DS News

4 62 70 10 This Month FROM OUR DESK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 DS JOURNAL Fannie, Freddie, and Borrower Debt; Removing Barriers in Foreclosure Documentation; e Issue With Modern Robocalls; 5 Ways to Bridge the Racial Homeownership Gap; Consolidation and the Value of Bank Debt; Americans Continue to Bet on Real Estate Investment; When Homes Are Impacted by Flooding; Addressing Manufactured Housing's Appraisal Needs; Freddie Mac's Non- Performing Loans; Goldman Sachs Fulfills MBS Settlement Obligations; Home Home Insurance Is Weathering the Storms . . . . . . . . 5 COUNSEL'S CORNER . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 MOVERS AND SHAKERS. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 FIVE MINUTES WITH . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 ASK THE ECONOMIST . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 STATE OF AFFAIRS Impactful local market information at your fingertips . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74 COVER STORY PARTS OF A WHOLE How are default servicers reducing friction and strengthening their networks? . . . . . . . . 56 By Seth Welborn INDUSTRY INSIGHT SERVICING SUCCESS, ONE STEP AT A TIME In a low-default environment, what can banks and financial services firms do to save costs and remain efficient? . . . . . . . . . . . . . . . . . . . 62 By Courtney ompson INDUSTRY INSIGHT RIDING OUT THE STORM With ever-improving technology, servicers should be aware of the tools at hand to guide and improve industry outreach and response in the event of a natural disaster. . . . . . . . . . . . 66 By Ray Brousseau INDUSTRY INSIGHT BETTER DATA, STRONGER PERFORMANCE Based on surveys of servicer needs, here's how Freddie Mac is working with its industry partners to improve processes and better server American homeowners. . . . . . 70 By Ken Burke CONTRIBUTORS RAY BROUSSEAU is President of Carrington Mortgage Services LLC. He oversees all as- pects of Carrington's lending and servicing divisions. Under his leadership, Carrington's full-service mortgage-lending business with wholesale, retail, and centralized sales and operations has experienced unprecedented growth and operational results. Brous- seau has nearly 30 years' experience in the mortgage-banking and consumer-finance industry, including more than two dozen years with CitiGroup's consumer-finance business. KEN BURKE is VP of Servicing Operations in the Single-Family Strategic Delivery, Data, and Operations division of Freddie Mac. Burke leads a team that includes Investor Reporting, Default Fees and Claims, Nonperforming Loan Management, and Homesteps/REO. ARCHANA PRADAN holds the title of Senior Professional Economist for CoreLogic in the Office of the Chief Economist and is responsible for analyzing housing and mortgage markets trends. Before joining CoreLogic, she was a senior research analyst at the National Community Reinvestment Coalition. COURTNEY THOMPSON is the SVP and Director of Default Servicing Operations for Flagstar Bank. ompson is responsible for all con- sumer default assets at Flagstar, including default call center and the design and opera- tion of Flagstar Bank's component default servicing oversight model—including the management of the specialty servicing vendor partners as well as Flagstar's cross- functional oversight team. SETH WELBORN is a contributing writer for DS News. He is a Harding University graduate with a degree in English and a minor in writing, and has studied abroad in Athens, Greece. An East Texas native, he also works part-time as a photographer. Join the Conversation Do you have a suggestion, story idea, or some feedback you'd like to share with DS News readers? Help shape our next issue by emailing Editor@DSNews.com. J U L Y 2 0 1 9 C o n t e n t s D S N E W S . C O M 20 56 MORE THAN THE SUM OF ITS PARTS

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