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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 2 July 2023 F R O M T H E E D I T O R THE STATE OF THE INDUSTRY, HALFWAY THROUGH 2023 F or this July edition of MortgagePoint, we wanted to pause and take stock of where the industry is and what challenges we are facing as we reach the halfway point of this year. From aiding the remaining homeowners still exiting forbearance to navigating economic headwinds and the ongoing impact of the Fed's attempts to combat inflation, it's been a complicated six months. For this month's cover story, "Keeping Afloat," MortgagePoint spoke with mortgage servicing execs from BOK Financial, Carrington, the National Mortgage Servicing Association, PHH Mortgage Corporation, and Servbank to gauge the state of the industry as it enters the second half of 2023. This month's lineup of feature articles continues with "Time to Double Down on the Consumer Experience," from Matthew Woodhouse, Managing Director, Valuations at ServiceLink. The sales numbers may not be where lenders would like to see them yet, but people do want to buy, according to new research. This feature looks at what homebuyers are saying and what lenders can do to win their business. In the first of a pair of legal articles, Caren Castle and Jennifer Rogers of IDEA Law Group, LLC, bring us a piece entitled "Colorado Supreme Court Weighs in on Bankruptcy & Foreclosure." A recent Colorado Supreme Court decision held that a discharge in bankruptcy does not trigger the statute of limitations on a claim to foreclose based on a deed of trust. This feature breaks down everything you need to know about the case. Next up, Brooke Adams, General Counsel, Chief Compliance Officer, and Corporate Secretary of Stavvy, brings us "RON & Fraud: There's More to the Story." In her feature, Adams argues that, while a small fraction of RON transactions may involve fraudulent activity, there are advanced tools available to help stay ahead of bad actors. "When can a servicer take possession of a property?" That's the question at the heart of a piece from Joseph T. McCormick, Esq., an Associate Attorney at Wright, Finlay & Zak's Washington office. McCormick details a recent Ninth Circuit opinion on when a servicer can take possession of a property under the Oregon Unlawful Trade Practices Act. Finally, be sure to check out our new Five Star Memberships section, which will bring you looks at the work and people involved in the Five Star Institute's (parent company of MortgagePoint) industry Memberships groups, including the National Mortgage Servicing Association, Legal League, Federation of REO-Certified Experts (FORCE), American Mortgage Diversity Council, and Property Preservation Executive Forum. This month's installment brings you an introduction to the Legal League's Publications Committee. You'll find all of this and more inside the pages of this July edition. Welcome to this month's installment of MortgagePoint. David Wharton Editor-in-Chief © 2011 First American Financial Corporation and/or its affiliates. All rights reserved. YOUR business is OUR business! First American Mortgage Services is laser focused on mitigating YOUR cost, risk and exposure by aligning our advanced solutions with YOUR strategic objectives and compliance needs. We are the New First American, over 120 years young, strong and financially secure. Insight | Innovation | Integrity First American Title Insurance Company and First American Mortgage Services make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. FIRST AMERICAN and FIRST AMERICAN TITLE are trademarks owned by First American Financial Corporation. 2 | Th e M Rep o RT Publisher Jon Ball contributing editor Abby Gregory online editor theMrePort.coM Ryan Schuette coPy editors Alison Rich emily White Youree heather hill contributors phil Britt Bob Calandra eric Fox Jack Konyk Mark Lieberman creative director Jason Stone art director Jonathan Won associate art directors Bruce Sons Chanyanont Loha-Unchit design director Sean Walker advertising Dina Duncan (214.525.6740) Jason Myers (214.525.6760) Andi Zimmerman (214.525.6724) technology Toby Tull Brandon Shangraw social Media Leon McKenzie Ani Vera circulation/corresPondence Celina Avila corPorate officers chairMan & chief creative officer chief executive officer Mark hulme edward R. 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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. MReport strongly encourages the use of qualified attorneys or other qualified experts with regard to the subject matter covered. MReport does not guarantee the accuracy of the information and is not liable for any damages, losses, or other detriment that may result from the use of these materials. FORDEFAULTSERVICINGPROFESSIONALS THEFIVESTARINSTITUTE Follow us. Magazine EDITOR-IN-CHIEF David Wharton ART DIRECTOR Jason Stone MANAGING DIGITAL EDITOR Eric C. Peck REPORTERS Kyle G. Horst Demetria Lester MAGAZINE CONTRIBUTORS Brooke Adams Caren Castle Joseph T. McCormick Jennifer Rogers Matthew Woodhouse COPY EDITOR Brandy Scott ADVERTISING 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 EXECUTIVE ADVISOR Michael S. Waldron Corporate Officers PRESIDENT & CFO Jonathan Hughes ART DIRECTION 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. MortgagePoint strongly encourages the use of qualified attorneys or other qualified experts with regard to the subject matter covered. MortgagePoint does not guarantee the accuracy of the information and is not liable for any damages, losses, or other detriment that may result from the use of these materials.