Mortgage Services Redefined
In the post financial crisis era, lenders are looking for innovative solutions to reduce defaults and meet evolving customer demands. The primary mortgage market has predominantly been a paper intensive industry. However, over the last several years, there has been a major push towards modernization and e-submission of documentations to enhance regulatory compliance and improve overall client experience.
In the secondary mortgage market, a recent directive from the Federal Housing Financial Agency (FHFA) requires Government Sponsored Enterprises (GSEs) to work together to develop a single Mortgage-Backed Security (MBS) to align the existing MBS and Participation Certificates (PC). The primary objective is to move towards a shared risk model on GSE (Government Sponsored Enterprises) guaranteed securities.