Servicing Experts Talk Forbearance Practices

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago CARES act debt Forbearance mortgage 2020-05-17 Seth Welborn Demand Propels Home Prices Upward 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save Tagged with: CARES act debt Forbearance mortgage  Print This Post Related Articles Subscribe Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img Governmental Measures Target Expanded Access to Affordable Housing 2 days ago With so many changes to keep up with as a result of the COVID-19 pandemic, you don’t want to be left behind. DS News recently hosted a complimentary webinar that addresses the best practices in forbearance agreements, including mortgage compliance and business strategy for all residential mortgage servicers, attorneys, interested government parties, and service providers supporting the industry.Speakers for this presentation included:Moderator: David Wharton, Managing Editor, DS News & MReportJohn Dunnery, VP – Government Loan Servicing, Bayview Loan Servicing, LLCDeborah J. Grissom, Senior Director, Treliant, LLCEllen Rose, Senior Director, Treliant, LLCCourtney Thompson, SVP Default Mortgage, Flagstar BankSharon Zuniga​, SVP, Default Operations, ServiceMacForbearance requests have begun to slow, according to data from Black Knight, but there is a risk of May-related forbearance activity changing that trajectory. As of April 30, more than 3.8 million homeowners are now in forbearance plans, representing 7.3% of all active mortgages, according to the latest data from Black Knight. Together, they account for $841 billion in unpaid principal and includes 6.1% of all GSE-backed loans and 10.5% of all FHA/VA loans.Grissom noted that the optimistic view puts the total number of active forbearances at 4.5 million in June, and the pessimistic view at close to 9 million.“Bottom line, there is a range of four to nine million loans that are going to need multiple operational touchpoints over the next 12 to 18 months,” said Grissom.Speakers also discussed the importance of communications at this time, as many customers need to be educated on what forbearance is and isn’t, and when they should take advantage of it.“There’s a lot of information out there,” said Zuniga. “Our job isn’t to tell the customer what to do, our job is to hear the customer, and assisting them with their questions about forbearances and the CARES act.” Servicing Experts Talk Forbearance Practices Previous: Dana Wade Expected to ‘Hit the Ground Running’ Next: The Week Ahead: Update on CARES Act Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Servicing Experts Talk Forbearance Practices About Author: Seth Welborn in Daily Dose, Featured, Market Studies, News May 17, 2020 1,277 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. last_img