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Shifting Mindsets T he housing industry is beginning to look past COVID-19, now looking at solutions for borrowers as they prepare to exit forbearance plans. However, the pandemic continues to impact everything from new and existing home sales, inventory, and the adaption of technology to the industry. The cover story for July's MReport delves into the new landscape of housing policies, as more cities and states stray from single-family housing. MReport spoke to industry leaders from Planet Home Lending, LendingTree, ACC Mortgage, as well as political leaders from Oregon and Virginia, about new laws that increased housing density. In "The Digital Necessity," Bill King, Chief Valuations Office, Bradford Technologies, discusses the importance of the digital transition and how proper virtual inspection require appraisers, and borrowers, to use the right tools. In "How Has COVID-19 Impacted the Underwriting Process?" Brian Kucab, Director of Underwritng, Genworth Mortgage, touches on the how lessons learned from the Great Recession can help during today's crisis. Finally, MReport spoke exclusively with Frank Pallotta, candidate for the U.S. House of Representatives for the 5th Congressional District of New Jersey. Pallotta, who has more than 20 years' experience in the mortgage and housing industry, spoke on current issues facing the housing and mortgage industries, what led him to politics, and how growing up in Queens prepared him for political aspirations. The housing and mortgage industry are changing, and at times daily. MReport's July issue takes a deep dive into the technology, policies, and the future of the industry. Welcome to the July issue of MReport. David Wharton Managing Editor 2 | M R EP O RT MNOTES © 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. EDITOR-IN-CHIEF Rachel Williams MANAGING EDITOR David Wharton REPORTERS Mike Albanese, Seth Wellborn COPY EDITOR Brandy Scott ONLINE CONTRIBUTORS Krista Franks Brock Andy Beth Miller CONTRIBUTORS Eric DeRosa Bill King Brian Kucab EXECUTIVE CREATIVE DIRECTOR Jonathon Won CREATIVE DIRECTOR Jason Stone DESIGN DIRECTOR Sean Walker ADVERTISING Kevin McCrea (214.525.6756) 2019-2020 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, Managing Partner, Excelsior Dynamic Corporate Officers PRESIDENT & CHIEF EXECUTIVE OFFICER Ed Delgado CHIEF FINANCIAL OFFICER Jonathan Hughes ART DIRECTION Jordan Funderburk, Jason Stone, Sean Walker, Jonathon Won No part of this publication may be reproduced without written permission from the publisher. © 2020 Five Star Global, 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.