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2 Charting a Course Into the Unknown As the path of the default servicing and mortgage finance industry over the past 24-plus months has taken several twists and turns during the time of COVID-19, the industry has been forced to adapt to a multitude of changes. Embracing technological advances to expedite processes and keep in touch with one another in the era of social distancing is just one of the new lessons learned in the "New Norm." A very positive byproduct did emerge from this time of confusion, as the industry worked in concert with governmental agencies to disseminate rules and regulations to keep Americans in their homes. is partnership, while not new, was a change as the industry's input was required and necessary in order for its governing bodies to find amicable resolutions for all parties in the time of the pandemic. is month, DS News had a chance to speak to a number of different disciplines in the industry—from servicers, to tech providers, to former heads of governmental agencies— to discuss the state of the industry and where we are headed from here. In "Unexplained Territory" on page 46, as affordability and inflationary issues hang over the housing industry, our panel of experts detail the pros and cons that emerged from this unique period of time and what remedies can be put in place to prepare for the future. Because it requires a detailed strategy and high level of expertise to create a lean organization, Stephen Staid, EVP of Mortgage Practice Strategy for Sourcepoint, explains how servicers can formulate a cost-effective operation through digital technology on page 54 in his article "e Silver Lining in a Greenfield Playbook." Also this month, Allen Price, SVP and Head of Sales at BSI Financial Services, discusses the opportunities available in the market for mortgage servicing rights (MSRs) in his article "e MSR Market Is Soaring, But Challenges Await" on page 58. As Price notes, it may not grab the headlines, but the increase in MSR values is something for servicers to feel good about. However, in the not-too-distant future, this party may also end abruptly—unless organizations start thinking strategically about how to best manage these assets. In addition to all the latest default servicing news, this month, Alex Kudman, Chief Analytics Officer and Srijan Sareen, Director of Loss Mitigation, both of Enact Mortgage Insurance (formerly Genworth Mortgage Insurance), present "Unexpected Lessons Learned From COVID-19 Data" beginning on page 62. As the pandemic tested the housing industry, data collected over the past 24-plus months has provided the industry with what is needed to make beneficial decisions to better serve borrowers currently undergoing hardships. Kudman and Sareen discuss the many benefits of how the simple use of this data is helping both homeowners and the industry alike. On a final note, we are just weeks away from the premier mortgage conference that attracts subject matter experts, scores of exhibitors, and thousands of professionals representing the servicer, lender, federal government agency, financial services law firm, service provider, and investor spaces under one roof at the 2022 Five Star Conference in Dallas. Set for September 18- 20 at the Hyatt Regency in Dallas, the event will feature 30-plus hours of educational sessions, generous networking opportunities, meal functions, and the largest exhibit hall in the servicing industry. Visit FiveStarConference.com for more information or to register for the event. David Wharton Editor-in-Chief VOL. 20 NO. 8 EDITOR-IN-CHIEF David Wharton EXECUTIVE CREATIVE DIRECTOR Jonathon Won MANAGING DIGITAL EDITOR Eric C. Peck REPORTER Kyle G. Horst, Demetria Lester MAGAZINE CONTRIBUTORS Aleksandr Kudman Allen Price Srijan Sareen Stephen Staid COPY EDITOR Brandy Scott ADVERTISING Sales: 214.525.6700 EDITORIAL ADVISORY BOARD John Dunnery, VP, Government Loan Servicing, Mr. Cooper Benjamin Gottheim, Director, Mortgage Servicing Policy, Freddie Mac Michele Kryczkowski, SVP Operations, Distributed Retail, Planet Home Lending Alex McGillis, Senior Director, Product Development, The Answer, Quicken Loans Erik Schmitt, Managing Director, Origination Division, Chase Home Lending Douglas Whittemore, Head of Default Servicing, US Bank Jacob Williamson, VP Single-Family Collateral Risk Management, Fannie Mae Kim Yowell, EVP of Servicing, Fairway Independent Mortgage Servicing PRESIDENT & CFO Jonathan Hughes DESIGN Jordan Funderburk Jason Stone Jonathon Won No part of this publication may be reproduced without written permission from the publisher. ©2021 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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