DS News

2 Lessons Learned, Knowledge Gained e challenges presented since March 11, 2020, when the WHO declared COVID-19 a global pandemic have had a ripple effect across the lives of all. But as we slowly crawl back to a state of balance, the lessons picked up along the journey of the past two-and-a-half years arm us with a great deal of knowledge moving forward. First and foremost, we learned a great lesson in pivoting and 'changing on the fly,' adapting to new ways of life. But in the end, we stand here stronger than ever, having endured a once-in- a-lifetime, life-altering event. One of the freedoms that has returned is the ability to again meet face-to-face, as this month, we prepare for the 2022 Five Star Conference and Expo, set for September 18-20 at the Hyatt Regency Dallas. e Five Star Conference attracts subject matter experts, hundreds of exhibitors, and thousands of professionals representing mortgage servicers, lenders, federal government agencies, financial services law firms, service providers, investors, and real estate organizations from across the nation. And while last year may have marked the return of the in-person event after a virtual event in 2020, mortgage and servicing professionals are clamoring to exchange ideas and network like the days of old. Visit FiveStarConference.com for more details and information. In this month's issue of DS News, we take aim at the servicing space and ask the question, "Are we in the Golden Age of mortgage servicing?" A recent Five Star Institute-hosted webinar featured Seth Sprague of Richey May, Jay Jones of Mr. Cooper, Dan Sogorka of Sagent, and Julian Hebron of e Basis Point, as the four discussed the state of the nation's $12 trillion mortgage servicing industry. Turn to page 64 for more details. With an increasing number of people relying on all things digital, the internet has become a playground for cybercriminals, as they stalk and eye their next victims on a daily basis. Tony Carothers of Corpay discusses his role as a Chief Information Security Officer, combating cybercrime and keeping ahead of this breed of criminal, in his article "How to Win at Cybersecurity: Become a 'Sneaker' CISO" beginning on page 68. Joshua Fieldgrove of Clayton, takes a deep dive into the Fair Debt Collection Practices Act, and how the Consumer Financial Protection Bureau (CFPB) is closely monitoring the fees tacked onto loans through their lifeline in his article "Zeroing in on Servicer Convenience Fees" beginning on page 72. Diversity, equity, and inclusion (DEI) efforts in the mortgage space have garnered more and more of the spotlight in recent years, and we highlight an article by Justin Foster of Radian titled, "Reflecting the Communities We Serve" on page 76. Foster notes the severe underrepresentation of diversity in the housing industry, as Fannie Mae reported that less than 17% of the housing industry's workforce is Black and Latino. Jacob Williamson of Fannie Mae shares the GSE's contribution to building back the nation's housing supply as he discusses Fannie Mae's REO repair strategy to offer equitable homeownership opportunities for all beginning on page 80. Erik Schmitt of JPMorgan Chase & Company explains that while mortgage servicers juggled changes in their own personal lives during the pandemic, managing their own workforce, and creating and executing new customer solutions were just some of the hurdles thrown their way. In "Servicers Adapt to Changing Times" Schmitt examines these challenges and how they were overcome beginning on page 82. David Wharton Editor-in-Chief VOL. 20 NO. 9 EDITOR-IN-CHIEF David Wharton EXECUTIVE CREATIVE DIRECTOR Jonathon Won MANAGING DIGITAL EDITOR Eric C. Peck REPORTERS Kyle G. Horst, Demetria Lester MAGAZINE CONTRIBUTORS Tony Carothers Phil Britt Joshua Fieldgrove Justin Foster Erik Schmitt Jacob Williamson 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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