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33 » VISIT US ONLINE @ DSNEWS.COM ing possibly more error in the court system and more appeals." Tromberg explained that she has also seen servicers and attorneys facing issues arising from a lack of due diligence on past foreclosures ef- forts, problems which then resurface should an- other foreclosure attempt be initiated on down the line. "We see cases where modifications were not properly recorded or properly transferred from servicer to servicer. Or perhaps they were properly implemented, but the paperwork isn't there to establish what happened." is gives op- posing counsel more ammunition when it comes to making their case before the courts. Tromberg emphasized that vigilance and attention to detail can mean the difference between success and severe headaches. "ere's a big push in the industry to not spend money on things like title reports, but that can result in insufficient reports. If we don't put our best resources toward these things, it's going to cost the borrower in the long run anyway, because we're not going to have what we need to foreclose properly." is level of diligence, Tromberg said, is especially important in cases where there have been multiple defaults in the past. "It's difficult to proceed on a new case if you don't know the terms of the last one." "Stay focused on the work in front of you, and keep a sharp eye on the future," said Robyn Padgett, Chief Development Officer for Padgett Law Group's Atlanta, Georgia office. "Making the time for strategic planning takes discipline, but without the ability to see the forest through the trees, you can lose sight of potential development opportunities and efficiency gains." THE TWO C'S Whether it's interacting with borrowers, the court system, or government agencies such as the BCFP, the partnership between servicers and financial services attorneys can only thrive if the Two C's are properly maintained: com- munication and collaboration. e latter can't happen effectively without the former; the former will inevitably be strengthened by the latter. Of course, figuring out the best ways to keep those Two C's attended to is the billion- dollar question, and one that requires an ongo- ing commitment to regular and honest critical examination. "Every loan is different and unique," Ansell said. "ere are unique challenges in every jurisdiction around the country. Having those lines of communication open for all parties minimizes the amount of delay that unique issues will create." Neil Sherman, Managing Partner, Schnei- derman & Sherman, suggests that the current low-default environment may have actually hurt the level of communication between servicers and their partner firms. "e lines of commu- nication within the industry haven't needed to be as direct as they were when we were in the Great Recession," Sherman said. "We need to rebuild those channels and make sure that they are sound and in good shape across the entire industry, from technology vendors to legal pro- fessionals to the servicers to the investors." Robert Forster, Managing Partner, BDF Law Group, stresses that this ongoing commu- nication between servicers and attorneys needs to be about more than just the daily exchange of necessary information. "I am talking about comprehending and understanding each other's objectives," Forster explained. "If you are fortunate enough to accomplish this, it not only makes working for that client more enjoyable, it also equates to greater efficiency and results." Managing attorneys, in particular, needed to be involved in all significant communications with their servicer clients, according to Richard Solomon, Managing Attorney for Cohn, Goldberg & Deutsch. "Clients hire law firms not only to provide the routine, day-to-day pro- cessing actions required for foreclosures or other mortgage-default actions but also to provide legal advice." He added that firms should be proactive in communicating with clients when they see relevant issues on the horizon, rather than waiting for clients to solicit that advice. e good news is, the current low-volume environment can afford industry professionals a chance to reexamine both internal procedures and the ways in which they communicate with their partners. "We can take advantage of times when vol- umes are down to do an in-depth analysis to see where the process is slowing down or creating choke points, and then attacking those issues systematically," Ansell explained. Ironically, sometimes the tools designed to help grease the wheels of communication and collaboration can have unexpected or even adverse effects. Diaz emphasized the importance of the "personal touch" when it comes to servicer- "The lines of communication within the industry haven't needed to be as direct as they were when we were in the Great Recession. We need to rebuild those channels and make sure that they are sound and in good shape across the entire industry, from technology vendors to legal professionals to the servicers to the investors." —Neil Sherman, Managing Partner, Schneiderman & Sherman