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Looking Ahead to the Future of Mortgage A s we leave a tumultuous and unpredictable year behind, many questions remain about what to expect from the year ahead. The housing market has remained a strong and stable bulwark amid the economic turmoil of 2020, but how will things change in the year ahead? MReport will be here, asking questions and sharing insights from the industry's subject- matter experts. In this month's cover story, "The Revival of Non-QM," we look at how this sector was hit hard in 2020, and non- QM leaders discuss how to not only bring it back but see it thrive in 2021. Read on for insights from Angel Oak Mortgage Solutions, Evolve Mortgage Services, Impac Mortgage Holding, Pacific Mortgage Capital, PCMA Private Client Lending, Planet Management Group, and more. In our first feature, "The Future of Mortgage Banking," Scott Gordon, CEO of Open Mortgage, shares insights about why striking the right balance between innovation and personal relationships is key to growth in uncertain times. Next up, in "Mortgage Tailwinds & Headwinds," Rohit Gupta, President and CEO of Genworth's U.S. Mortgage Insurance Business, discusses how first-time homebuyers managed to grow during the pandemic, and what's in store for them in 2021. Finally, in "Capitalizing on the Digital Push," we hear from Joey McDuffee, VP at Blue Sage, who asks what lessons were learned while fast-tracking digital trends into permanent solutions. Will lenders be prepared for what's coming next? Welcome to 2021, and to the January edition of MReport. Best, 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 EXECUTIVE CREATIVE DIRECTOR Jonathon Won CREATIVE DIRECTOR Jason Stone REPORTER Christina Hughes Babb Cristin Espinosa ONLINE CONTRIBUTORS Veronica Bradley Chuck Green Phil Hall Andy Beth Miller CONTRIBUTORS Scott Gordon Rohit Gupta Joey McDuffee COPY EDITOR Brandy Scott ADVERTISING 214.525.6700 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 CHIEF EXECUTIVE OFFICER Todd Storch CHIEF FINANCIAL OFFICER Jonathan Hughes ART DIRECTION Jordan Funderburk, Jason Stone, 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. Rachel Williams Editor-in-Chief MReport