In the years since the housing crisis we've made important strides in making the servicing industry stronger, more efficient and better able to help struggling borrowers. Now we're working to prepare for a new future in servicing, or a "new normal" as we like to call it at Freddie Mac, since we expect the post–crisis servicing model of the future, 2017 and beyond, to look very different than it does today. In doing so, it's valuable to take a look at the lessons we learned during the crisis.
While there was a lot of trial and error over the last seven years, we learned there were 5 major factors for successful loss mitigation:
VP Yvette Gilmore discusses these and mortgage servicing's "new normal" in Executive Perspectives.
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