DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
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2 Challenges Ahead: From Forbearances to Bankruptcies is month's edition of DS News features a conversation with Scott Gesell, CEO and General Counsel of Gateway First Bank. Before being appointed CEO last August, Gesell served as Chief Administrative Officer for the bank. During our cover story, he discusses how Gateway has worked to adapt to the challenges of both COVID-19 and the evolving needs of the mortgage servicing sector. Flip over to this piece to read about his insights into homeowner needs, managing infrastructure, and what his top goals are for 2021. Next up, Rick Sharga, EVP of RealtyTrac, brings us "Foreclosures 2021: Not the Great Recession 2.0, but a Critical Challenge for Default Servicers." In this piece, Sharga examines the challenges facing the industry as forbearances lapse and defaults increase. In "How to Respond When eNotes Default," Marcos Posada and Jane E. Bond of McCalla Raymer Leibert Pierce, LLC, explore why the rising volume of eNotes could be mirrored by a rising level of default enforcements. Our last feature of the month is "No FDCPA Harm, No FDCPA Foul" from Lauren Riddick of Codilis & Associates, P.C. She discusses recent opinions from the United States Court of Appeals for the Seventh Circuit regarding debt collections and "standing" under the Fair Debt Collection Practices Act. Finally, be sure to read our latest installment of the Exchange Q&A section, this month featuring an extended interview with Brad Geisen, CEO of BK Global. He provides insights into the state of the bankruptcy sector as we enter this new year. Welcome to the February 2021 edition of DS News. David Wharton Managing Editor VOL. 19 NO. 2 EDITOR-IN-CHIEF Rachel Williams EXECUTIVE CREATIVE DIRECTOR Jonathon Won MANAGING EDITOR David Wharton REPORTERS Christina Hughes Babb ONLINE CONTRIBUTORS Kristi Froehlich Chuck Green Phil Hall Andy Beth Miller CONTRIBUTORS Jane E. Bond Amy Daniel Marcos Posada Lauren Riddick Rick Sharga COPY EDITOR Brandy Scott ADVERTISING Sales: 214.525.6700 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 CHIEF EXECUTIVE OFFICER Todd Storch CHIEF FINANCIAL OFFICER Jonathan Hughes DESIGN Jordan Funderburk Jason Stone 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