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From the Editor's Desk
Dear DS News readers,
It is not often that I am compelled to introduce a story that you are about to read.
However, this month's cover story, "FHA's Timely IT Modernization" deserves a prelude
to frame both its significance for our industry and the broader lessons that the system at
large can learn.
At times, government processes are synonymous with "slow-moving" and "behind the
times." But Brian Montgomery has defined his time as FHA Commissioner and now in
the role of Deputy Secretary with a focus on the modernization of FHA. e execution
of this bold plan most critically involved hearing from all stakeholders to determine what
worked, what did not work, and what path this modernization should take.
I had the privilege of witnessing this collaboration first-hand when I took part in
a meeting held at HUD offices with members of the National Mortgage Servicing
Association. is meeting was spear headed by Five Star Global's Ed Delgado, who
paved the way for discussions between the membership and HUD officials on topics like
CWCOT improvements, loss mitigation reforms, and conveyance challenges.
Time and again, I saw a true exchange of ideas and dialogue that heralded a new
age in FHA—one where processes met the day-to-day challenges of real practitioners
and the needs of the American homeowner. It was during this meeting that I first
had the opportunity to hear Deputy Secretary Montgomery discuss the push toward
modernization that FHA was prioritizing.
2020 has presented our business with unprecedented challenges. But even in normal
times, the viability and dynamism of our industry is one of the most critical variables that
underpins our economy. e modernization of FHA will both maximize the efficiency of
the market in the good times, and best prepare it for the unforeseeable challenges that lie
in our future.
I hope you enjoy reading this exclusive article, as much as we enjoyed making it
possible.
Sincerely,
Rachel Williams
Editor-in-Chief
DS News
