DS News

2 Staying Afloat in Stormy Seas Two months into our "Great Pause" of social distancing, remote working, and all the other myriad changes that COVID-19 brought with it, the challenges of the pandemic continue to dominate the news cycle and our daily lives. States have gradually begun opening up, even as many questions remain about what our "new normal" may look like in the months ahead. Regardless of how close to our old lives we may eventually get, there's no question that the mortgage servicing industry will be dealing with the legacy of the coronavirus for some time to come. In our June cover story, "e Oncoming Tsunami," we dive into how increasing forbearance rates are challenging servicers to keep up with concerns ranging from compliance to staffing to the use of subservicers. Read on for comments from Bayview Loan Servicing, BSI Financial Services, Flagstar Bank, RoundPoint Mortgage Servicing, ServiceMac, and more. In "Lines of Communication," DS News spoke with the executive team at Safeguard Properties about the critical nature of communication, and how the industry is managing the pandemic. Next up, in "e Democratization of Distressed Property Buyers," Auction.com's VP of Market Economics, Daren Blomquist, discussed why a broader pool of foreclosure buyers means steady demand—even in stormy markets. In "Disaster Response During a Challenging Summer," Mark L. Stockton, founder of Disaster Relief, LLC, explains why strategically managing natural disaster response will be difficult this summer, and why the IRS casualty loss program may have a critical part to play. Finally, be sure to check out our special Legal Update section for a breakdown of important developments related to COVID-19 and the rapidly changing lay of the land for the mortgage industry. Welcome to the June 2020 edition of DS News. David Wharton Managing Editor VOL. 18 NO. 6 EDITOR-IN-CHIEF Rachel Williams MANAGING EDITOR David Wharton EXECUTIVE CREATIVE DIRECTOR Jonathon Won REPORTERS Mike Albanese Seth Welborn CONTRIBUTORS Daren Blomquist Andrew Boylan Phil Britt Kristine D. Brown Adam Diaz Adam Gross Brandon Hakari Lauren Riddick Holly R. Shilliday Mark L. Stockton Stephen Vargas David Wharton ONLINE CONTRIBUTORS Krista Franks Brock Andy Beth Miller COPY EDITOR Brandy Scott ADVERTISING Kevin McCrea: 214.525.6756 2020 EDITORIAL ADVISORY BOARD Dawn Adams, SVP, Default Servicing, Roundpoint Mortgage Servicing Tendayi Kapfidze, Chief Economist, LendingTree Courtney Thompson, Director, Default Servicing Operations Jacob Williamson, VP, Distressed Assets, Fannie Mae Kim Yowell, EVP of Servicing, Fairway Independent Mortgage Corporation PRESIDENT AND CHIEF EXECUTIVE OFFICER Ed Delgado CHIEF FINANCIAL OFFICER Jonathan Hughes DESIGN Jordan Funderburk Jason Stone Sean Walker Jonathon Won No part of this publication may be reproduced without written permission from the publisher. ©2020 Five Star Global, LLC—All Rights Reserved This publication is intended to provide accurate, authoritative, and detailed information in regard to the subject matter covered. All written materials are disseminated with the understanding that the publisher is not engaged in rendering legal advice or other professional services. Under no circumstance should the information contained herein be relied upon as legal advice as it is designed to be a source of information only. DS News strongly encourages the use of qualified attorneys or other qualified experts with regard to the subject matter covered. DS News does not guarantee the accuracy of the information, and is not liable for any damages, losses, or other detriments that may result from the use of these materials. Follow DSNewsDaily on From Our Desk

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