Another concern was that out-of-state call center lenders might not know the local lending laws, which can result in delayed closings.

“I’m wondering how many people buy homes outside of buying them with cash,” Ryan said during the webinar. “To me it’s that serious.”

During his career, Dunnery was also a director within Fannie Mae’s national servicing organization.

Investors Unite now boasts almost 1,000 members, which include both common and preferred stakeholders in Fannie Mae and Freddie Mac.

A big deal or ho-hum: Fannie Mae in late July said it will allow for shorter waiting periods involving mortgage debt charge-off accounts and mortgage debt that is discharged through a bankruptcy.

Lenders spend an inordinate amount of time responding to FHA indemnification requests about minor concerns that in many cases are ultimately revoked, according to the Mortgage Bankers Association.

Complaints about inaccurate data include issues such as account status, account terms, “information is not mine,” personal information, public record and “reinserted previously deleted information.”

Over the past year, several top ranked depository lender/servicers have cut staff, but there has been less bloodletting at the nonbanks.

Many banks are beginning to shy away from the product as the Inspector General of the Department of Housing and Urban Development and Justice Department take banks to task for underwriting flaws.

Mystery continues to surround the seller of that $27 billion MSR package...