During the last few years, the housing market has been hit with real property value declines in many markets, high unemployment rates, and unprecedented borrower defaults on home mortgages.
Servicers of residential mortgages have faced extraordinary challenges in trying to help borrowers avoid foreclosure. The following white paper summarizes some of the key challenges faced by mortgage servicers, lessons learned during the recent housing crisis and issues and opportunities that need to be further explored to improve residential mortgage servicing in the future.
Publisher: Mortgage Bankers Association
Date: May 2011
Format: White Paper