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DS News October 2022

DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.

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58 move it to a decentralized work-from-home operation in a period of just three weeks, with nobody out there having had such a move in their playbook. We had playbooks for everything. NMSA helped organize a response and best practices of sharing information the banks, nonbanks, and the agencies. We needed to figure out the best way to reach out to customers. What should we offer in terms of waterfalls and such? We all worked together on moving our workers from a centralized to decentralized force, and we figured out how to offer products, and when. e major lesson learned was this: when those call volumes hit, which nobody could have ever expected, you needed to put as much information as possible out there and offer self-help on your website and portals. I think you will continue to see that. Some people will want to talk to some people. Others will want to read as much information as possible to self-help, but with regard to the industry's efforts to provide trusted service and information to customers to make informed decisions, you're going to see more of that. ese tools offer value and education through the web and portals so that people can educate themselves and then either make the decision to go through the web for self-help, communicate that way, or make a phone call directly to their servicer. How does a group like NMSA bring value to servicing professionals and attract them to become members? [Five Star Global Chairman] Ed Delgado created NMSA, and some of the early leaders like Anthony Meola offered a forum for banks and nonbanks to work on solutions to benefit our customers, the agencies, and the industry overall. But right off the bat, people from across the industry saw value. Let me harken back to the state of the industry pre-2008: nobody wanted to talk to anybody else until the crisis hit. All of us knew that we needed a strong industry where we pulled together, and that was a vehicle that Ed started, and it's still going strong. People show up at NMSA meetings and travel to make sure they're there. ey make sure a strong representative is there to contribute on behalf of their company. e value is already there, and these companies, banks, and nonbanks alike all see the value and show up to participate with NMSA. I'm very proud to be a member of the National Mortgage Servicing Association, and of all the work that we've done, and am excited to see it stronger than ever even after a crisis. What would you like to be remembered for as head of NMSA, and what was your greatest accomplishment over your term as Chair? Keeping the lines of communication open. During the pandemic, when there was so much stress within the system itself, communication between the companies was still there and NMSA helped facilitate that. It was a form where people could reach out to other people and gain information about what was working. What was working for you to reach out to the customers, because the call volumes were huge and unprecedented. Just the interchange of information, and having that forum there to conduct that communication, I thought was very important during these very trying times. What would you like to be remembered for by your peers? It changes after 40 years in the industry. e first 20, 25 years, you're striving to hit where you want to achieve. en it hits you that you're trying to protect what you achieved in your industry, so you start giving back through these trade associations: NMSA, the California Mortgage Bankers, MBA, whatever it is. Give back to the industry; help people out when they need help and give them information. I think that's important. It's nice to see that a number of us have taken that role of providing help to those coming up by mentoring or being involved in associations to help out the industry and our customers. I'm most proud of having been able to give back. Eric C. Peck has 20-plus years' experience covering the mortgage industry, he most recently served as Editor-in- Chief for e Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in communication arts/media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com. √FROM HIS PEERS "No matter what situation Wes is in, he seems to lead the others. In any conversation, it doesn't matter if it's his peers, if it's people that are running companies that are in competition with them, he always seems to have this subtle nature of being a leader in the industry. He's very well-deserving of this award, and I am honored to be working with him and to call him my friend." —Susan Milazzo, CEO, California Mortgage Bankers Association

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