TheMReport

MReport July 2022

TheMReport — News and strategies for the evolving mortgage marketplace.

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Adapt and Survive T echnology has done more than simplify many aspects of our daily life … it has become a necessity to exist in society today. As each upgrade and advancement is launched, we become in- creasingly reliant on the simplicity these digital options bring to our lives. This month, MReport has recruited a panel of seasoned industry professionals to discuss the state of tech in the mortgage space, and how digital processes have become the new norm in assisting Americans achieve the dream of homeownership. This month's "Mortgage Tech Update" examines the many ways in which the advent of tech in the mortgage marketplace has streamlined processes and operations, and despite its many advantages, the continued necessity of a "human touch" throughout the homebuying process. Keeping with the theme of technology, Jon Wierks of First American Data & Analytics discusses the next generation of Automated Valuation Models (AVMs) in his article "AVMs: Why One Size Doesn't Fit All." Wierks explains how not all AVMs are made the same, and how the right tool for one customer may not be best suited tool for another. In "Don't Expect a Complete Digital Home Closing Just Yet," Dominic Fahey, VP of Strategy for Doma, explains how the pandemic forced a major uptick in technology adoption, and how a hybrid model may not be ideal, but is a move in the right direction. Switching gears a bit to drive business through the door, mortgage marketers are beginning to lean more on lead providers to maintain volumes. However, as Rob Rokoff of Verisk Marketing Solutions explains in his article "Firing Up Marketing Efforts as the Market Cools Down," there are privacy and regulatory issues to navigate in order to avoid legal loopholes down the line. Also this month, Cyndi Danko of Fannie Mae, in her article "Fannie Mae Op-Ed: Making Rent Count," explains how the GSE's move to account for rent payment history is helping more Americans qualify for a mortgage. All this and the latest industry news can be found in this jam-packed edition of MReport. And in keeping with this month's theme of technology and all things digital, visit digital.themreport.com to access electronic editions of previous issues of MReport, or visit www.themreport.com for the latest news in the mortgage finance space as it breaks! 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 Cyndi Danko Dominic Fahey Rob Rokoff Jon Wierks 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.

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