DS News


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

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2 Cheers to New Beginnings Beginning next month, DS News and MReport will unite under one banner and become MortgagePoint, beginning a new chapter in mortgage finance news coverage brought to you by the Five Star Institute. Each month, we will still bring you all the latest in the default servicing, REO, foreclosure, legal, and loss mitigation space, but now sprinkled in with everything else in the mortgage finance and loan origination markets as well. MortgagePoint will serve as your one-stop shop for all breaking news and all things relevant that impact your daily business. is month, in the grand finale of DS News, we present a 20-year retrospective about the evolution of the publication, from its beginnings in 2003 as REO Magazine with the mission to cover the default servicing sector of the mortgage space, through its eventual change to the DS News you have come to rely on today. roughout it all, no matter the title, the publication brought its readership exclusive interviews, features, and contributed pieces featuring insights from the men and women who were integral to navigating the state of the default servicing space. Also this month, Phil Britt covers a recent Five Star Institute webinar that featured representatives of Flagstar, Selene Finance, and OrangeGrid discussing the keys to getting mortgage servicing technology projects approved and executed within a 90-day timeframe in his piece, "e Speed of Innovation," beginning on page 42. Today's rapidly changing industry calls for tighter turn-around in order to keep up with the competition, so any leg up that technological advances provide in terms of speed can help keep servicing professionals ahead of the game. Next, Robert A. Riether Esq., Senior Associate with Wright, Finlay & Zak LLP, presents his look at vexatious litigation in his contribution this month, "e Litigation Bully: Vexatious Litigation," beginning on page 46. A "Vexatious Litigant" is one who repeatedly files unmeritorious motions, pleadings, or other papers, conducts unnecessary discovery, or engages in other tactics that are frivolous or solely intended to cause unnecessary delays. Reither details these litigious roadblocks and their impact on foreclosure proceedings, specifically in the states of Arizona and Nevada. On page 50, Louis Amaya, Co-Founder and CEO of PEMCO Capital Management, shares his perspective on the market in "Housing Market 2023: Predictions and Strategies." Following the pandemic home seller boom which benefited sellers, the transition to a distinctly buyer-biased market is coming, and Amaya describes several routes the market may take forward. Daren Blomquist of Auction.com shares his take on the state of the foreclosure space during the pandemic in his article on page 56, "Lessons Learned From the Triumph of Pandemic Foreclosure Prevention." In his article, Blomquist details how an estimated 3.2 million foreclosure starts were prevented, along with the completion of nearly 1.5 million foreclosures during the pandemic. You will find all of this and more in the March 2023 issue, the final issue of DS News. We all hope you enjoyed the ride that was DS News over the past 20 years, and we look forward to bigger and brighter things as the market continues to evolve as does our coverage of it with MortgagePoint. David Wharton Editor-in-Chief VOL. 21 NO. 3 EDITOR-IN-CHIEF David Wharton MANAGING DIGITAL EDITOR Eric C. Peck REPORTERS Kyle G. Horst, Demetria Lester MAGAZINE CONTRIBUTORS Louis Amaya Daren Blomquist Phil Britt Robert A. Riether Esq. COPY EDITOR Brandy Scott ADVERTISING Sales: 214.525.6700 EDITORIAL ADVISORY BOARD Benjamin Gottheim, Director, Mortgage Servicing Policy, Freddie Mac 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. ©2023 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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