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69 » VISIT US ONLINE @ DSNEWS.COM NATIONAL OH THE PLACES YOU'LL GO By Neil R. Sherman, Schneiderman & Sherman, P.C. Until I had children, I probably went about 20 years without reading the Dr. Seuss story Oh the Places You'll Go. I love how the story cap- tures the excitement of new beginnings. Today is your day. You're off to Great Places! You're off and away. It explores the seemingly endless doors of opportunity, which then give way to the Bang-ups and Hang-ups of uncertainty and once again to the exhilaration of opportunity. We used to read it at summer camp as a way of sending our campers back to the "real world" of school, city living and eventually, for older campers the beginning of their careers. Now I am reading it to nine and six year olds respec- tively. e other night, after tucking my boys in, I sat down and read it in the context of the industry I have had the pleasure of working in for the last 15 years. It resonated so significant- ly as I peered back through the telescope on the beginning of my career. Out there things can happen and frequently do to people as brainy and footsy as you. Hard work, dedication to the practice of law and the representation of our clients had allowed many in our default at- torney world to build thriving practices with an emphasis on quality, efficiency and technology. Just like Seuss' story, our industry story is not all roses. You'll come down from the Lurch with an unpleasant bump. And the chances are, then, you'll be in a Slump. Many are the challenges that we face as we close the door on 2015. As an integral part of the mort- gage servicing process, default attorneys have experienced an epic decline in volume, consis- tent if not increased compliance responsibilities and challenges brought on by the expenses associated with the practice. ere are difficult questions with very few answers. A number of industry colleagues closed their doors in 2015 citing economic constraints as the chief reason behind it. Year to year decreases in the area of 25% and as high as 40% in some states have taken an incredible toll on some operations. Discussions of standardized audits have not progressed beyond discussion. Fee increases may have come too late for some firms and may still be too low for others. Some areas of practice, such as ancillary revenue from title products and closing services have been met with increased competition. You will come to a place where the streets are not marked. Some windows are lighted. Bust mostly they're darked. A place you could sprain both your elbow and chin! Do you dare to stay out? Do you dare to go in? How much can you lose? How much can you win? is is not the time to sit waiting for the fish to bite. is is a time of change. We must change with the times and evolve. at will mean different things to different firms. It may mean looking at other practice areas other than mortgage default or sister practice areas that match up well with our compliance background and processing experience. It may for some mean acquisitions or sales. For others, it may mean doubling down on process efficiency. It may mean all of these concepts combined. I would like to throw out one additional concept and that is "Partnership." Tis the season of partnership! e holidays are when we see this word more than any other time of year. I queried my email box and found over 20 emails in the last two weeks. "ank you for your ongoing partnership," "As a strate- gic partner….we need you to…," "We truly value your partnership." I appreciate all of the holiday sentiments, but what I really want for the holidays this year is "real Partnership." We, as a default attorney industry work with some of the most incred- ible clients in the United States and some of the most amazing technology and service vendors. Many of these companies are in the Fortune 500 or traded on Wall Street. e majority of our firms are not. When we are struggling as a community, it is easy to point fingers at others, but what we need to do is build on the relationships that we have with our clients and vendors so that the relation- ship can evolve into a true partnership for the benefit of consumers and our entire industry. Let us renew discussions of standardized audits, partner with respect to technology fees, analyze if the borrowing power of a Fortune 500 can assist a small business with vendor relationship introductions. Where we have multiple voices humming a same or similar song, we must try and at least shout the chorus together, in unison so someone can hear. e true essence of partnership is the give and take that both parties provide and recogniz- ing that both sides have goals and objectives they need to meet. Only through understand- ing and dialogue can everyone's positions be understood and then pursued. Otherwise, it is not a partnership. So, in 2016, while we face the uncertainty of many doors we may or may not walk through, hopefully, as a community, we will come out of the fog that was 2015 with a new sense of self, armed with stronger partnerships and a revised outlook as we gaze to the future. So be sure when you step. Step with care and great tact and remember that Life's a Great Balancing Act. Just never forget to be dexterous and deft. And never mix up your right foot with your left. And will you succeed? Yes! You will, indeed! (98 and 3/4 percent guaranteed.) "Fee increases may have come too late for some firms and may still be too low for others. Some areas of practice, such as ancillary revenue from title products and closing services have been met with increased competition."

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