The housing market has been on a roller coaster for a few years now. How will mortgage servicing be impacted this year? PROGRESS in Lending Association took to finding that out in a sit-down with LoanCare’s Rodney Moss, EVP of Strategy and Business Development. They discussed what mortgage loan servicing trends we’ll see impact 2023 the most. Moss points folks in the home loan servicing industry to focus on how to keep up with the rise in HELOC loans, set immediate growth goals for further digitalization of the customer experience, see how to react to the imminent rise of mortgage loan rates, and more.
In this article you’ll learn more about the following five emerging trends to be the main aspects to keep our eyes on this year, as explained by Rodney Moss:
- Borrower Experience Will Continue to Improve
- HELOC Demand Will Rise
- MSR Market Will Remain Active
- Complete Data Transparency Will Grow in Importance
- Default Activity will be Closely Watched and Managed
Read the PROGRESS in Lending article here for some impactful and insightful information on the year ahead in mortgage loan servicing.