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The “Ever-Changing” Struggle with Regulations

Rami Word, SVP, Performance Servicing, Mr. Cooper, said one of the biggest challenges they, and other mortgage servicers face, is staying in front of regulatory and investor requirements. 

“It’s ever-changing and everybody has their own spin on what they’re expecting,” Word said. 

She said while it is Mr. Cooper’s goal to “touch things with a broad brush,” they are always looking to see how they can better serve individual borrowers. 

Word also acknowledged the importance of being proactive when it comes to natural disasters and not be reactionary. 

“We’ve done a lot of work in the last couple of years of getting in front of that through communication, whether it’s call centers, or letters or email, or different types of modifications for those customers that are impacted,” she said.