DS News

May 2016 - Walking the Tightrope

DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.

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» VISIT US ONLINE @ DSNEWS.COM 69 "Put simply: Agility is the ideal. At its core it is the ability to sense shifts in the marketplace, respond to the changing circumstances, and deploy solutions that better fit current market conditions." non-distressed properties. "Today's announcement represents something far more significant than a name change," Ten-X Chief Executive Officer Tim Morse said at the time of the announcement. "Our move to the Ten-X brand reflects our evolution into a marketplace for a much broader range of residential and commercial property types, and our expansion into new technology solutions that empower buyers, sellers and real estate professionals alike. Our vision is to make buying and selling real estate ten times better for everyone involved." Not to be outdone, Nationstar Mortgage Holdings. In February 2016, Nationstar announced in its fourth quarter earnings statement call that it would be later rebranding itself as Mr. Cooper. "Looking forward, we remain focused on taking steps that improve customer experience and drive customer retention while delivering greater value for our shareholders. We enter 2016 well positioned from a strategic, operational, and capital perspective," said Jay Bray, CEO at Nationstar. Being adaptable to the ebbs and flows of the industry is all about taking advantage of opportunities as they present themselves. "We already had them [RentRange] on as a vendor, which is pretty ironic," said omas O'Sullivan, CEO of Residential Investor One, a subsidiary of Altisource Portfolio Solutions. Altisource acquired Investability and RentRange in late 2015 to bolster their data capabilities and further diversify their offerings. "At a time they were looking to make some bigger moves into the space, we were looking to further capitalize the business, so it was a great fit," said RentRange CEO, Walter Charnoff. And there's the rub. Despite the industry's best efforts to prognosticate, the housing market is by its very nature a subject to change swiftly. Business leaders can position themselves to deliver sustainable business growth by embracing change and structuring their organization in a manner that allows for the highest degree of reasonable flexibility. And while "adapt or die" may be a bit of an overstatement, for some the alternative (stagnation) is a fate worse than death. As organizations change, employees who are valuable to the team will adapt as well. For most, it's not easy. Here are four tips for thriving in a dynamic work environment. Learn to Self-Assess: The first step to succeeding in a dynamic work environment is figuring out if you should be there in the first place. What type of person are you? Do you need absolute certainty in your life? How do you react to changing circumstances? The answers to those questions will tell you all you need to know. Learn To Think: Practice anticipating what's next. What are the market indicators that will determine the next moves for your company? Understanding the steps that you can take today to help a required change go smoothly next year is the difference between a valued team member and a seat filler. Learn to Learn: Diversify your skill set. Often with change comes higher expectations of each individual contributor. This means that employee versatility is a central ingredient in modern-day career progression. What can you learn today that will make you more valuable to the organization tomorrow? Learn To Let Go: The fundamental problem with organizational change is human nature: We tend to resist change in favor of more familiar circumstances. Nothing is sacred in dynamic environments, except the commitment to smart business practices. Adapt or Die— The Modern Mortgage Professional 1 2 3 4 COVER STORY INDUSTRY INSIGHT INDUSTRY INSIGHT

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