DS News

DS News October 2017

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

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2 Springing to Action To say our industry has been a whirlwind of activity lately would be putting it lightly. In reaction to the catastrophic hurricanes Harvey, Irma, and Maria, the housing industry has pulled together in new ways to assist impacted homeowners and address the areas of weaknesses in policies, practices, and procedures the storms have made apparent. In this month's DS News, we drill down into a few of the ways the industry is addressing these natural disasters. On the cover, we bring you "Charting the Path Forward" which dissects the overwhelming obstacles the hurricanes created, along with the progress that a spate of government entities and industry heavyweights have made toward managing the crisis and re-making the devastated locales. Writer Joey Pizzolato dives deep into the details, even tacking on an informative sidebar with some data that might surprise you. Example: Eighty percent of homes in the FEMA-designated disaster zones in Houston are without flood insurance. (Yes, you read that right.) Next, in "At Your Service," contributor John Park stresses the importance of superior customer service and how it means the difference between retaining clients or losing them to a company that treats them right. Mastering such things as consistent communication, borrower education, and the right mix of tech and touch, Park writes, goes a long way toward delighting your customers and keeping them in your database. In "Stepping Up to CWCOTs," Vlad Sedler shares his expert insights on the Claims Without Conveyance to Title program. An alternative way to procure foreclosures, the little- known program lets interested bidders vie for homes on the courthouse stairs. Unlike REOs, CWCOT properties are sold sans back taxes or liens, among other perks that Sedler shares in this feature. Next, Michael Harris contributes this month with "Recovery rough REO," a timely take on the constricted housing inventory and how numerous urban zones are being shunted away. He asks: Can the real estate owned sector help redirect these neglected areas toward recovery? Read on to find out. Rounding out the mix, we have "Trustees Triumph" by Laura N. Coughlin and T. Robert Finlay from Wright, Finlay & Zak. In their article, the attorneys examine a recent decision by the Ninth Circuit Court that has barred claims against trustees in certain situtions. Delve into this article to see how the recent ruling may impact your business. Now back to the "Now What?" question we asked on our cover. While we've been flooded with more than a few challenges lately—both in our industry and in our individual necks of the woods—we're looking on the bright side. Instead of seeing it as a negative, we're viewing the recent flurry of adversity as a way to show, once again, how we band together to spawn positive results. As Joey Pizzolato so eloquently sums it up in his cover feature: "Unity, rather than division, will help weather the storm." It doesn't get more perfect than that. All my best, Rachel Williams Editor-in-chief FROM OUR DESK default servicing | in print and online VOL. 15 NO. 10 No part of this publication may be reproduced without written permission from the publisher. ©2017 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 detriments that may result from the use of these materials. PUBLISHER EDITOR-IN-CHIEF ASSOCIATE EDITOR ONLINE EDITOR DESIGN DSNEWS.COM VIDEO EDITOR ONLINE CONTRIBUTORS COPY EDITORS ADVERTISING DS NEWS 2017-2018 EDITORIAL ADVISORY BOARD Mark Hulme Rachel Williams Nicole Casperson Joey Pizzolato Jonathon Won Jordan Funderburk Brianna Gilpin Scott Morgan Aly J. Yale Alison Rich Suzanne Andresen: 207.443.3314 Kevin McCrea: 214.525.6756 Jason Myers: 214.525.6760 Robert Rakowski: 214.525.6783 Meg Burns, Financial Services Roundtable Kathy Cummings, Bank of America Jordan Dorchuck, BSI Financial Services Malloy Evans, Fannie Mae Yvette Gilmore, Freddie Mac Ramie Word, Nationstar Mortgage Follow DSNewsDaily on CHAIRMAN AND CHIEF CREATIVE OFFICER PRESIDENT AND CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER DIRECTOR OF ACCOUNTING PROFESSIONAL ASSOCIATIONS American Mortgage Diversity Council Legal League 100, National Mortgage Servicing Association, Property Preservation Executive Forum FORCE DESIGN Mark Hulme Ed Delgado John Harrison Ernest Gillespie John Golden: 214.525.6700 Derek Templeton: 214.525.6757 Annie Collier: 214.525.6740 Sean Walker Jason Stone Jonathon Won

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