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2 Keeping Pace With an Evolving Industry Welcome to the November 2022 issue of DS News. is month, we speak to property preservation experts on how they are navigating economic challenges, a shifting industry landscape, and an exodus of vendor partners as they attempt to maintain strong boots-on-the-ground service in the cover story, "e Front Lines of Property Preservation." As areas of the Southeast and East Coast continue to clean up after Hurricane Ian as updated estimates from CoreLogic of the damage and loss totals from the storm found that total flood and wind losses will total between $41 billion and $70 billion. is estimate includes wind loss, re-evaluated insured and uninsured storm surge loss and newly calculated inland flood loss for residential and commercial properties. Hurricane Ian is currently the costliest Florida storm since Hurricane Andrew made landfall in 1992. In "e Front Lines of Property Preservation," David Wharton chats with a panel of experts on the economic impact of COVID, inflation, supply-chain issues, and other headwinds that have presented challenges for those companies that continue to serve in the property preservation arena. In this feature, we are pleased to share the insight and perspective of Nickalene Badalamenti-Kalas, President of Five Brothers Asset Management Solutions; Stacey Bayley, SVP, Sales and Performance Management for SingleSource; Kellie Chambers, EVP of MSI Solutions; Michael Greenbaum, CIO of Safeguard Properties; Phil Johnsen, SVP/General Manager, Servicing & Real Estate Solutions for Altisource; Brandon Kirkham, COO of JGM Property Group; Tony Maher, VP, Business Development of Cyprexx Services, LLC; Chad Mosley, President of Mortgage Services for MCS; and omas O'Connell, SVP, Default Management for Planet Home Lending. In the article "Appraisal Modernization: Where We Are Now, What to Expect in 2023," author Phil King, VP, Principal Product Manager for EXOS Valuations, ServiceLink shares some his insight into what is currently happening in the appraisal modernization space, and what we can expect to see in the coming months as the industry begins to re-balance. Daren Blomquist, VP of Market Economics for Auction.com, in his article "Shifting Gears," discusses three distressed disposition trends as the housing market downshifts. Blomquist delves into downward pressure on sales rates at foreclosure auctions; home price appreciation switching to a headwind for real estate-owned (REO) properties; and the shift in buyers toward local investors with a track record of converting distressed properties into quality, affordable housing for owner-occupants. Janina "Gigi" Woods, SVP, Private Client Services for Planet Management Group, discusses the factors that non-QM investors must consider in a rapidly changing economic environment in her article, "Five ings You Need in a Non-QM Portfolio Manager." Janina explains the value of maximizing opportunities in the non-QM market through minimizing default, and other hurdles that non-QM investors may encounter with a recession looming in the shadows. Finally, three legal experts share their insights as T. Robert Finlay, Esq., Founding Partner of Wright Finlay & Zak; Joel Jensen, Bankruptcy Attorney with Diaz Anselmo & Associates P.A. in Covington, Kentucky; and Lauren Riddick, an Attorney and Director of Learning & Development at e Codilis Family of Firms, tackle a cross-section of housing-related legal issues, including default interest, bankruptcy, and foreclosure law in their November contributions to DS News. ank you again for your continued support of DS News and the default servicing industry. Wishing you and your family a happy holiday season. David Wharton Editor-in-Chief VOL. 20 NO. 11 EDITOR-IN-CHIEF David Wharton MANAGING DIGITAL EDITOR Eric C. Peck REPORTERS Kyle G. Horst, Demetria Lester MAGAZINE CONTRIBUTORS Daren Blomquist T. Robert Finlay, Esq. Joel Jensen Lauren Riddick John Rohrbach Janina "Gigi" Woods 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 No part of this publication may be reproduced without written permission from the publisher. ©2022 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