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…

Article source: http://www.nationalmortgagenews.com/nmn_features/national-loan-servicing-standard-1026009-1.html?CMP=OTC-RSS

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