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MNOTES Seasonal Shifts I t's getting hotter as July sets in, and we're not just talking about the weather. This month also heralds the peak season for the housing market as homebuyers and sellers compete for the hottest properties. This issue of MReport is all about these groups and the trends that are driving this buying season. First up is our cover story, "The Summer Homebuying Spree," in which experts explore the demographics entering the market for the first time, as well as the trends impacting the nation's hottest housing markets. Next, in "What Makes for a Hot Housing Market?" Danielle Hale, Chief Economist for realtor.com, takes a look at how the housing market is playing out in different ways for different groups, ranging from buyers and sellers to real estate agents. Hi-tech and high-touch are the driving factors for many trends influencing the housing market this year. In "Bridging the Customer Experience," Whitney Blessington, VP of Marketing and Sales Conversion for Churchill Mortgage, provides insights into how loan officers and real estate agents can work together to provide a cutting-edge customer experience in this digital era. Finally, when it comes to technology, Sue Woodard, Chief Customer Officer at Total Experts stresses the importance of lenders not losing the human touch if they want to effectively use technology to support a multicultural customer base in "Speaking the Language of Multicultural Borrowers." As this issue illustrates, changing demographics and borrower profiles mean that lenders will need to innovate their customer approach to stay ahead of the curve. Although technology will continue to evolve, the bottom line—serving the needs of homeowners—will remain. And MReport will continue exploring how the industry can best meet those needs. 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 ACTING EDITOR-IN-CHIEF David Wharton ONLINE CONTRIBUTORS Mike Albanese, Radihika Ojha, Seth Wellborn COPY EDITOR Brandy Scott CONTRIBUTORS Whitney Blessington Danielle Hale Sue Woodard CREATIVE DIRECTOR Jason Stone ART DIRECTOR Jonathon Won DESIGN DIRECTOR Sean Walker ADVERTISING Suzanne Andresen (207.443.3314) Kevin McCrea (214.525.6756) Korry Stagnito (773.800.2246) 2019 EDITORIAL ADVISORY BOARD Danielle Hale, Chief Economist, Realtor.com ® ; Ken Markison, Of Counsel, Weiner Brodsky Kider PC; Alex McGillis, Director of Product Development, Quicken Loans Erik Schmitt, Managing Director of Origination Division, Chase Home Lending; Rocky Stubbs, SVP, Head of Direct Lending, Flagstar Bank Corporate Officers CHAIRMAN & CHIEF CREATIVE OFFICER Mark Hulme PRESIDENT & CHIEF EXECUTIVE OFFICER Ed Delgado CHIEF FINANCIAL OFFICER Dirk Hobgood ACCOUNTING AND HUMAN RESOURCES MANAGER Jake Davis ART DIRECTION Jordan Funderburk, Jason Stone, Sean Walker, Jonathon Won PROFESSIONAL ASSOCIATIONS FORCE: Annie Collier (214.525.6740) Legal League 100: Lindsay Wolf (214.525.6786) American Mortgage Diversity Council, National Mortgage Servicing Association, Property Preservation Executive Forum: Derek Templeton (214.525.6757) No part of this publication may be reproduced without written permission from the publisher. ©2019 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.