The CFPB has emphasized that servicers must pay close attention to consumer complaints. The adoption of technological solutions, though slow in this area, can help.
Remote ink notarizations made mortgage closings exceptionally convenient amid the coronavirus, though the MBA suggests that state policymakers should focus on remote online notarization, which is more secure.
Subservicing has been a growth business the past several years but now some mortgage bankers, flush with cash from the refi boom, are bringing the task inhouse.
Nonbanks’ performance amid disruptions caused by the pandemic supports growth. Moody’s increased its operating environment score for nonbank mortgage companies.