On August 11, a multidisciplinary group of Alston & Bird lawyers hosted the webinar “The Impact of COVID-19 on Mortgage Servicing Rights and Servicing Advances.” Participants were Karen Gelernt and Katrina Llanes, Finance practice partners; Matthew Mamak, Corporate Transactions and Securities practice partner; and Nanci Weissgold, Financial Services & Products practice partner.
The webinar addressed the impact of COVID-19 on servicers generally, focusing on servicing rights, servicing advances, implications of the CARES Act, and forbearance moratoriums. Additional topics included: (1) the approaches of Ginnie Mae, Fannie Mae and Freddie Mac to financing servicing advances, and servicing rights; (2) industry consolidation; and (3) how M&A transactions in this sector will need to address additional concerns arising from changes brought about by COVID-19 and the government responses to the pandemic and resulting economic stressors.
Please click here to listen to the playback and here to view the presentation.