OpinionIndustry News

Now’s the time for bridge-building

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

The problem of delinquent mortgage loans is having a negative impact on communities nationwide. Those in the mortgage and real estate industries are struggling to find answers before the problem grows significantly worse. As a member of the real estate industry and as someone trying hard to work with the mortgage industry, it's clear to me that we both need to get better at working together. We need to replace the current environment of mistrust and acrimony with one of cooperation and common purpose. Obstacles such as unrealistic workloads for loss-mitigation specialists as well as sloppy work by agents and unethical conduct related to illegitimate short-sale files need to be addressed. The friction between lenders and brokers as each works to find answers for delinquent loans typically occurs in the course of working through a proposed short sale. A short sale is not the answer for all borrowers, but some simply can't make their mortgage payments and will need to use thi...