DALLAS Feb. 22, 2011 The Work Number® MBA’s National Mortgage Servicing Conference & Expo ™ September 2010
Ford added, "In 2011, financial institutions will give priority to loan modifications, foreclosures and repurchases as indicated by strong initiatives announced since the start of the year. To respond to the growing repurchase problem, institutions like Bank of America are even establishing company units dedicated to servicing defaulted loans."
In a recent announcement issued by Bank of America, the bank’s newly formed Legacy Asset Servicing unit will manage the bank’s mortgage modification and foreclosure programs. As institutions make this a higher priority, services like Point In Time will become increasingly necessary to help lenders quickly and cost-effectively investigate their loans.
Dann Adams $13 billion
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