DS News

10 Heather Rogers was recently elected as Davidson Fink's first female partner. Rogers joined the firm in May 2003 where she focused on commercial and residential real estate, and managed the day-to-day operations of the Default Department, which she has continued to do for over 16 years. Rogers is a past Chair of the then approximately 4,900-member Real Property Law Section (RPLS) of the New York State Bar Association (NYSBA), and is still involved with the Executive Committee of the RPLS as the Co-Chair of the Real Estate Finance Committee. She has also served on the board as the Section Vice-Chair and Section Secretary. Rogers was selected as a Super Lawyer for the past nine years and is also a Fellow of the American College of Mortgage Attorneys. She recently spoke to DS News on how the industry is impacted by the drop in foreclo- sures, what natural disasters have done to the market, and how she plans to move forward as the firm's newest Managing Partner. WHAT ARE SOME OF THE BIGGEST CHALLENGES FACING THE DEFAULT SERVICING SECTOR IN TODAY'S MARKET? e current biggest challenge facing the market from the attorney side is the decrease in foreclosures. We have to maintain the practice with less work coming in, as well as an increase in pressure to invest in technology, security, and staffing. Many firms are struggling to maintain this level. We are also seeing a lot of movement in the industry to smaller, newer servicers, and with others, merging, closing, and selling off their portfolios. Keeping up with this is difficult from all sides. WHAT ARE SOME INDUSTRY TRENDS THAT ARE YOU ARE LOOKING OUT FOR AS 2020 APPROACHES? It appears we may be looking at a baby recession at the end of 2019, so we need to be ready for that. Some of the other trends I see are how to increase efficiency without losing quality, technology improvements, and security issues. BLACK KNIGHT REPORTED THE MORTGAGE DELINQUENCY RATE INCREASED 11% FOR JUNE. WHAT CAN BE DONE TO HELP BORROWERS AT RISK OF DELINQUENCY AND FORECLOSURE? First, the dissemination of information to borrowers is key. In New York, we send numerous notices to borrowers prior to commencing a foreclosure, but those notices come from the very entity that these folks are in fear of (lenders/servicers and their attorneys). Many times, the message is lost. More needs to be done to present this information as being from someone "on their side." e message will be better received and hopefully better utilized. Second, I think that lenders and servicers need to be more flexible in settlement and be given the power to think outside the box. We often run into a case where the solution is easy, but because it doesn't fit inside a neat box, the answer is "no." While I understand investor guidelines and the need to streamline processes, it can be frustrating and difficult to explain to opposing counsel and the court. In fact, it is often the threat of the court that may finally force a lender to proceed with an outside-the-box solution. Finally, many lenders' attorneys take the position that the borrower and their counsel are the enemy. I have never operated that way and try to take a more collaborative approach while still zealously representing our clients. Foreclosure isn't good for anyone, including our own clients. Working together to come up with a solution that works for all parties should be the goal, if possible. WHAT DOES IT MEAN TO YOU TO BE NAMED THE FIRST FEMALE MANAGING PARTNER FOR DAVIDSON FINK? Of course it is quite an honor that my partners deemed me worthy of the position. I've been running the day-to-day operations of the firm's Default Practice for over 16 years, and it was a good learning experience and proving ground for the larger job. I have spent most of my career as one of, if not the only, female attorney "I worked hard, got involved, spoke up, and took advantage of the opportunities that came my way. I asked questions, I learned. No excuses, no free ride." COUNSEL'S CORNER LEARNING LESSONS FROM DIVERSE COURT CASES Heather Rogers Managing Partner, Davidson Fink LLP

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