You may not have heard the terms “dual pathing” or “single point of contact” lately, but just wait. COVID-era forbearances are ending and odds are some borrowers won’t be able to come current on their loans without help. HousingWire recently spoke to Amanda Phillips, executive vice president of compliance at ACES Quality Management, about getting servicing staff and technology ready to meet upcoming regulatory requirements while ensuring quality throughout the life of the loan.
Questions addressed in the interview:
- As financial institutions plan for 2023, what is their best line of defense in maintaining loan quality and mitigating risk?
- How can lenders keep up with evolving servicing regulations, and what trends do you expect to see this year from a servicing perspective?
- How can servicers set their departments up for success regardless of the current market trend?
- What is your top advice for lenders that have neglected quality control?