DS News

2 Keeping the Industry Flowing Some four months into the COVID-19 outbreak here in America, the mortgage industry— like every other part of the world—continues to adapt to what has become, at least for now, the "new normal." With social distancing requirements fundamentally altering or even shutting down many offices, mortgage companies have had to reexamine everything from tech to workforce policies in order to ensure business continuity and maintain their commitment to quality service. In our July cover story, "Remote Control," we discuss how work culture has changed drastically over the past several months, impacting almost every aspect of the industry's business. DS News spoke to mortgage servicing industry leaders from AHP Servicing, Carrington Holding Company, Fairway Independent Mortgage Corp., Home Point Financial Corp., Mr. Cooper Group, RoundPoint Mortgage Servicing Corp., and more about how they've changed the shape of their day-to-day workflows and met the needs of their team members in this trying time. With foreclosures being put on hold, many expect a delinquency surge to hit soon. In "Post- Moratorium Planning Begins Now," Allen Price, SVP of Sales and Business Development for BSI Financial Services, shares how servicers should prepare for the oncoming wave. COVID-19 has also brought regulatory changes across the board. In "Is Your Program CARES Act Compliant?" omas Grundy, Senior Director, U.S. Advisory Services at Wolters Kluwer, outlines how the CARES Act impacts mortgage servicers, discussing the choices available for consumers and what servicers need to know. In "A Multimillion-Dollar Misconception?" Baker Breedlove, General Counsel for Insight One Solutions, covers the FHA claim conveyance timeline and addresses some possible misunderstandings regarding repayments. Finally, in "Effective Foreclosure Prevention in a Crisis," Daren Blomquist, VP of Market Economics at Auction.com, asks what lessons from Great Recession foreclosure and home price data can be applied to more recent market trauma? Welcome to the July edition of DS News. David Wharton Managing Editor VOL. 18 NO. 7 EDITOR-IN-CHIEF Rachel Williams MANAGING EDITOR David Wharton EXECUTIVE CREATIVE DIRECTOR Jonathon Won REPORTERS Mike Albanese Seth Welborn CONTRIBUTORS Daren Blomquist Baker Breedlove Thomas Grundy Mabél Guzmán Brian Merfeld Marcos Posada Allen Price ONLINE CONTRIBUTORS Krista Franks Brock Chuck Green 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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