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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 2 November 2023 F R O M T H E E D I T O R PROPERTY PRESERVATION FEELS THE SQUEEZE W e have a long tradition of putting a focus on the property preservation sector in one of our fall issues, stretching back to MortgagePoint's predecessor publication, DS News. Property preservation provides difficult and sometimes thankless work that is critical to maintaining neighborhood stability and combatting urban blight as properties are turned back into the housing market. However, like many sectors of our economy, property preservation faced unprecedented challenges during the COVID-19 pandemic, and even several years after things have returned to "normal," the ripples of that era continue to deeply impact the vendors serving in this area, with many companies having folded or switched industries, while those that remain face shortages of labor, greater distances between the properties they maintain, and other factors. For this month's cover story, "The Cost of Doing Business," MortgagePoint spoke with the vendors, government agencies, and the GSEs trying to guide this important industry through the challenges it faces, particularly on the topic of allowable fees and why it's important that they align with the economic realities on the ground. Beginning on page 30, you can read in-depth insights from organizations including Cyprexx Services, Fannie Mae, Five Brothers Asset Management Solutions, HUD, Innovative Field Services, MCS, Safeguard Properties, and ZVN Properties Inc., including news on a late-breaking update from HUD that has been greatly anticipated by the industry. But that's just us getting started. Here are some of the other topics we explore this month: • "Five Triggers to Shift In-House Servicing to a Subservicer"—LoanCare's Kevin Cooke asks, "Could you be getting a better ROI on your servicing portfolio?" • "The Independent Investor Impact"—Kurt Carlton of New Western dives into ways real estate investors can help address the ongoing housing shortages. • "From Manufacturing to Mortgages, Quality Data Is Key"—When it comes to accurate data, companies can't afford not to use AI. Paul Fischer of Paradatec Inc. Explains why. • "Identity Crisis"— Angel R. Hernandez of Stretto examines how digitization reshapes the battle against seller impersonation fraud. • The Point—Gagan Sharma, Founder and CEO, BSI Financial Inc., discusses mortgage servicing tech trends in this longform Q&A. • Memberships Profile—Michael Greenbaum takes the Chair of Five Star's Property Preservation Executive Forum You'll find all of this and more in the pages ahead. Welcome to the November 2023 edition of MortgagePoint magazine. David Wharton Editor-in-Chief Magazine EDITOR-IN-CHIEF David Wharton ART DIRECTOR Jason Stone MANAGING DIGITAL EDITOR Eric C. Peck REPORTERS Kyle G. Horst Demetria Lester MAGAZINE CONTRIBUTORS Kurt Carlton Kevin Cooke Paul Fischer Angel R. Hernandez 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.