By Eric Wilson
Next week, some members of the team and I will travel to Miami for the Mortgage Bankers Association’s Commercial/Multifamily Servicing & Technology Conference. I’m excited about the show because we’ll be talking to servicers about our RETS, Real Estate Tax Service, offering among other things.
I recently shared with the MBA four topics I expect to be widely discussed at the upcoming show. That post will appear in your MBA Newslink email this week. But here, I just want to focus on one of these topics: dealing with increasing complexity in the servicing business.
A complex business simplified
One key to success in this or any business is to create routines that are optimized for success. It really comes down to process. But when you’re industry and the regulatory oversight that goes with it are changing so rapidly, it can be hard to come up with processes that you know will always work.
That’s why I expect one of the hottest topics at the upcoming show will focus on how servicers can deal with the complex business of servicing commercial loans. There will be a session at the upcoming show that deals with this and I’m really looking forward to it. But this will factor in heavily in the discussions we have with clients and prospects at the show.
Commercial mortgage services are struggling to manage properties in their portfolios that are subject to multiple overlapping taxing jurisdictions. Tracking and updating taxes for multiple parcels spread across multiple locations in multiple jurisdictions is much more common today and it carries serious risk for the servicer that gets it wrong.
I’m excited to share how RETS simplifies this work for the servicer at the upcoming conference. If you’re planning on being there, drop me a line. I would love to meet you at the show.
About the author:
Eric Wilson, a mortgage industry veteran with over 20 years of experience, serves as Senior Vice President Business Leader – Mortgage for SLK Global. He can be reached at firstname.lastname@example.org