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Where We've Been, Where We're Going T his month's MReport covers the gamut hinted at in the headline above, with insights from an industry veteran with decades of experience under his belt, on down to explorations of the challenges and opportunities this year has to provide. In our cover story, we profile Steve Jacobson, Founder and CEO of Fairway Independent Mortgage. Having founded the company in 1996, Jacobson details his company's employee-first mentality, and how an independent mindset has fostered its success. Next up, Rick Hall, SVP of Client Services at LoanLogics, examines "Why Repurchase Risk is Growing—And How to Manage It." He argues that quality control should be viewed not as a cost center, but as an investment that ensures future success. From there, we move on to "Don't Get Lost in the Margins," from Gerald Dorman, Regional VP at Nomis Solutions. Want to win the war on margin compression? Dorman suggests that it's time to think strategically. In "New Year, New Paradigms," you can learn why non-traditional options like iBuying are picking up steam and disrupting the residential real estate market. Those insights are from Matt Woods, Co-Founder & CEO at SOLD.com. Finally, don't miss "Authentic Intelligence: The New AI." This piece comes to us from Dan Harrington, CEO & Co-Founder of Usherpa. Check this piece out to learn why technology can't replace the human connection. Welcome to the February 2022 edition of MReport. David Wharton Editor-in-Chief 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 David Wharton EXECUTIVE CREATIVE DIRECTOR Jonathon Won CREATIVE DIRECTOR Jason Stone MANAGING DIGITAL EDITOR Eric C. Peck REPORTER Kyle G. Horst Demetria Lester MAGAZINE CONTRIBUTORS Gerald Dorman Rick Hall Dan Harrington Matt Woods COPY EDITOR Brandy Scott ADVERTISING 214.525.6700 EDITORIAL ADVISORY BOARD John Dunnery, VP, Government Loan Servicing, Community Loan Servicing, LLC Benjamin Gottheim, Director, Mortgage Servicing Policy, Freddie Mac Michele Kryczkowski, SVP Operations, Distributed Retail, Planet Home Lending Alex McGillis, Senior Director, Product Development, The Answer, Quicken Loans Erik Schmitt, Managing Director, Origination Division, Chase Home Lending Douglas Whittemore, Head of Default Servicing, US Bank Jacob Williamson, VP Single-Family Collateral Risk Management, Fannie Mae Kim Yowell, EVP of Servicing, Fairway Independent Mortgage Servicing Corporate Officers PRESIDENT & CFO Jonathan Hughes ART DIRECTION Jordan Funderburk, Jason Stone, Jonathon Won No part of this publication may be reproduced without written permission from the publisher. © 2022 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.