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

  • Workstream 5, Servicing Compensation Meeting on November 30, 2018

    On November 30, thirteen members of the Mortgage Servicing Collaborative convened for a subcommittee meeting on servicing compensation as part of work stream 5. HFPC staff noted that we do not expect consensus from MSC members on a single option or solution to address servicing compensation.  It was reiterated that HFPC’s goal is to lay out the history of the debate and outline the options for addressing concerns with servicing compensation. There was broad subcommittee agreement that there is a high cost and burden to servicing non-performing loans. There was concern raised by subcommittee members that the mortgage servicing industry is not building enough capacity to handle the next economic downturn.

    There are several options HFPC will examine with subcommittee members to address servicing compensation:

    1. Status quo or leave the system as is
    2. (a).  Fee for service, paid for by guarantors
    3. (b).  Fee for service, paid for by insurance fund
    4. (a).  Central utility for NPLs, paid for by loan guarantors
    5. (b).  Central utility for NPLs, paid for by insurance fund

    The next step is to develop a framework, based on the above options, for further MSC member discussion.

    Research Areas Housing finance
    Policy Centers Housing Finance Policy Center