NASCUS Mortgage Symposium
Nov. 28
8:30 a.m. – 5 p.m.
Boston Marriott Newton Hotel
2345 Commonwealth Ave.
Newton, MA 02466.
A one-day training session providing a high-level overview on topics such as Real Estate Loan workflow, Fannie/Freddie as Investor/Servicer, the Business of Loan Servicing, Economics of Servicing, Servicing Components and Loss Mitigation. Cost is $250 for members, $300 for non-members
Contact: Isaida Woo, NASCUS VP/Education: isaida@nascus.org; 703-528-0796
AGENDA
(subject to change)
8:30 – 9:00 am
Arrival & Coffee
9:00 – 9:15 am
Greetings, Opening, Warm Up, Instructions
- PURPOSE: to build a conceptual understanding of these issues. Attendee will not be able to perform any of these or even have full understanding but will not be lost in a conversation about them.
9:15 – 10:15 am
Real Estate Loan workflow –Production, Secondary and Servicing
- Review the workflow of a loan – all of the steps a loan goes through
- What are the critical parts, and how do the steps interact with each other?
- Highlights on how the mortgage loan process is changing with the increase in automation and technology.
- An interactive discussion of the process and the risks, with opportunities for Q&A.
BREAK
10:30 –12:00 pm
Fannie/Freddie as investor/servicer
- How does selling through FHLB differ from selling through to Fannie/Freddie?
- Discussion of the MPF and MPP programs and the associated risks and rewards.
- Selling in the Secondary Market
- Servicing released vs. Servicing Retained
- Best effort
- Mandatory
- Fallout
- Pairing out of a commitment
- Pricing—Considering the MSR value
- Cash Window vs. MBS Delivery
- Common mistakes in best execution
- Speculation vs. coverage—Managing the Pipeline
- Adequately covered?
- Over covered?
- Consequences of fallout
- Consequences of over delivery
- Selling Seasoned loans individually or in bulk
- Management’s understanding of hedging and the risks.
12:00 – 1:00 pm
LUNCH
1:00 – 2:15 pm
The Business of Loan Servicing
- Method of handling servicing
- Subservicing
- Servicing
- Sale of servicing
- Economics of Servicing
- Servicing Components
- Board the loan
- Collect Payments—Periodic Statement requirements
- Record Payments
- Pay Taxes, Insurance, Escrows
- The Mechanics of PMI
- Remittance options - Actual vs Scheduled
- Investor Reporting
- Customer Service
- Mortgage Servicing Right Valuations
- Accounting and Reporting
- Pros and Cons of owning MSRs
- Necessary Due Diligence when outsourcing key functions
BREAK
2:30 – 3.00 pm
Risk Management
- Mortgage Fraud—trends and controls
- Quality Control
- The Secondary Market’s requirements
- Best Practices
3:00 – 4:00 pm
Loss Mitigation
- Delinquency
- Early Intervention
- Forced Placed Insurance
- Loan Modifications
- Foreclosure=--Judicial and Non-Judicial
- Forbearance
- Deed in Lieu
- Short Sale
- MERS
- What is the registry?
4:00 – 4:45 pm
Open Q & A and discussion
5:00 p.m.
Wrap up and departure
5/12/17