DS News - Digital Archives

FROM OUR DESK default servicing | in print and online for me rly Default Servicing Personified In the unstable world that encompasses the housing market exist bureaucrats, policymakers, economists, bank execs, and other key players who attempt to shape the industry. Compared with the Hollywood stars who constantly capture our TV screens, these powerful figures are faceless unknowns. Yet, one authoritative figure has garnered much attention and seemingly no support. Edward DeMarco, acting director of the Federal Housing Finance Agency (FHFA), has become the center of controversy all because of one policy decision for which he remains fixed. With about 15.7 million homeowners underwater, according to the most recent statistics from Zillow, it's no surprise DeMarco's singular ability to keep Fannie Mae and Freddie Mac from applying principal reductions led the Washington Post to call him "the most powerful man in housing policy." DeMarco is also arguably the most disliked man in housing policy. So, when Bill Ireland pitched the idea of putting a human face on the impersonal world of policy directives by giving readers a look into what motivates a man to "keep rowing against the current," the idea was as relevant as it was interesting. A mixture of curious intellect and psychology, Ireland's article not only provides insight into the analysis that drives DeMarco, but it allows readers to see him the way those closest to him do. You'll find Ireland's riveting tale of DeMarco's mission on page 46, featuring the words of the FHFA acting director himself from a rare media interview granted to DS News. Another mystery DS News attempted to piece together for this issue is the anticipated post-settlement foreclosure wave. Now that the more than year-long negotiations over servicing practices are history, there's still the unsettling question of how the market will handle a potential onslaught of foreclosures expected to overwhelm it. Turn to page 50 to read the forecast from experts. With this issue, DS News is introducing a new ongoing series in which we will profile various sectors within the industry. Staying on the theme of uncertainty in a post-downturn economy, we profiled eight leading property preservation companies that are currently handling the buildup of foreclosures that have already found their way to the market. As the housing industry at large searches for firmer footing, these companies are working behind the scenes to maintain the vacant properties sprouting up in neighborhoods across the country. When it rains, it pours, and we're undoubtedly already looking at a downpour. Grab an umbrella and read on. We'll weather the storm in the meantime, and if you'd like to log a report on conditions under your own local skies, we're always available at Editor@DSNews.com. From the DS News Editorial Team publisher vol. 10 no. 6 magazine Mark Hulme editorial director Carrie Bay dsnews.com editor Esther Cho staff writer contributing writers copy editors editorial advisory board design advertising Tory Barringer Robert H. Hosch, Jr., Bill Ireland, Anne Mail, Thomasina Moore, Rick Sharga, John Walsh, Adam Weinstein Adam Crouch, Heather Hill, Alison Rich, Emily White Youree Gerald B. Alt, LOGS Network; Amy Brandt, Acqura Loan Services; Victor G. Draper, ProVest; Thomas W. Driver, Keystone Asset Management, Inc.; Vincent John Foley, First American Mortgage Services; David W. McCarthy, Integrated Asset Services; Dale McPherson, Field Asset Services; Todd Mobraten, US Real Estate Services, Inc.; Jason Nadeau, Stewart Lender Services; Chad Neel, LPS Field Services, Inc., and LPS Asset Management Solutions, Inc.; David A. Trott, Esq., Trott & Trott; Frank J. Veneziano, Weltman, Weinberg & Reis Co., LPA; Dave Webb, Hudson & Marshall art director: Jonathon Won creative director: Jason Stone art director: Charles D'Aprix cartoonist: Ryan Schuette national account sales Andi Zimmerman: 214.525.6700 Jason Myers: 214.525.6760 senior account executive Donna Lott: 214.525.6792 account executives Thomas Griffin: 214.525.6754 Ryan McLemore: 214.525.6723 circulation ds news black book and legal league 100 social media corporate officers corporate office washington bureau Chasity Clary Kelli Snowgren: 214.525.6786 Andi Miller chairman and chief creative officer: Mark Hulme chief operating officer: Rick Creel chief financial officer: John Harrison director of human resources: Ernest Gillespie 1909 Woodall Rodgers, Suite 300 Dallas, Texas 75201 Phone: 800.856.8060 1101 Pennsylvania Ave. NW, Suite 600 Washington, D.C. 20004 Phone: 202.393.5511 Follow DSNewsDaily on No part of this publication may be reproduced without written permission from the publisher. ©2012 REO Publishing 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. strongly encourages the use of qualified attorneys or other qualified experts with regard to the subject matter covered. 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. 4

• Cover