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4 This Month FROM OUR DESK . . . . . . . . . . . . . . . . . . . . . .2 DS JOURNAL Alabama Senator Shelby Elected Chairman of Senate Banking Committee, State Legislatures Taking Steps to Eliminate Neighborhood Blight, Mortgage Loan Delinquencies Way Down, Could Normalize in 2015, Fed Paid Record $98.7 Billion to Treasury in 2014 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 MOVERS & SHAKERS . . . . . . . . . . . . . . . . 26 STATE OF AFFAIRS e State of Affairs section provides impactful local market information at your fingertips . . . . . . . . . . . . . . . . . . . . . . 75 COVER STORY A PRESIDENTIAL VICTORY LAP Heading Into Its Final Two Years, the Obama Administration is Taking Credit for Housing and Economic Recovery. By Brian Honea . . . . . . . . . . . . . . . . . . . . 60 INDUSTRY INSIGHT STATE REGULATORS MAKE TROUBLE FOR OCWEN What do the servicers' recent difficulties mean for the future of nonbank servicing? By Ashley R. Harris . . . . . . . . . . . . . . . . 64 REGULATORY INSIGHT THE UNDERAPPRECIATED IMPACT OF DODD-FRANK: THE RISE OF FEDERAL AND STATE REGULATORY COOPERATION e passage of the sweeping regulatory overhaul birthed a newfound sense of cooperation between federal and state regulators but areas of tension still remain. By Neal Doherty and Maria Moskver . . . . . . . . . . . . . . . . . . . . . 68 SUCCESS FORMULAS FROM THE GROUND UP With industry roots that reach back three decades, BSI Financial Services has since blossomed into a thriving special servicing company that's successful to the core. By Tory Barringer . . . . . . . . . . . . . . . . . . 72 Contributors BRIAN HONEA'S writing and editing career spans 13 years across many forms of media. He served as sports editor for two suburban newspaper chains in the Dallas, Texas area and has contributed for such publications as the Yahoo! Contributor Network and the Dallas Morning News. He has authored four non-fiction sports books, the latest of which, e Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. ASHLEY HARRIS is a contributor to DS News. She is the former Editor-in-Chief for MReport and eMReport.com and the acting Editor-in-Chief of DS News and DSNews.com. Ashley has years of experience as a financial writer, having worked at e Houston Chronicle and Newsweek. She received her B.S. in journalism from the University of Houston and her M.S. in journalism from Columbia University School of Journalism. MARIA MOSKVER is the Chief Compliance Officer at WALZ, with over 16 years of experience in the consumer finance industry—including loss mitigation, bankruptcy and operations—bringing extensive knowledge of TILA, RESPA, FCRA, FDCPA, Dodd-Frank and other regulatory issues. NEAL DOHERTY is the Managing Director of Compliance Solutions at WALZ, analyzing new regulations to determine their potential impact, assisting clients in complying with state and federal laws, and reviewing client notices to ensure compliance. Walz Group is a leading provider of regulatory compliance solutions and critical document management to the nation's premier mortgage servicers, law firms, trustees and others in highly regulated industries. TORY BARRINGER began his journalism career in early 2011, working as a writer for the University of Texas at Arlington's student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News' sister publication, MReport, which focuses on mortgage banking news. Join the Conversation Do you have a suggestion, story idea, or feedback you'd like to share with DS News readers? Help shape our next issue and e-mail Editor@DSNews.com. F E B R U A R Y 2 0 1 5 C o n t e n t s D S N E W S . C O M 68 64 72 60 Heading Into Its Final Two Years, the Obama Administration is Taking Credit for Housing and Economic Recovery A PRESIDENTIAL VICTORY LAP

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