Source: DS News, Slashing Through The Servicer Jungle
Sean Ryan discusses problems with the current default servicing model and argues that implementing a property-servicing platform that complements loan servicing while focusing on the asset rather than the loan allows servicers/asset owners to manage nonperforming loans effectively. Here is an excerpt:
“A February 2018 Urban Institute report … found that a single defaulted loan can suck the profits from 12 performing loans. This is a fundamental problem facing the industry…
Property servicing uses a single platform for property-related data that drives efficiencies, reduces leakage, enables compliance, and ultimately leads to a smooth, normalized default servicing capability and management.”
