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Volume 15 - Number 5

March 4, 2011

Servicers in Crisis Reluctantly Embrace Technology

The mortgage servicing industry – overwhelmed by the tidal wave of foreclosures and under intense scrutiny by lawmakers and regulators – is for the most part investing more in automation tools to find solutions that will help them survive in the new business environment, report tech vendors. The consensus forming...

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Poll

Are current mortgage underwriting standards too tough?

Yes, they don’t reflect current market conditions and need to be adjusted to allow borrowers with below 700 FICO scores and smaller downpayments to qualify for mortgages.
Yes, and something needs to be done to significantly reduce repurchase or buyback risk so that lenders don’t apply even tougher underwriting overlays.
No, the standards are appropriate given current risks and the major default problems the mortgage market has experienced over the past several years.

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