The Mortgage Bankers Association (MBA) and the National Housing Conference (NHC) have raised concerns about the rapid implementation timeline for servicers to comply with the Vendor Authority Servicing Platform (VASP) program. The industry experts argue that the timeline is too short for servicers to fully understand and implement the necessary changes.
Key points:
– MBA and NHC express concerns over the implementation timeline for VASP program
– Servicers may struggle to meet deadlines for compliance
– Industry experts call for more time to fully comprehend and implement program requirements
– Rapid timeline could potentially impact the effectiveness of the VASP program in improving mortgage servicing practices.
You can read this full article at: https://www.housingwire.com/articles/trade-groups-express-concerns-on-va-timeline-for-defaulted-loan-purchase-program/(subscription required)
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