DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/1530282
MortgagePoint ยป Your Trusted Source for Mortgage Banking and Servicing News 48 December 2024 F E A T U R E S T O R Y "game-changer" for industry regulation. Whereas the Biden administration pri- oritized issues such as climate change, DEI, and minority homeownership, Rood said that we should look to the precedent of President Trump's previous administration for suggestions of what to expect. Rood also suggested that GSE reform and a reexamination of conser- vatorship will likely be on the table. The panel discussed other likely trends on the horizon during the incom- ing administration, including changes in underwriting criteria, a focus on ways to lower interest rates, and potential friction between President Trump and Fed Chair Jerome Powell. Housing, and in particular strategies to make housing more affordable, should be a goal, Rood noted, who observed that "Living in- doors has never been more expensive." The panel said that foreclosure rates and REO inventories are expected to re- main low, barring any unforeseen "black swan" events. Gottheim explained that more people are selling after a foreclosure is initiated but before the process is completed, exiting with a high home-sale price. The whole ecosystem, Gottheim continued, is focused on working with homeowners and letting them leverage the high levels of equity the market currently makes available. Delgado asked Thibaudeau to dis- cuss Fannie Mae's HomePath program, which allows buyers to purchase REO properties out of Fannie Mae's inventory, allowing owner/occupants more chanc- es to purchase a home without com- peting against institutional investors. Thibaudeau added that due to ongoing inventory shortages, there is a renewed focus on rehabbing properties before sale, as opposed to selling as-is. Safeguard's Greenbaum then laid out some of the challenges currently facing property preservation vendors, including competition for workers from the gig economy and the ongoing im- pact of record-low defaults. Despite the cyclical nature of real estate, properties still need to be assessed throughout that cycle. He also suggested that prop pres companies struggling to make ends meet may need to explore opportunities within "adjacent markets" such as sin- gle-family rental. He also reiterated the importance of staying focused on the fundamentals, ensuring comprehensive assessments to "truly understand the state of the property upfront." Exploring Different Facets of the Industry N ext up was a panel focused on the legal aspects of the property pres- ervation sector, entitled "Understanding and Adapting to New Legislation," moderated by Linda Erkkila, General Counsel of Safeguard Properties and featuring Greg Wallach, Supervising Attorney at Aldridge Pite; Marcel Bryar,