TheMReport

MReport October 2018

TheMReport — News and strategies for the evolving mortgage marketplace.

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MNOTES Speaking the Millennials' Language E ven as smart technology makes comparing and getting mortgage loans easier, homebuyers, especially young Americans, need the human touch, being able to speak with a person to clear their doubts or give the final nudge towards homeownership that the smartest AI platform can't provide. Our cover story, "The Millennial Mindset" explores the concerns of millennial homebuyers looking for mortgage options and services and how lenders can reach out to them more effectively through an expert panel discussion that advises on how to balance high-tech with a high-touch experience to help the hottest buyers on the block enter the housing market. In what is proving to be a difficult year for mortgage lenders, Eric Wilson of SLK Global examines what mortgage companies can do to reduce the cost of originating a loan and improving efficiencies in "When the Going Gets Tough." Ethan Dornhelm and Dr. Gerald Fahner of FICO give insights into how the evolution in machine learning innovations, are creating a more predictive credit score that aids both lenders and consumers in "Designing the Perfect Match." While Mike Eshelman of Jornaya investigates why the human touch remains important to retain customer leads in "The Personal Touch," Dr. Ralph DeFranco of Arch MI discusses the correlation between a housing market and affordability in "Location, Location, Location." The theme of balancing technology and personal interaction also runs through our origination guide featuring some of the foremost names in the mortgage business and what sets them apart in a highly competitive field. This issue also recognizes and celebrates the recipients of the inaugural Keystone Awards that were presented at the 15th annual Five Star Conference. These women through their leadership and commitment towards business, culture, diversity, and community are an inspiration for everyone in the mortgage industry and those looking to enter it. If there's one thing this issue speaks to is why in an increasingly technology-driven world, we still need that human interaction to make the right decisions and take the mortgage industry forward. Best regards, Rachel Williams Editor-in-Chief © 2011 First American Financial Corporation and/or its affiliates. All rights reserved. YOUR business is OUR business! First American Mortgage Services is laser focused on mitigating YOUR cost, risk and exposure by aligning our advanced solutions with YOUR strategic objectives and compliance needs. We are the New First American, over 120 years young, strong and financially secure. Insight | Innovation | Integrity First American Title Insurance Company and First American Mortgage Services make no express or implied warranty respecting the information presented and assume no responsibility for errors or omissions. FIRST AMERICAN and FIRST AMERICAN TITLE are trademarks owned by First American Financial Corporation. 2 | Th e M Rep o RT Publisher Jon Ball contributing editor Abby Gregory online editor theMrePort.coM Ryan Schuette coPy editors Alison Rich emily White Youree heather hill contributors phil Britt Bob Calandra eric Fox Jack Konyk Mark Lieberman creative director Jason Stone art director Jonathan Won associate art directors Bruce Sons Chanyanont Loha-Unchit design director Sean Walker advertising Dina Duncan (214.525.6740) Jason Myers (214.525.6760) Andi Zimmerman (214.525.6724) technology Toby Tull Brandon Shangraw social Media Leon McKenzie Ani Vera circulation/corresPondence Celina Avila corPorate officers chairMan & chief creative officer chief executive officer Mark hulme edward R. Delgado business develoPMent Andi Zimmerman chief financial officer John harrison director of huMan resources ernest Gillespie director of oPerations Toby Tull account executives senior account executive Donna Lott (214.525.6792) sPonsorshiPs Jason Myers (214.525.6760) account executives Renee Charles (214.525.6742) Thomas Griffin (214.525.6754) Kristin Larson (214.525.6713) Ryan McLemore (214.525.6706) Marketing Travis Bogdon Matt hulme Production Kyle Curtis Miguel Martinez Christian McCrossan concierge Celina Avila art direction Jason Stone Sean Walker Jonathan Won No part of this publication may be reproduced without written permission from the publisher. ©2011 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. MReport strongly encourages the use of qualified attorneys or other qualified experts with regard to the subject matter covered. MReport 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. FORDEFAULTSERVICINGPROFESSIONALS THEFIVESTARINSTITUTE Follow us. 2 | TH E M R EP O RT EDITOR-IN-CHIEF Rachel Williams ONLINE EDITOR Radhika Ojha ONLINE CONTRIBUTORS Seth Welborn David Wharton COPY EDITOR Dru Murray CONTRIBUTORS Dr. Ralph DeFranco Ethan Dornhelm Mike Eshelman Dr. Gerald Fahner Eric Wilson CREATIVE DIRECTOR Jason Stone ART DIRECTOR Jonathon Won DESIGN DIRECTOR Sean Walker ADVERTISING Suzanne Andresen (207.443.3314) Mohammed Elhindi (214.525.6713) Vanessa Foster (214.525.6734) Kevin McCrea (214.525.6756) Jason Myers (214.525.6760) 2018 EDITORIAL ADVISORY BOARD Tim Anderson, Director of eServices at DocMagic; Kathy Cummings, SVP of Homeownership Solutions and Affordable Housing Programs at Bank of America; Maureen Davenport, SVP and Chief Communications Officer at Fannie Mae; David Gansberg, President and CEO at Arch Mortgage Insurance Company; Sharon McHale, VP of Corporate Communications & Marketing at Freddie Mac; Marion McDougall, EVP of Operations at Caliber Home Loans, Inc.; David Schroeder, VP of Claims at Mortgage Guaranty Insurance Corporation; Landon Smith, SVP- Strategic Sales and Enterprise Lender Relations, ServiceLink; Kevin Wall, President at First American Mortgage Solutions CORPORATE OFFICERS CHAIRMAN & CHIEF CREATIVE OFFICER Mark Hulme PRESIDENT & CHIEF EXECUTIVE OFFICER Ed Delgado DIRECTOR OF HR/ACCOUNTING Jake Davis ASSOCIATE GENERAL COUNSEL Derek Templeton ART DIRECTION Jason Stone, Sean Walker Jonathon Won PROFESSIONAL ASSOCIATIONS American Mortgage Diversity Council, Legal League 100, National Mortgage Servicing Association, Property Preservation Executive Forum: Derek Templeton (214.525.6757) FORCE: Annie Collier (214.525.6740) No part of this publication may be reproduced without written permission from the publisher. ©2018 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. MReport strongly encourages the use of qualified attorneys or other qualified experts with regard to the subject matter covered. MReport 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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