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Volume 2014 - Number 13

April 3, 2014

Bank Servicers’ Loan Modification Activity Declines, Focus Shifts to GSE Mortgages

Loss-mitigation activity by major bank servicers has decreased significantly in the past year, coinciding with servicersí completion of loss-mitigation requirements under the $25 billion national servicing settlement. Eight major banks and thrifts completed 72,466 loan modifications in the fourth quarter of 2013, a 49.5 percent decline from the fourth quarter of 2012, according to a new report from the Office of the Comptroller of the Currency. The servicers completed 60,765 foreclosures in the fourth quarter, down 42.6 percent from the fourth quarter of 2012. The declines in loan mods and foreclosures by banks have outpaced...

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With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.


No. It’s still difficult compliance/regulatory-wise.


Maybe. It’s under consideration.


Not now. But things could change as 2018 progresses.