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25 » VISIT US ONLINE @ DSNEWS.COM Brandon Kirkham is Senior Vice President of VRM Mortgage Services and has more than two decades of industry experience. Prior to joining VRM Mortgage Services, Mr. Kirkham was the Co-Founder and President of Compliance Connections, a firm providing innovative, technology-based solutions for expedited community code- compliance. His career also includes stops as Executive Vice President of First Preston Management and First Vice President for Countrywide Home Loans The housing landscape looks drastically different than it did when VRM was founded in 2006. What steps has the company taken to adapt to meet industry requirements? Although default servicing continues to normalize from an overall volume perspective, this is a unique market, especially for REO disposition. Now, there is a growing demand for multiple layers of analytics to understand the best market approach within just a few days of acquisition. e industry's prior model of "test and adjust" has been replaced with complex data models that evaluate opportunities based on current local market activity, anticipated buyer demands, property condition, availability of financing, and prior history. Analytics will continue to play a key role in shaping our business. And while we will remain nimble, deeply focused on performance, and approach opportunities with an entrepreneurial mindset, the same fundamental mission we began with remains as relevant today as it did in 2006. e core of our success in adapting to the constant change is our commitment to meet the needs of our clients and the communities in which we operate. We firmly believe that we can change the world one asset at a time. What are the biggest compliance challenges that you see developing for your line of business in this regulatory climate? VRM has a broad service offering that extends well beyond REO asset management and disposition. Our lines of business now include title and closing services, property preservation, inspections, and rental management. Each business segment has its own unique subset of regulatory requirements and challenges. At VRM, we approach compliance as a competitive advantage. Each challenge represents an opportunity to make a difference for our clients and the communities we serve. But to be effective in today's market, I believe you must have a culture deeply rooted in compliance. Solutions have to be designed and tested well before new or modified regulations take effect, and they need to be continually refined as changes emerge. To stay ahead, VRM actively monitors the various national and state agencies and takes a disciplined, proactive approach toward compliance. We continually review all policies, procedures, and business practices, leverage autonomous Internal Audit teams, and manage change through our internal Change Control Board to help ensure our processes remain complaint. We also employ a compliance surveillance technology that we built from the ground up called Calibre. is proprietary platform runs real-time audits though a complex set of business logic controls to ensure compliance and provide full transparency to our clients. I would add that I believe effectively addressing a changing regulatory climate requires a dynamic pool of human capital that will embrace the opportunities ahead. I joined this industry over 20 years ago after graduating from Baylor. Many of my peers followed similar paths as we were drawn to "ready-now" career opportunities in mortgage-related businesses. Over the last several years, I have noticed a void of youth and diversity entering our industry. We, as an industry, need creative solutions to engage college graduates, minorities, veterans, and other highly skilled professionals. Failure to do so will result in exponential challenges delivering compliant services in the future. To support entry, growth and development into our industry, VRM created VRM University—or VRMU for short— to provide training, outreach and business development support. How is VRM different in its approach to asset management? We believe experience counts in this business. Having sold over 500,000 properties since 2006, we can provide our clients great insight on how to succeed amidst a broad spectrum of market challenges and a changing regulatory environment. VRM has a unique business model that is deeply invested in our biggest advantage: our people. Our team is comprised of real estate professionals that have practical hands- on experience in the specific discipline they support. For example, each asset manager is a licensed and experienced real estate agent that has first-hand knowledge of the strategies and techniques needed to engage the community in selling real estate. e "assembly-line" approach is not a model VRM has ever employed. We leverage our technology platform to automate the administrative aspect of default management. is allows our people to engage on a personal, local level to fully leverage the "people" aspect of real estate. It seems that today, servicers are placing higher demands on companies like VRM than ever before. They ask for work done quickly and at low cost. How does VRM balance meeting those demands with providing the quality that has become associated with the brand? We are very fortunate that our clients have a commitment to collaboration and an understanding of the impact of changes within the service delivery process. At the center of our business is technology. Automation provides the ability to eliminate cost and mitigate risk. Our IT team, led by industry veteran Paritosh Pathak, continuously identifies process improvement opportunities to elevate performance while maintaining an unyielding commitment to compliance. Eliminating manual processes enables us to remain focused on our commitment to our key principals: client service, performance, inclusion, transparency, and investment in community. Looking back now, what is one thing you wish someone would have told you when you first started in the industry? Buy stock in Apple! I have been very fortunate to have had the benefit of many great mentors over the last 20 years. One that stands out is Michael Barrett. He had this amazing ability to engage and inspire everyone he touched. e one thing that I wish I would have remembered more often is his advice to always take time to celebrate each day, no matter the challenge or the opportunity; it is the journey that matters and not the destination. We are all blessed with the opportunity to make a difference each and every day.