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4 60 64 14 This Month FROM OUR DESK . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 DS JOURNAL Could Recession Hit Before 2020 Presidential Election?; Homes in Negative Equity at Nine-Year Low; Can Mortgage- Backed Securities Survive Natural Disasters?; Tracking Housing Bubbles; Industry Applauds Nomination of Brian Montgomery as HUD Deputy Secretary; Rebuilding: A Year After Hurricane Michael; CFPB Finalizes Update to Home Mortgage Disclosure Act; Tracking Home Flipping; Earthquake Insurance on Shaky Ground; Technology's Role in Dealing With Disasters; e Homeownership Gap Widens . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 FIVE MINUTES WITH. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 MOVERS AND SHAKERS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 COUNSEL'S CORNER. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 ASK THE ECONOMIST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26 STATE OF AFFAIRS Impactful local market information at your fingertips . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 76 COVER STORY KEEPING IT ALL TOGETHER e property preservation landscape is changing. Here's how the industry is working to maintain its balance. . . . . . . . . . . . 56 By Seth Welborn INDUSTRY INSIGHT PUTTING INSPECTIONS UNDER THE MICROSCOPE e inspections process can sometimes feel more like art than science. Here's why it remains a critical aspect of property preservation. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60 By Matt Jones INDUSTRY INSIGHT POISED FOR GROWTH ere are many factors to consider when outsourcing property preservation data entry and auditing. Here are six key advantages.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 64 By Mit Somaiya INDUSTRY INSIGHT REPAIRING FOR RETURNS Learn how to invest in the renovations that will give you the best ROI and make your property the first off the market. . . . . . . . . . . . 68 By Alyssa Sprague INDUSTRY INSIGHT JUNIOR LIENHOLDERS: CLAIM YOUR SURPLUS FUNDS New laws could complicate the foreclosure sales process moving forward.. . . . . . . . . . . . . . . 72 By Nicholas J. Vanhook and Jane E. Bond Contributors MOLLY BOESEL is a Principal Economist for CoreLogic in the Office of the Chief Economist and is responsible for analyzing and forecasting housing and mortgage market trends. JANE E. BOND, Managing Partner for Florida Litigation at McCalla Raymer Leibert Pierce, LLC, has 30 years' litigation experi- ence, with 24 years specifically devoted to business and real estate litigation involving mortgage lending and servicing. Handling both commercial and residential litigation, Bond also teaches at training seminars, conferences, and continuing legal education courses. MATT JONES is AVP of Operations for Mort- gage Contracting Services LLC (MCS), a nationwide provider of property preserva- tion, inspections, and REO property main- tenance to the financial services industry. In his role, Jones manages the Inspection Team, while also developing processes and providing reporting. MIT SOMAIYA is VP of Offshore Property Preservation Services for IMS People. A business graduate from EBS Business School in Germany, he has a rich experience consulting social business in Europe and Asia. For the Offshore Property Preserva- tion division at IMS People, Somaiya is responsible for foraying into the USA REO market, making allied partnerships, and overseeing operations to ensure quality services to clients. ALYSSA SPRAGUE is Senior Account Executive at Property Masters, Inc. where she assists in the daily management and organization of home renovations for Property Masters' single-family investor and REO clientele. She also holds the role of President of the inaugural ink Tank council at Property Masters. She strongly believes that in a group effort, ideas can be exponentially expanded with positive encouragement to produce the best possible outcomes. NICHOLAS J. VANHOOK is a Partner at McCalla Raymer Leibert Pierce, LLC, and joined the firm in 2010. An experienced litigator, Vanhook uses his knowledge to find creative ways to resolve issues for mortgage servicers. Vanhook received his Juris Doctorate from the Levin College of Law at the University of Florida. SETH WELBORN is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. 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. N O V E M B E R 2 0 1 9 C o n t e n t s D S N E W S . C O M 20 56 WEIGHT OF THE WORLD

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