnie Mae’s evolving pooling rules for RPLs have spurred a race in the lucrative Early Redemption (EBO) market with benefits that include mitigating ongoing P&I losses and balancing out DQP ratios. Holders, however, need an airtight service strategy to address these loans. Dave Vida, a mortgage industry veteran and Executive Vice President of Business Development at Computershare Loan Services (CLS), says: “EBO buyers need to ensure they have sufficient staff to handle the transactions. non-performing loans and that they are prepared for changing market conditions. This involves having the appropriate level of expertise to handle a sudden increase in loss mitigation. “

CLS is a leader in sub-service and supports re-performance throughout the EBO lifecycle. Their strategies protect client assets and generate returns with an FHA six-month average cure rate of 53%. CLS’s due diligence process identifies risks in five categories (accuracy of borrower information, borrower cooperation, payment history, loss mitigation status, and foreclosure and bankruptcy status), so that customers can anticipate their expected returns.

Preparation makes the difference
COVID-19 has undoubtedly challenged the mortgage industry, but most services have been able to adapt quickly. The JD Power 2021 US Primary Mortgage Servicer Satisfaction Study reported a slight increase in borrower satisfaction compared to previous years, in part due to high satisfaction rates among borrowers who participated in forbearance programs. For example, CLS’s configurable systems and tools have helped borrowers make real-time forbearance requests through competency-based routing. They took every step to ensure borrowers could easily access their forbearance plans and understand their repayment options. At the height of the pandemic, they responded to more than 100,000 borrowers seeking pandemic-related assistance and, due to their high-impact engagement, 86% of borrowers with forbearance plans walked out. successfully, to September 10.

Sustain your business with the right partner
Lenders and investors need progressive, client-centric partners who drive innovation and keep the borrower at heart. With over $ 40 billion of UPB on board each year, CLS shows no signs of slowing down. They are committed to helping clients achieve their goals, regardless of the challenges ahead. There is no doubt that there will be a wave of defaults, but their goal is to reduce this wave as much as possible. Their comprehensive managerial oversight, enterprise risk management (ERM) control environment, proactive client response model and operational strategies, coupled with their commitment to the borrower experience, set them apart. Kelly O’Bannon, services industry expert and executive vice president of national service sales for CLS, says, “Our core services platform is aligned with changing investor loss mitigation guidelines and adapts. the preferred method of communication of borrowers. Whether online or over the phone, we’re ready to help.

Computershare Loan Services (CLS) has 18 years of experience in protecting client portfolios. With deep roots in the default sub-service and proprietary loss mitigation technology, their solutions evolve as the market changes. CLS operates as a Level 1 Ginnie Mae and Federal Housing Administration (FHA) manager. They are endorsed by Freddie Mac, Fannie Mae, the United States Department of Agriculture (USDA) and the United States Department of Veterans Affairs (VA). Recent ratings from Moody’s, Fitch and S&P confirm that CLS’s continued investment in management, service and growth models provides clients and borrowers with a better experience. Additionally, they continue to win the Freddie Mac Service Honors and Awards Program (SHARP) Award and Performer Recognition for Achievement and Fannie Mae Total Service Award (STAR) of the Year. in year.

Meet Dave Vida and Kelly O’Bannon at the Annual MBA Convention and Exhibition. Or send them an email to [email protected]

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