DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/1085639
» VISIT US ONLINE @ DSNEWS.COM 87 LendingTree's forecast expects an increase in mortgage rates to as high as 5.5 percent in 2019. Home sales will contract margin- ally by 2 percent to 5 percent on an annual basis. Growth in home prices will moderate to about 3 percent year over year, with some localized decline. However, this will not lead to a national decline, the forecast indicated. It also pointed out that higher rates will affect homebuyer confidence. Growth concerns, driven by political risk and slower global growth could hold mortgage rates below 5 percent—breathing new life into the housing market, according to Kapfidze. Speaking of home appreciation, prices are projected to drop regardless of what hap- pens to interest rates and sales. Home price growth will moderate to about 3 percent year over year. Wage growth is likely to reach 3.5 percent year over year. Abnormally low unemploy- ment can cause a spike in inflation if wage growth approaches 4 percent, the article stated. e consumer debt of 2018 stands at $14 trillion and will continue to rise this year. "However delinquency rates are low. Although lenders may somewhat tighten un- derwriting standards, a strong labor market and wage growth will keep delinquencies low and encourage lending and borrowing," Kapfidze said. e unemployment rate is expected to fall to 3.4 percent by year-end from 3.7 percent recorded at the end of 2018. GDP will drop to 2.5 percent in 2019 from 3 percent in 2018.' Improving the Lending Process at ServiceMac Cloud-based digital technologies are changing the way lenders and servicers interact with borrowers. From loan origina- tion to servicing, technology—whether it's via the web, mobile, voice, or even artificial intelligence—is being used to enhance the borrowing experience. One example is the EXOS Servic- ing platform from ServiceLink's EXOS Technologies, which provides an intuitively designed, market-proven mobile app that offers digital touch points throughout the life of the loan. It is these features of the platform that led Charlotte-based ServiceMac to choose the EXOS platform for its consumer digital solution. "As an innovative customer-focused company, we need digital solutions via web/ mobile/voice/wearables that would elevate consumer satisfaction, provide a high level of self-service capabilities and the market maturity to understand the overall customer experience," said Bob Caruso, President and CEO of ServiceMac. "We believe the EXOS platform will deliver on this strategy and we're excited to work with EXOS to provide our omnichannel digital strategy." ServiceMac provides technology, prod- ucts, and services for the mortgage industry backed by personalized service and support. Its offerings comprise personalized solu- tions across the mortgage space along with enhanced security and customer satisfaction. Some of the features in the EXOS plat- form include real-time loan information for customers such as account status, statements, and payment information that can be ac- cessed through the mobile or a wearable de- vice. e platform was developed by EXOS Technologies, which is a part of ServiceLink. "ServiceLink is focused on transform- ing consumers' experiences and expectations around the digital mortgage process," said Chris Azur, CEO of ServiceLink. "Our EXOS technology provides a new level of transparency and accessibility that will help ServiceMac engage its customers now and in the future. We are thrilled that ServiceMac chose EXOS Servicing as its consumer digi- tal platform." EXOS Technologies provides cloud-based digital technologies to real estate lenders and servicers. Its services include mobile apps, voice interaction, APIs, and Predictive Analysis. SOUTH CAROLINA Movement Mortgage Buys Eagle's Retail Operations South-Carolina based Movement Mort- gage is expanding its operations and reach in the Pacific Northwest and Mountain West market through the acquisition of Len- nar's Eagle Home Mortgage's retail opera- tions. e transaction is expected to add $1.5 billion in additional annual mortgage loan volume to Movement's origination platform, the company said in a statement. e acquisition will also increase Move- ment's national retail mortgage footprint by 230 additional mortgage professionals and 35 branch offices. "We want to grow, GET YOUR DAILY DOSE OF DEFAULT SERVICING NEWS Start your day with the most current and critical news on the mortgage default servicing industry from DSNews.com. Sign up for our e-mail newsletter and get the top stories delivered direct to your inbox every day. Register to receive your Daily Dose at DSNews.com GET YOUR DAILY DOSE OF DEFAULT SERVICING NEWS Start your day with the most current and critical news on the mortgage default servicing industry from DSNews.com. Sign up for our email newsletter and get the top stories delivered direct to your inbox every day. Register to receive your Daily Dose at DSNews.com