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FROM OUR DESK Leadership … for the Industry, for the Country, for the Recovery Another September, another Five Star Conference. It's that time of year again— the issue that coincides with the biggest gathering of default servicing professionals in the country. Now in its ninth year, the Five Star Conference, put on by our parent company the Five Star Institute, draws professionals from every corner of the country and from every facet of default servicing. The one thing they have in common is that they are all leaders— innovators and pacesetters that share a desire and determination to create a better industry. of DS News: "The Leadership Issue." And with November elections just around the corner, inevitably talks of leadership turn to those leading our nation. The industry faces two very different agendas over the next four years, dependent on which way It's in the spirit of these leaders at the Five Star Conference that we've themed this rendition the ballots swing. In our cover story this month, Keith Button endeavor to decipher the presidential candidates' positions on housing policies, regulatory reform, and other issues directly impacting our industry. It's not an easy puzzle to piece together, and that makes it all the more difficult to answer the question: Will housing fare better under Republican or Democratic leadership? Julia Gordon and Ed Delgado had no difficulty hashing out the answer in this month's Point—Counterpoint. You'll find both sides of the debate on page 93. We posed the same question to those of you who are part of our social media community; for those results, flip to page 50. Around the time the nation's commander-in-chief of the next four years is preparing to take his post, we could very well find ourselves facing a crossroads that would yet again, change the world as we know it. The end of 2012 could bring with it catastrophic events, and no, we're not talking about the December 21, 2012 doomsday foretold by the Mayan calendar's end. (Archaeologist claim to have discovered wall writings in Guatemala depicting Mayan calendars dated well beyond 2012, anyways.) The number crunchers on Capitol Hill began sounding the alarm in late August about the inevitable political showdown that's become known as the "fiscal cliff" (termed by some as "Taxmageddon," illustrating the gravity of a New Year cooperation that blurs party lines). According to the Congressional Budget Office (CBO), if lawmakers fail to act before $500 billion in tax increases and spending cuts hit in January, the first half of 2013 will mark the nation's descent into another recession—one that's likely to be even deeper than the last one, which still has many American homeowners in a stranglehold even though it was officially declared "over" more than three years ago. The national unemployment rate would likely climb to 9.1 percent by the end of 2013 and economic conditions would reflect what would "probably be considered a recession," the CBO warns. So as the country nears the edge of the towering cliff paved in monetary significance, will the reigning leader be the incumbent president or a former Massachusetts governor? Whichever candidate the American public chooses, he'll need the help of a supporting cast to pass any type of meaningful legislation or implement any sort of plan for economic growth. The world of politics over the past few years has made it painfully clear that party divisions in Washington can derail even the most noble ideas and common-sense proposals. The line that separates blue and red did, in fact, push our nation to the brink of default and destroy an entire population's confidence in its leaders. The Five Star's speaker lineup demonstrates partisan differences can be set aside for the benefit of a constructive, unified response to counter the common challenges posed by the frailty of the housing recovery. Two past U.S. presidents, one Democrat and one Republican, as well as a former first lady and a husband and wife team of renowned political analysts from opposing parties—they'll all be stepping onto the Five Star stage to address the leaders of an industry vital to the recovery and our nation's economic prosperity. To those leaders at Five Star who exemplify the very idea of unity for the greater good, we Follow DSNewsDaily on circulation and legal league 100 social media ds news black book corporate officers default servicing | in print and online vol. 10 no. 9 formerly publisher editorial director dsnews.com editor staff writer contributing writers copy editors advisory board editorial Mark Hulme Carrie Bay Esther Cho Tory Barringer Keith Button, Ed Delgado, Julia Gordon, Bill Ireland, Margaret Kelly, Mark Lieberman, Ingo Winzer Adam Crouch, Heather Hill, Alison Rich, Cassie Smith, Emily White Youree Gerald B. Alt, LOGS Network Amy Crews Cutts, PhD, Experian Ed Delgado, Wingspan Portfolio Advisors Jeffrey Jaffee, CitiMortgage Rick Sharga, Carrington Mortgage Holdings David A. Trott, Esq.,Trott & Trott P.C. design art directors: Jonathon Won, Bruce Sons creative director: Jason Stone cartoonist: Ryan Schuette advertising national account sales Andi Zimmerman: 214.525.6700 Jason Myers: 214.525.6760 senior account executive Donna Lott: 214.525.6792 account executives Thomas Griffin: 214.525.6754 Ryan McLemore: 214.525.6723 Kevin Shields Kelli Snowgren: 214.525.6786 Andi Miller chairman and chief creative officer: Mark Hulme chief financial officer: John Harrison chief operating officer: Rick Creel director of human resources: Ernest Gillespie corporate office 1909 Woodall Rodgers, Suite 300 Dallas, Texas 75201 Phone: 800.856.8060 magazine thank you for your vision and for your commitment to the industry. And to those leaders in Washington who seem to have lost sight of their purpose, we urge you to take notice—within the default servicing industry, you'll find individuals who are worlds apart, but there's no in-fighting; with a common goal of creating a better industry and furthering the recovery, there's only collaboration. From the DS News Editorial Team 4 No part of this publication may be reproduced without written permission from the publisher. ©2012 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.

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