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DS News Jan 2023

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

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39 to high volumes. We are focused on the strong relationships we have built with our critical vendors to help identify bottlenecks and solutions to avoid long delays. With inflation concerns still present, rates will likely continue to rise. is impact will continue to put pressure on originations and begin to impact servicers more and more. We are working with investors and industry groups to proactively look at new solutions and options to meet customers' needs. What are the victories from 2022 that you're most proud of yourself and your team for accomplishing? What were the keys to success that enabled you to succeed in these areas? e year started with headwinds in loss mit- igation and foreclosure areas as the COVID-19 impact was still being felt and the foreclosure moratoriums expired in January. Our teams were able to handle these historically high volumes and remain focused on getting customers to a positive resolution. roughout the year, the loss mitigation pipeline has shifted to more complete packet reviews. is process has required a different conversation with the customer upfront and more work throughout the process. e team pivoted and handled the change in workflow without missing a beat. e last few years have involved more change from regulators and investors than I have seen in my career. I am so proud of how we effectively handled the changes and didn't have any slippage in our performance day to day. Candace Russell VP–Post Sale, Carrington Mortgage Services What are the biggest challenges you are trying to solve for in 2023? How are you working to surmount those challenges? e real estate market and mortgage industry will continue to be challenged by the impact of rising interest rates. We expect the industry will begin to reckon with the consequences of a potential economic slowdown on the industry and customers. In 2023, firms will need to be agile and continually adapt to a changing market in order to be successful. What are the victories from 2022 that you're most proud of yourself and your team for accomplishing? What were the keys to success that enabled you to succeed in these areas? e continued growth of the Carrington Mortgage Services servicing portfolio. CMS currently serves more than 650,000 borrowers. Carrington continues to offer new products for brokers and consumers. ese include ProcessIQ, where brokers have the option of having Car- rington process the loan as part of its underwrit- ing; second-lien loans for Carrington borrowers; and assumable mortgages. 2022 Carrington Charitable Foundation (CCF) successes include a successful close to Carrington House after building 28 homes for catastrophically wounded veterans. In 2022, CCF also introduced the Gold Star Family Housing Initiative. e Carrington Companies and CCF can make a huge difference in the lives of struggling Gold Star families by giving them a place to forever call home, relieved of the economic burden of a mortgage. In 2022, CCF assisted the families of U.S. Navy Lieu- tenant (SEAL) Mike McGreevy and U.S. Navy Special Operations Chief Petty Officer (SEAL) David Fegyo—both of whom made the ultimate sacrifice while serving their country. ere will be more Gold Star Family Housing Initiative families in 2023. "In 2023, firms will need to be agile and continually adapt to a changing market in order to be successful." —Candace Russell, VP–Post Sale, Carrington Mortgage Services

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