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71 71 for the default servicing industry, because it sets the pace for a slow ramp of delinquent mortgages and gives servicers time to prepare for the inevitable increase in default servicing activity. Financially distressed homeowners squeezed by inflation-driven increases in spending aren't likely to find relief from government programs this time. A housing market cooldown also means equity gains could slow for some homeowners, providing less protection from mortgage defaults for those who fall behind. CoreLogic expects the market to cool around 6% by March 2023. ere are three clear advantages that a slow build of delinquencies will have for the default servicing industry. First, the slower pace of delinquencies allows servicers to provide more thoughtful loss mitigation options to borrowers. Second, financial institutions can reallocate valuable resources by transitioning their workforce from origination to loss mitigation and default. ird, mortgage servicing is ripe for innovation, and the technologies needed to address long-time servicing delinquencies (pun intended) are becoming more readily available. is third point will resonate beyond the impending cycle of higher default volumes. is new generation of mortgage-focused technology stands to drastically improve an industry that has long needed an overhaul. Innovation such as Voxtur's BestX®, a due diligence tool for mortgage investors and services, aggregates foreclosure and bankruptcy data from court records to generate status reports and risk analytics for more efficient and intelligent trading and servicing of defaulted assets. is is just one example of the ways in which automation and innovation can bring efficiency to a traditionally manual piece of the industry. Servicers that are open to new technologies and more automated processes will have a substantial advantage over their peers as they scale operations more efficiently, reduce costs, and mitigate risk. ese savings will ultimately flow through to the consumer, and which will resonate for years to come, well beyond the next cycle of defaults. With this increase in defaults, we will likely see more housing inventory. Together with the savings that consumers can expect to see from more widespread adoption of mortgage technology, this leads to more affordable homeownership and a better future for many Americans. Jim Albertelli is the CEO and Stacy Mestayer is the CLO of Voxtur, a transformational real estate technology company that is redefining industry standards in a dynamic lending environment. e company offers targeted data analytics to simplify tax solutions, property valuation, and settlement services throughout the lending lifecycle for investors, lenders, government agencies, and servicers. Voxtur's proprietary data hub and workflow platforms more accurately and efficiently value assets, originate and service loans, securitize portfolios, and evaluate tax assessments.