The Mortgage Bankers Association (MBA) has assembled a task force to examine and issue recommendations for the future of residential mortgage servicing. The Council on Residential Mortgage Servicing for the 21st Century will be led by Debra W. Still, the MBA's vice chairwoman and president and CEO of Englewood, Colo.-based Pulte Mortgage LLC.
‘The residential mortgage servicing sector has been operating in a time of unprecedented challenges, presenting us with a unique opportunity to explore potential improvements to business practices, regulations and laws affecting the servicing sector and consumers,’ says Michael D. Berman, the MBA's chairman. ‘As the national trade association representing the real estate finance industry, we will bring together industry experts to take a comprehensive look at the current state and ongoing evolution of residential mortgage servicing and make recommendations for the future.’
The council will convene a one-day summit on Jan.19, 2011, in Washington, D.C.Â Titled ‘MBA's Summit on Residential Mortgage Servicing for the 21st Century,’ the summit will bring together industry leaders, consumer advocates, economists, academics and policy-makers.
‘The summit will serve as a forum for thoughtful, knowledgeable discussion around how residential mortgage loan servicing should be done in the future,’ says Still.
SOURCE: Mortgage Bankers Association