The number of regulations touching the mortgage servicing industry has grown significantly since 2008. That could be the reason more than 2,000 industry professionals registered for the MBA Servicing Conference in Orlando late last month.
Some attendees said this was the biggest MBA Servicing show they had seen in years
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By Mary York Cox, Account Supervisor at William Mills Agency
At last week’s Mortgage Bankers Association’s (MBA) National Mortgage Servicing Conference & Expo 2014, more than 1,200 industry leaders gathered in Orlando to discuss the road ahead for the servicing market. With servicing in a state of transition – largely due to a substantial increase in regulations and procedures – attendees were on the hunt for solutions and best practices to equip them for the future and adhere to new servicing rules.
William Mills Agency values the relationships we have cultivated with the financial trade media. As a PR firm, we are equally customers and media-centric and believe publications like Mortgage Banking magazine are vital for the success of our clients and the industry.
Janet Reilley Hewitt is editor-in-chief of Mortgage Banking magazine, one of the financial industry’s main sources for news, analysis and housing indices. Hewitt discusses the role of Mortgage Banking magazine in the industry and her role as editor-in-chief. Please note Hewitt only represents Mortgage Banking magazine and not the other MBA publications.
Last week the Mortgage Bankers Association (MBA) held its 100th Annual Convention and Expo in Washington, D.C. More than 4,000 attendees swarmed the Convention Center, split between lenders and vendors.
Fitting the D.C. setting, the dominant topic of the conference revolved around compliance and regulatory oversight. Many of the sessions, and most of the conversations we heard had at least some compliance angle. The topics ranged from meeting CFPB regulations in 2014 to understanding how to offer new products that would meet the requirements of investors and the GSEs.
However, all of the focus on compliance is producing a backlash. The president of MBA basically said enough is enough on the compliance and that any more is a risk to credit flowing. He also said 40% of home purchases last year were paid in cash.
