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FROM OUR DESK Refueled and Refocused Having just wrapped the 10th Annual Five Star Conference and Expo as the event's media sponsor last month, we're entering the last quarter of the calendar year reinvigorated, focused, even galvanized thinking about what's in store for our readers and industry partners in the months ahead. It was certainly enjoyable and gratifying to see those of you that made it out to Dallas for the Five Star Conference and to talk with you directly about trends in your local markets, your success stories, your challenges, and how DS News can better serve you and your colleagues as we work together to advance the business and professionals of default servicing—there is truly no better social network than good ole face-to-face conversation. And if we didn't have the recent privilege of chatting one-on-one, we'd still like to hear from you. Drop us a line at Editor@DSNews.com if you have a story suggestion, company news, market development, or personal success or challenge you'd like to see on the pages of DS News. In the meantime, we've memorialized the 2013 Five Star Conference in pictures, which you'll find on pages 10-13. We take a look at the return of private mortgage insurers in "Stepping Up to the Plate" on page 50, get reacquainted with the business of short sales on page 60, and take a look at what makes a good leader with a special contribution from JPMorgan Chase's leader of 10 years, Jamie Dimon, on page 54. Your DS News Editorial Team default servicing | in print and online vol. 11 no. 10 for me rly PUBLISHER EDITORIAL DIRECTOR DESIGN DSNEWS.COM VIDEO EDITOR STAFF WRITER CONTRIBUTING WRITERS COPY EDITORS EDITORIAL ADVISORY BOARD ADVERTISING DS NEWS BLACK BOOK AND LEGAL LEAGUE 100 SOCIAL MEDIA CIRCULATION magazine Mark Hulme Carrie Bay Jonathon Won Jordan Funderburk Tory Barringer Jamie Dimon, Kyle Fee, Krista Franks Brock, Daniel Hartley, Jed Kolko, Sandra Lane Alison Rich, Emily White Youree Jerry Alt, LOGS Network Amy Crews Cutts, PhD, Equifax Vic Draper, ProVest Steven Horne, Wingspan Portfolio Advisors Jeffrey Jaffee, CitiMortgage Rick Sharga, Auction.com Jason Myers: 214.525.6760 Thomas Griffin: 214.525.6754 Robyn Clayton: 214.525.6716 David Hoierman: 214.525.6728 Lindsay Wolf: 214.525.6739 Amy Bouaazzi: 214.525.6740 Kelli Snowgren: 214.525.6786 Blake Stepan Rebecca McDowell CHAIRMAN AND CHIEF CREATIVE OFFICER PRESIDENT AND CHIEF EXECUTIVE OFFICER CONTRIBUTORS Get to know the experts and insiders behind this issue Jamie Dimon has served as JPMorgan Chase's president since July 2004 when the firm merged with Bank One Corporation. Until December 31, 2005, he also held the title of COO; at the start of 2006, he became the company's CEO and was named chairman of the board on December 31, 2006, a role he held for nearly seven years. At Bank One he had been chairman and CEO since March 2000. Prior to that, his extensive experience included time with Citigroup Inc., the Travelers Group, Commercial Credit Company, and American Express Company. He graduated from Tufts University in 1978 and received an MBA from Harvard Business School in 1982. Kyle Fee is a senior research analyst in the research department of the Federal Reserve Bank of Cleveland. His work focuses on economic development, regional economics, economic geography, and federal funds futures probabilities. He has a B.S. in economics and business administration from John Carroll University and a master's in urban studies and economic development from Loyola University. He joined the Cleveland Fed in 2007. Daniel Hartley is a research economist in the research department of the Federal Reserve Bank of Cleveland. He is primarily interested in urban/regional economics and labor economics. His current work focuses on crime, public housing, and neighborhood housing market dynamics. He completed his Ph.D. at the University of California, Berkeley. He has an MBA in economics and finance from the University of Chicago and an M.Eng. and a B.S. in electrical engineering from the Massachusetts Institute of Technology. Jed Kolko is chief economist and head of analytics for Trulia. He applies a background in economic development and research methods to transform real estate data, economic trends, and public policy debate into digestible insights for homebuyers, sellers, and renters. He was previously associate director and research fellow at the Public Policy Institute of California. He's also held positions with Forrester Research, the Office of Federal Housing Enterprise Oversight, the World Bank, and the Progressive Policy Institute. 2 Mark Hulme Ed Delgado CHIEF FINANCIAL OFFICER John Harrison EVP OF CLIENT RELATIONS & STRATEGY DIRECTOR OF ACCOUNTING MARKETING DESIGN Chris McCormick Ernest Gillespie Matt Hulme Sean Walker Jason Stone Jonathon Won Denis Kashoid PRODUCTION Luke Rose TECHNOLOGY Chris Warren CHIEF ECONOMIST Mark Lieberman Follow DSNewsDaily on No part of this publication may be reproduced without written permission from the publisher. ©2013 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.

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