Clarifire Conversations

April 18, 2017

What to Expect for the Future of Loss Mitigation

The outlook for the mortgage industry, including the future of loss mitigation, was the background for the Five Star’s recent Government Forum in Washington DC.  Keynote speakers and panelists enlightened attendees on what to expect from rising interest rates, declining housing inventory, the quest to attract millennials, all the while managing to a purchase-centric market.  Afternoon panel discussions focused on servicing specific scenarios to include what’s next for loss mitigation and the challenge of property preservation.

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April 12, 2017

Mobilization in the Mortgage Industry

The Mortgage Bankers Association convened its 2017 National Technology in Mortgage Banking Conference & Expo in Chicago on March 26 – 29, 2017.  Participants discussed the evolving role of technology in the mortgage space. The timely conversation comes as the National Association of Realtors’ 2017 Home Buyer and Seller Generational Trends recently reported Millennials make up the largest share of homebuyers at 34%, with 92% of them turning to online resources to conduct their home searches.

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February 24, 2017

Will the Return of the RMBS Market Impact Defaults?

As everyone attending the MBA National Mortgage Servicing Conference & Expo returns to their desks, we look at the continued uncertainty of the Residential Mortgage Backed Security market (RMBS). What looks like a comeback for 2017, based on rising interest rates, may be temporarily stalled as the Federal Open Market Committee decided to keep the Fed Funds rate at 0.75 percent at the January 31-February 1 FOMC meeting. Although not an unforeseen outcome, it causes the market to lose confidence in the Fed’s publicized goal to impose three quarter-point increases in 2017 if unemployment and inflation remain under control.

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January 31, 2017

Post HAMP Modification Guidance Swells

The end of 2016 heralded in extensive regulatory guidance on loan modification alternatives to the Home Affordable Mortgage Program (HAMP).   Established by the US Department of the Treasury (DOT) in 2009 in an effort to standardize mortgage modifications, HAMP was retired on December 31, 2016 after providing nearly $10.5 million in consumer relief necessitated in response to the financial crisis.  The sunset of this first and largest loan modification program is an important landmark for the mortgage industry, but will place additional stress on already scrutinized servicer and investor loss mitigation processes.

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January 10, 2017

Top 5 Trends for Success in the Financial Services Market

Late last year, at the Mortgage Bankers Association Annual Conference and Expo, attendees were asked, “What is most important in moving our industry forward?”.  There were 5 clear trending topics from the answers received, with each item having its unique impact on the industry and your organization.

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January 05, 2017

Business Resolutions to Boost Your Success in the New Year

The start of a new year symbolically represents a restart or clean slate to make this year the best year yet.  We make resolutions to set our path for success and to create accountability.  We join a gym to exercise more, buy fruits and vegetables to eat healthier, and create budgets to spend less.  We focus our efforts on creating a new you in the New Year.  Have you ever thought to create New Year’s resolutions for your organization?  Just as we set up ourselves for success in the New Year, we should do the same in business.  Here are a few resolutions to consider to help make this the best year yet for your organization.

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December 28, 2016

4 Things to Avoid When Selecting a Rounding Solution

The Healthcare industry has been advancing quickly into the digital age. Having a mobile strategy is just one part of it.  With the introduction of electronic medical record systems and the ongoing integration of technology into the continuum of care, there has been an explosion of software and hardware products and solutions.  Along with that, comes the dreaded task of selecting the “right” tool for the job.  The options that are available range from the simple to the complex, free to costly and innovative and modern  to established.  The task can quickly become overwhelming.

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October 06, 2016

Short Term Lenders To Be Governed by CFPB Regulation

Payday loans are at the top of the regulator “hot” list this year, with a recent proposed rule issued by the Consumer Financial Protection Bureau (CFPB) in late July.  The CFPB is working to create regulation that ensures the consumer’s ability-to-repay (ATR) and puts a stop to abusive and unfair practices in this area.  The growing number of consumers that gravitate to loans when they are short on liquid funds continues to rise, which has elicited regulator attention.  Due to extremely short loan terms, many of these products currently bypass regulator purview.  The CFPB’s rule redefines loans “covered” by oversight as those with terms of 45 days or less, or with multiple advances requiring repayment within 45 days.  The goal is to address payday loans, vehicle title loans and other high cost short-term loans.

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September 14, 2016

How Decision Management Drives Transformation Projects Webinar Recap

Our partners at Sapiens DECISION hosted a webinar on “How Decision Management Drives Transformation Projects,” with insights into the financial crisis and how technology transformation was required post-crisis and will continue to be required across all industries to help avoid a repeat of 2008.  The presenters included Kramer Reeves, VP of Product Marketing at Sapiens DECISION and Larry Goldberg, the evangelist for Sapiens DECISION.

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September 02, 2016

Welcome To Loss Mitigation Post HAMP

As the mortgage industry prepares to say goodbye to the Home Affordable Modification Program (HAMP), the largest Making Home Affordable (MHA) program, numerous regulators are issuing loss mitigation guidance to ensure post financial crisis accomplishments are not lost.  The US Department of Treasury released a white paper in collaboration with the US Department of Housing and Urban Development (HUD) and the Federal Housing Finance Agency (FHFA) that provides an in-depth look into the development of foreclosure alternatives, lessons learned and five guiding principles for the future of loss mitigation. The Consumer Financial Protection Bureau (CFPB) followed suit with a brief summary of their perspective on mortgage default, offering four guiding principles for post financial crisis servicing.

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