Perspectives by Jay A. Loeb: Mortgage Servicing News Bulletin. It seems lately that just about every time a government edict or regulatory requirement aimed at the mortgage sector comes rolling out of Washington, D.C., industry practitioners are left scratching their collective heads, wondering: "How are we going to comply?" It is not that these professionals - many with decades of experience and an honored sense of doing what's right - do not want to be good citizens and follow these directives. Often it is a case of not having the resources or necessary information to do so.  >

After years of growth in mortgage lending, credit unions now find themselves facing many of the same challenges that traditional banks have experienced, among them difficulty in reaching borrowers behind in repayments, or headed that way. For assistance, they are turning to third-party field service providers experienced in reaching borrowers who may be overwhelmed, embarrassed and avoiding the door, phone and mailbox. This "on-the-ground" human contact has become more vital, providing needed flexibility in assisting member-members.  >

We see it in the newspaper. We watch it on the news. The media frenzy over the housing crisis has created an all-too familiar issue in the minds of many Americans. These stories frequently describe the impact of the housing crisis on the economy and with it, - the government’s many modification, incentive and forbearance programs. With the U.S. government spending on incentives for mortgage servicing companies that reduce payments for troubled homeowners, as well as incentives for borrowers and investors, is it is no wonder lenders and borrowers are eager to find out how to get involved with the programs. And, one of those programs is HAMP, the Home Affordable Modification Program. >