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2 hat does it mean? Some psychotherapists will tell you that acceptance is a process. ey will point to the five stages of grief (denial, anger, bargaining, depression, and finally acceptance) and argue that one can truly come to a healthy place of acceptance of their current circumstances without traveling through the other four stages. ere is an argument to be made that the industry has been through trauma in the wake of the financial crisis. From consolidation and layoffs all the way to the new regulatory scheme imposed upon it, this industry has been through the wringer. It will probably never be the same. It is getting better. We are recovering. But it looks different this time. As I engage in conversations with industry leaders, the complaint I hear most often pertains to the effect that the CFPB is having on the way business is done. ey say that the new regulatory scheme is too restrictive, too costly, it's not responsive to what really drove the housing collapse, etc. Sometimes the stages of grief manifest themselves. Some are angry. Some deny that there were problems with the old way of doing business. Some are overly pessimistic about the future. While the prudence of Dodd-Frank and actions taken by the CFPB is a debate worth having, the fact remains that the current reality is unlikely to change for the foreseeable future. is month we skip to the last stage and focus on moving ahead. Specifically we focus on what these changes mean for the default administration process. In his piece, e Bureau Effect, Vincent Spoto takes us past the prudence arguments and gives us a roadmap for running a successful default administration process in light of the new reality. We never have trouble accepting your ideas. 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. Derek Templeton Editor, DS News Acceptance… FROM OUR DESK default servicing | in print and online VOL. 13 NO. 6 No part of this publication may be reproduced without written permission from the publisher. ©2015 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 EDITOR DESIGN DSNEWS.COM VIDEO EDITOR STAFF WRITERS COPY EDITORS ADVERTISING DS NEWS BLACK BOOK AND LEGAL LEAGUE 100 Mark Hulme Derek Templeton Jonathon Won Jordan Funderburk Krista Franks Brock, Scott Morgan, Brian Honea Alison Rich, Shalene Roberts Robyn Clayton: 214.525.6716 Courtney Coffey: 214.525.6781 Lindsay Wolf: 214.525.6713 Kevin McCrea: 214.525.6756 Jason Myers: 214.525.6760 Suzanne Andresen: 207.443.3314 Kelli Snowgren: 214.525.6786 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 DESIGN Mark Hulme Ed Delgado John Harrison Ernest Gillespie Sean Walker Jason Stone Jonathon Won Denis Kashoid

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