DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/1509474
October 2023 » thefivestar.com 67 Brought to you by & MAY 2023 Magazine Y O U R T R U S T E D S O U R C E F O R M O R T G A G E B A N K I N G A N D S E R V I C I N G N E W S In this Issue DEBT AS DIVERSIFICATION Nonperforming loans and real estate owned (REO) assets as alternative asset anchors. BRACE FOR THIS TRIFECTA OF RISK Why zero repurchase risk is only the result of the new normal. MAKING STRIDES Here are the keys to accelerating proptech and real estate technology through venture capital. MortgagePoint examines the impact of the recent bank failures on the mortgage space, with a cross-section of experts imparting their perspectives on how to avoid similar issues in the future. Subscribe to MortgagePoint and MortgagePoint Digital now! Call 800.856.8060 to take advantage of our special introductory offer! Experts you trust. People you know. News you want. MortgagePoint is putting essential mortgage market news at your fingertips with our new digital edition, now available online via your smartphone, tablet, or computer. Enjoy the magazine at your desk, and tap into MortgagePoint Digital's easily accessible platform anywhere, anytime. Committed to giving originators, servicers, and all lending professionals access to smarter perspectives, MortgagePoint believes it's time to think differently about the mortgage industry. Because the American Dream is evolving . . . are you? Brought to you by & JUNE 2023 PROMOTING D&I IN THE MORTGAGE INDUSTRY NAVIGATING THE WILD, WILD WEST OF DIGITAL CLOSING PROVIDERS MORTGAGE LENDERS ARE MOVING QUICKLY TO ADOPT DIGITAL CLOSINGS. Also in this Issue: RETHINKING REVERSE MORTGAGE LENDING LENDERS TODAY ARE LOOKING AT REVERSE MORTGAGES AS ANOTHER LOAN PRODUCT TO ADD TO THEIR MENU OF OFFERINGS. Better Together Magazine Y O U R T R U S T E D S O U R C E F O R M O R T G A G E B A N K I N G A N D S E R V I C I N G N E W S Brought to you by & JULY 2023 Keeping Afloat TIME TO DOUBLE DOWN ON THE CONSUMER EXPERIENCE The sales numbers may not be where lenders would like to see them yet, but people do want to buy, according to new research. Here's what homebuyers are saying and what lenders can do to win their business. WHEN A SERVICER CAN TAKE POSSESSION OF A PROPERTY Attorney Joseph T. McCormick details a recent Ninth Circuit opinion on when a servicer can take possession of a property under the Oregon Unlawful Trade Practices Act. 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. RON & FRAUD: THERE'S MORE TO THE STORY While a small fraction of RON transactions may involve fraudulent activity, we have advanced tools at our disposal to stay ahead of bad actors. Magazine Y O U R T R U S T E D S O U R C E F O R M O R T G A G E B A N K I N G A N D S E R V I C I N G N E W S MortgagePoint speaks with mortgage servicing execs from BOK Financial, Carrington, the NMSA, PHH Mortgage Corporation, and Servbank about the unusual times and unusual opportunities the industry faces midway through 2023. F I V E S T A R M E M B E R S H I P S S P O T L I G H T : T H E L A T E S T N E W S A N D I N S I G H T S works to assess the performance of Ginnie Mae's assigned Issuers, and ensures they remain compliant with Ginnie Mae's Guidelines. "Issuers and our programs are able to get better pricing for their mort- gage-backed securities," Mason continued. "This is a vast network that we have of investors that invest in these securities and make money flow into the system." After a short networking break, Legal League held the first of several panel discussions, kicking off with the "Mort- gage Servicing Litigation: Where It Is and Where It Is Going" panel. Moderated by Jane Bond, Managing Partner of McCal- la Raymer Liebert Pierce LLC's Florida Litigation Group, panelists included Mike Aiken, SVP and Associate General Counsel for Fay Financial, LLC; Hilary Bonial, Managing Director for Bonial & Associates, P.C.; Deloise Browne-Milner, Senior Operations Manager, Default Man- agement, Foreclosure & Bankruptcy for Freddie Mac; Michael Merritt, SVP Mort- gage Customer Care and Default Servicing for BOK Financial; and Paul Santi, Default Servicing Legal Manager with Flagstar. The panel discussed the industry in the post-pandemic world, highlighting some of the most prevalent litigation issues of 2023. The panel provided their opinions and suggestions on loss mitigation options, future government funding and disburse- ment of funds from the HAF program, and the rise in litigation in the mortgage servicing space. "There's been a tremendous amount of loss mitigation," Bonial said. "We're seeing increases in mitigation, and then the types of allegations with claims that are being made. We're seeing increases in bankrupt- cy. Under the bankruptcies in addition to the normal violation of states, we're also seeing borrowers were claiming that they were forced to file bankruptcy because they were not given sufficient consider- ation by the lenders." The second panel discussion of the day, "Recent Mortgage Issues and Trends in Consumer Bankruptcy Cases," featured moderator Jeffrey Fraser, Partner with Albertelli Law, hosting a panel including Abbey Dreher, Partner with BDF Law Group; Chapter 13 Trustee Mary Viege- lahn; and Alicia Byrd, Senior Bankruptcy Manager with Flagstar Bank. As the bankruptcy courts begin to return to normalcy in the post-pandemic world, panelists highlighted recent case law, an array of proposed rules/procedures, and other emerging issues and trends related to mortgage loans in consumer bankruptcy cases. As the industry continues to make great strides in terms of diversity and inclusion, Legal League tackled key issues in that arena head on during a lively panel discussion titled, "Diversifying Legal Practice in Real Estate: Embracing Our Default Legal Expertise and Expanding to the Larger Real Estate Ecosystem." Moderated by Neil Sherman, President of Schneiderman & Sherman, PC, the panel featured Stavvy's Chief Product Of- ficer Shane Hartzler; Senior Partner Kent McPhail of McPhail Sanchez, LLC; and Michael Waldron, President of Compli- ability Solutions. The diversification panel keyed in on transitive properties of default professionals' experiences to the legal ar- eas of origination and real estate ancillary services. And as technology continues to evolve in the default servicing space, the panel discussed how to leverage advanced solutions, including artificial intelligence (AI), to remain competitive and provide superior client services. After a short break, a panel led by Tony Van Ness, Founder/Managing Attor- ney with the Van Ness Law Firm, PLC ti- tled "Foreclosure: Current Trends, Tactics, and Takeaways" was held. Van Ness, who also serves as Legal League Vice Chair, hosted panelists David Demers, Partner with the firm of Cooke Demers, LLC; Clay- ton Gordon, Director, Default Mediations and Litigation with Carrington Mortgage Services, LLC; and Melissa Black, First VP, Default Services with PennyMac Loan Ser- vices, LLC, and covered the current state of the foreclosure landscape. From changes within the servicer-attorney process, to current litigation trends around defense tactics and appellate decisions, the panel discussed concerns and challenges around the requirement updates in GSE foreclo- sures—before, during, and after a lawsuit. Up next was the final panel discussion, "The Core of Diversity and Its Rewards," moderated by Caren Castle, an Attorney with IDEA Law Group, PC. Panelists