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» default servicing in print and online d e fa u lt se r v ic in p g in onl a nd r in t in e @ d VILLAINS … OR 12 .2 0 VICTIMS? PROGRAMMED FOR PERFORMANCE Did officials in Nevada bend the rules m 11 a criminal offense, Incentives, better communication, to make key to creating s.c o is it robo-signing the end justifies and personal service areand reducing or a case where low-default solutions sn e w the means? foreclosures. @ INSIDE THE BELTWAY The new HUD Office of Housing Counseling website is a veritable encyclopedia of information and resources related to counseling for homeowners, homebuyers, renters, and even the homeless. There is also a list of professional counseling services. This should be the first point of contact in locating help for housingrelated issues. As proof of HUD's confidence in the positive effects of counseling, recently this agency announced the award of more than $40 million in housing counseling grants to 334 national, regional, and local organizations. As a result, more than 1.6 million households will have a greater opportunity to find housing, make more informed housing choices, or keep their current homes. Studies conducted by HUD's policy and research department have shown that housing counseling helps families prepare for homeownership or keep the home they currently have. "The evidence is clear, with a little investment on the front end, we can go a long way toward improving the chances that families will buy a home they can afford and sustain in the long run," stated a HUD spokesperson. Key findings of the study also revealed that 35 percent of the study participants had become homeowners within 18 months after seeking pre-purchase counseling and that only one of the purchasers had fallen at least 30 days behind on mortgage payments within 12 to 18 months after receiving pre-purchase counseling services. These findings suggest that pre-purchase counseling assists clients in making good decisions regarding homeownership. SUBSCRIBE TO THE LEADER IN DEFAULT SERVICING NEWS MARKET PULSE Newest Kid on the Block COVER STORY homeownership is not realistically within reach at this time. To ensure that counseling would be offered as a loss mitigation and foreclosure prevention activity, the Office of the Comptroller of the Currency (OCC) and the Federal Reserve Board recently ruled that these services could be funded by payments received from servicers for deficient mortgage servicing practices. "I'm pleased to report that, as a result, more than $30 million has been committed to HUD-certified counseling organizations to provide affordable housing, foreclosure prevention, or educational assistance," Curry explained. Similar counseling services will also be offered through some banks. Under the Community Reinvestment Act, banks can receive positive CRA consideration for offering community development services including credit counseling, homebuyer and homemaintenance counseling, or financial planning. VISIT US ONLINE @ DSNEWS.COM dsnews.com 02.2013 SEISMIC SHIFT IN SERVICING IS THE RECOVERY THE REAL DEAL? With mortgage servicing rights trading hands at a furious pace, non-bank servicers stand to gain from banks' portfolio trimming. Things are looking up for the country with most economic indicators pointing toward recovery, but are they legit or is it a case of wishful thinking? AR RNACUL n As' VE breakdow n ee n NG HO betw SPEAKI unicatio tion meowner mm nten ts Roommunity o h C The t Grow of Co ds co d ho service bree icers an t field e gap. serv ns, bu idge th ciatio n br S asso iders ca AN-LOS prov ER LO still iffy, ss DS OV beef AT OD fiscal fitne rs tos, but de With want len erve that's res tors n-loss ain ne. regulaeir loa ers maint an do th bank id th up r sa some easie TS GHOS SPELLIN Typified byDItheirG fluid business formulas and time-tested tactics, these 25 top-of-the-line leaders have the art of servicing down to a science. s of ance the nu ration ating y regist ting, Navigpropert is a daun able, nt ge es vaca inanc unmana siness. ord not bu but rt of the pa es with s allianc erica's rative ing Am the seed Collaboare help ods plant ho fits nonpro neighbor future. tful a frui for DS News is the only publication in the country solely dedicated to providing default servicing professionals with news and content focused on their industry. SUBSCRIBE NOW! Call 214.525.6700 or connect with us online at DSNews.com. 51

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