PROJECTThe Mortgage Servicing Collaborative

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  • May 2, Full collaborative meeting
  • June 14, Government programs work stream meeting
  • July 18, Data working group meeting
  • July 24, Collaborative advisory meeting
  • August 30, Data working group meeting
  • August 31, Full collaborative briefing
  • September 25, Loss mitigation and modification experience work stream meeting
  • October 19, Consumer advisors meetings
  • December 19, 2017, Full collaborative meeting
  • January 25, 2018, Monthly member briefing
  • February 22, 2018, Monthly member briefing
  • March 22, 2018, Monthly member briefing
  • April 10, Standards working group meeting
  • April 26, 2018, Monthly member briefing
  • May 24, 2018, Monthly member briefing
  • June 19, 2018 Full Collaborative Meeting
  • July 26, Monthly member briefing
  • August 23, Monthly member briefing
  • September 18, Work Stream 5 Meeting
  • September 27, Monthly member briefing
  • October 25, MSC Government Advisors meeting
  • November 1, Monthly member briefing
  • Workstream 5, non-performing loans meeting on November 27, 2018
  • Workstream 5, Servicing Compensation Meeting on November 30, 2018
  • Summary of December MSC Convening December 6, 2018
  • MSC News Coverage

  • June 14, Government programs work stream meeting

    At this meeting, approximately 20 MSC members spent two hours discussing the FHA foreclosure and conveyance processes, loss mitigation/loan modification structures, and data collection procedures. Several ideas for revamping the FHA conveyance model were discussed. There was also consensus that a streamlined process that is standardized across the industry, easily understood, updated regularly, consistent and transparent would serve the entire industry and consumers well and should be explored. Members also discussed the need for more flexible loss mitigation and loan modification options for all government loans and why the riskiest borrowers have the fewest options available.  It was also noted that in a rising interest rate environment, the suite of modification options for government loans will become a challenge that needs to be addressed.

    Next steps:     

    • Form a data working group to evaluate what data is needed for analysis and what the data ask should be to MSC members. 
    • Compare FHA, GSE and VA conveyance models to determine best practices and potential for uniformity in conveyance requirements.
    • Examine whether aligning the FHA foreclosure timeline with the GSE’s single timeline could create a single process that is standardized and applies across all agencies.
    • Continue intake from MSC members on loss mitigation and loan modification options for all government loans.
    Research Areas Housing finance
    Policy Centers Housing Finance Policy Center