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2 vercorrection is a natural part of human nature. ink about it. When you burn your hand on the stove, the natural reaction is to yank it back as far away as you can as quickly as possible. We do it instinctively. After it happens, at least for a time, most of us will take special care to make sure that we don't get burned again. e same principle rings true when we examine the current state of the housing industry. e financial crisis of the previous decade burned us. It burned us badly. e exceedingly high unemployment rate brought the industry and the greater economy to its knees. We are just now starting to see some signs that the slow recovery that has been discussed ad nauseam may be taking hold. Whether you agree or disagree, this government has laid most of the blame for the financial woes facing this nation at the feet of the housing and financial services industries. Naturally, we don't want to get burned again. e reaction from the federal government has been to come down hard on the industry. e Consumer Financial Protection Bureau was created under the guise of leveling the playing field between the financial corporations and the consumer. With it came an unprecedented avalanche of new regulation that has fundamentally changed the way business is done. e Department of Justice has also spent the last year or so entering into multiple multibillion dollar settlements with nearly all of the major banks in this country, prosecuting them for the role that they played leading up to the crash. But when does making adjustments to pull our economy out of the ditch as it travels down the road turn into an overcorrection that just throws it into the ditch on the other side? You would be hard pressed to find anyone in the housing industry that doesn't agree that some form of common sense regulation is needed but how much regulation is too much? Surely there were some bad actors that helped precipitate the economic collapse. But is it really the best course of action to file a lawsuit against every major bank in the United States and extract record settlement amounts? In this month's cover feature, Ryan Schuette examines the spate of settlements that has the industry shelling out billions both in civil penalties and borrower relief. Are they really the most effective way to provide relief to borrowers who need it? In his piece "A New World, A New Opportunity" Chad Mosley, senior vice president for Mortgage Contracting Services, argues that, although the new regulatory climate may be problematic for servicers, it creates a new opportunity for field service providers to expand the suite of services that they offer. Of course, our burning question is always how we can serve you better. Is there something going on in the market that you would like to see covered? Have an idea for a new type of feature? We're all ears, so drop us a line and let us know how we're doing. Send us an email at editor@dsnews.com or follow us on Twitter @DSNewsDaily and join in on the conversation. Your DS News Editorial Team How far is too far? FROM OUR DESK default servicing | in print and online VOL. 12 NO. 10 No part of this publication may be reproduced without written permission from the publisher. ©2014 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. PUBLISHER ACTING EDITOR-IN-CHIEF EDITOR DESIGN DSNEWS.COM VIDEO EDITOR STAFF WRITERS CONTRIBUTING WRITERS COPY EDITORS ADVERTISING DS NEWS BLACK BOOK AND LEGAL LEAGUE 100 SOCIAL MEDIA Mark Hulme Ashley R. Harris Derek Templeton Jonathon Won Jordan Funderburk Tory Barringer, Krista Franks Brock, Scott Morgan, Brian Honea Ryan Schuette, Chad Mosley, Rod Walz, John Gonos Alison Rich, Shalene Roberts Robyn Clayton: 214.525.6716 Courtney Coffey: 214.525.6781 Thomas Griffin: 214.525.6754 David Hoierman: 214.525.6728 Kevin McCrea: 214.525.6756 Jason Myers: 214.525.6760 Kelli Snowgren: 214.525.6786 Blake Stepan f o r m e rl y m a g a z i n e Follow DSNewsDaily on CHAIRMAN AND CHIEF CREATIVE OFFICER PRESIDENT AND CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER DIRECTOR OF ACCOUNTING MARKETING DESIGN Mark Hulme Ed Delgado John Harrison Ernest Gillespie Matt Whiteley Sean Walker Jason Stone Jonathon Won Denis Kashoid

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