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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 2 January 2024 F R O M T H E E D I T O R NEW YEAR, NEW HOUSING MARKET? W elcome to the first MortgagePoint of the new year. In the spirit of looking forward, this month our cover story is bringing you a piece entitled "Running the Numbers." For this month's cover story, we assembled a panel of economists to pick their brains about what trends, headwinds, and challenges they expect to shape the 2024 housing market, with insights from: Molly Boesel, Principal Economist, Office of the Chief Economist, CoreLogic; Jacob Channel, Senior Economist, LendingTree; Daryl Fairweather, Chief Economist, Redfin; and Greg McBride, SVP, Chief Financial Analyst, Bankrate.com. You can read what they had to say beginning on page 30. Also, be sure to check out our writeup of the annual National Property Preservation Conference (NPPC), which returned to Washington, D.C this past November. Celebrating its 20th iteration later this year, the NPPC brings together a cross-section of field services vendors, mortgage servicing professionals, and representatives of government agencies and the GSEs to "discuss pressing issues and develop solutions." I got the chance to attend this year, so skip over to page 48 to read up on what the event's lineup of industry subject-matter experts had to discuss during a few beautiful fall days in D.C. On page 44, Samantha Shanaberger of Clayton Servicing Oversight examines the policies and practices of servicer call centers, and how these centers must remain vigilant of changing rules and regulations. Read her thoughts in our feature entitled " Call Centers Under New Scrutiny for 'Soft Skills.'" Next up, Courtney Hess, Product Owner of GSE Relations and Integrations at Mortgage Cadence, reminds us that "Lenders Cannot Afford to Ignore Affordable Lending." In this piece, Hess examines the changing face of the average American homebuyer and explores how expanding product offerings can keep pace. You can find the full feature on page 38. Finally, we have insights from Michael Krein, President of the National REO Brokers Association (NRBA) and Managing Partner for House Karma. In his piece, "The Next Default Spike Will be Unlike Any We've Seen Before," Krein explores just how much things have changed dramatically in the way the default and foreclosure world operates, and what that will mean for any future default spikes. Turn to page 52 to give it a read. You'll find all this and more in the pages ahead. Welcome to 2024, and welcome to this year's first 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 Courtney Hess Michael Krein Samantha Shanaberger 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. © 2024 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.