DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/910243
ยป VISIT US ONLINE @ DSNEWS.COM 25 cannot be held by the reciprocity of the attorney fee provision of the contract. Judges will not find any entitlement of attorney fees to the borrower's counsels holding they have no right to the fees by contract or statute. With your 20-years' experience specifically devoted to business and real estate litiga- tion, what do you foresee is the biggest challenge firms will face in 2018? Really one of the biggest challenges in the industry, which is one of the best things about the industry, is the change in technology. Our industry has e-signing, e-filing, e-recording and most of the states are now moving towards e-notarization, where a document is notarized without having to be sitting in the same room as a notary. With all the technological changes and the block chain-type technology coming to the business community, adapting to these changes and being proactive in our practices to use the technology to the advantage of our clients and our firms will be our biggest challenge. What should law firms be doing to ensure that their business is stable and able to adapt to the ever-changing foreclosure environment? We always need to be thinking of our clients' needs and exactly where their pain points are. If we know where their pain points are, then law firms can be creative in finding solutions for them in 2018. Firms need be creative in our approach to new technology and be open-minded as how to use it, whether it's in doing our legal research online, which I think most already do, to us- ing the notaries online which is and will be a big change in the industry. More movement will be made by Courts and law firms to use e-signatures on documents along with the use of computers and ipads in court. In many states, the court allows firms to e-sign and requires firms to e-file all documents. Our legislatures and courts will become more current with the laws surrounding the electronic age. is year many state legislatures are passing legislation regarding on-line nota- rization as only a few states have adopted new rules to date. Firms also need to have the security in place that is needed, and to have the processes and procedures in place to make sure all private information is secure. ere are many things law firms can do to use the technology to their advantage and to the client's advantage, which will vastly improve communication along with the quality and quantity of work being completed. DS News is the only publication in the country solely dedicated to providing default servicing professionals with news and content focused on their industry. SUBSCRIBE TO THE LEADER IN DEFAULT SERVICING NEWS SUBSCRIBE NOW! Call 214.525.6700 or connect with us online at DSNews.com.