The Need for a National Loan Servicing Standard

We at MBA believe that a consolidated national servicing standard, if developed in a cooperative manner, could stimulate much needed reform of a residential mortgage loan servicing system that has admittedly failed a great number of consumers during the recent foreclosure crisis.

In 2008 we faced a “perfect storm” as the global economy collapsed, the subprime market imploded, many Americans lost their jobs and millions of Americans defaulted on their mortgages, putting extraordinary strains on theĀ…

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