What’s ahead for servicers in 2021?
February 1, 2021
Subscribe
Spotify
Today’s HousingWire Daily focuses on the newly released HousingWire February magazine issue. In this episode, HW+ Managing Editor Brena Nath discusses what readers can expect in HousingWire’s February magazine issue, which focuses on the unique challenges servicers face in 2021.
HW Magazine is a part of the HW+ premium membership community. If you’re not a member yet, you can join here to get exclusive, in-depth articles, transcriptions of our podcast, free registration to HousingWire events and more.
For some background on the interview, here’s a brief summary of February’s magazine:
We start the beginning of each year with a magazine issue that focuses on servicing, and this year is no different. But after the tumultuous year we experienced in 2020, servicing will now be more important than ever.
Flashback to the Great Recession that began in 2008 and the devastation that followed, servicers were put in the hot seat as foreclosures swept across the U.S. Now, once again the spotlight is on mortgage servicers, but they are rising to the occasion. In fact, even Federal Housing Finance Agency Director Mark Calabria recognized the effort servicers were making to help borrowers in forbearance and thanked them.
But their work is far from over. Last year, servicers faced challenges as record numbers of Americans requested forbearance and job losses mounted. Regulators such as the FHFA and others put mandatory forbearance programs in place that servicers had to navigate. But in the year ahead, servicers will face even more challenges as forbearance programs come to an end, and loss mitigation efforts begin.
Servicers will face challenges such as scaling up, and knowing when it’s right to do so, navigating various forbearance exit trends and what technology to use and when. We cover all this and more in our cover story starting on page 26.
HousingWire Daily examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd and Victoria Wickham.
HousingWire articles related to this episode:
