April 10, Standards working group meeting
On April 10, 2018, twenty members of the Urban Institute’s Mortgage Servicing Collaborative participated in a work stream meeting focused on standards that are misaligned and that may negatively impact consumers in the mortgage servicing process. Members of the work stream heard a presentation from an MSC member on the work of the Mortgage Bankers Association in this same area. Work stream members suggested that the MBA and Urban Institute work streams be complimentary where possible but also recognized that they may, and probably will, have different focus areas as part of their objectives. Work stream members agreed that Urban’s focus will be on 3-5 concrete areas of misalignment in servicing policy across federal agencies, diagnose of those problems, and identification of solutions or recommendations to harmonize or address them.
Next steps: This work stream will convene again sometime in May.