Altisource Releases Report on the State of the Servicer Industry
With the general decline in inventory over the past five years, servicers are expressing interest in working with larger service providers who offer end-to-end capabilities. According to the study, when evaluating a vendor to manage their default portfolio, a majority of servicing professionals surveyed consider end-to-end default disposition (93 percent) and REO asset management (93 percent) capabilities important.
Of the servicing professionals surveyed, 86 percent cited that their organization currently services FHA loans. Nearly three-quarters (72 percent) expect their FHA loan portfolio to increase over the next 12 to 24 months and 77 percent expect the increase to be more than 25 percent. While FHA loan delinquency rates remain low, servicers need to be prepared to handle these delinquencies. Servicing professionals (73 percent) cited using a third-party vendor as part of their CWCOT program management. When asked what factors are important when choosing a CWCOT vendor, 91 percent of those surveyed said end-to-end capabilities/outside services (i.e. closing, valuation, title curative).
“Based on the survey results, recent economic indicators suggest that the housing market is approaching an inflection point,” said
Click here to download the full report, “The State of the Servicer Industry.”
Michelle D. Esterman
Chief Financial Officer
Britt E. Gottlieb
Senior Manager, Communications
Source: Altisource Portfolio Solutions S.A.