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Issue link: http://digital.themreport.com/i/1481918
Honoring Contributions From the Industry's Top Women A fter wrapping a very successful Five Star Conference and Expo in Dal- las in September, MReport is back with another jam-packed month as we present our October 2022 issue. Just 24 months into her stint as Head of Wells Fargo Home Lending, Kristy Fercho is spotlighted this month by MReport in our cover feature about challenges, victories, and the "extraordinary privilege" of helping people achieve the American Dream. We examine Fercho's career, entry into the mortgage finance space, and issues faced by those seeking homeownership opportunities in today's marketplace. Our focus on women in the housing industry continues this month, as MReport recognizes winners of the 2022 Women in Housing Leadership Awards, presented at last month's Five Star Conference and Expo. Turn to page 43 to read brief interviews with each of our winners. MReport also had the opportunity to chat with mortgage industry veteran Frank Pallotta as he approaches Election Day, campaigning for a Congressional seat in the 5th District of New Jersey. "When Government and Industry Meet," examines several housing and government-related issues, including what can be done to curb affordability concerns, lessons learned from the 2008 housing crisis, and combating homelessness, among other topics. Also this month, Todd Rasmussen, President and COO of Equity Valuation Partners, dives into the appraisal space to discuss how lenders and financial institutions can sometimes perform their own valuations of home loans on their books. And as markets continue to fluctuate and single-family home builds slip, the industry must adjust to keep volume steady, as multifamily builds and build- to-rent units are reaching historic highs. Trixy Castro, in her article "Learning to Pivot," discusses the surge in multifamily builds nationwide and who are occupying these units. Director of Strategic Relationships at Land Gorilla, Shannon Faries, discusses how construction loans can help offset market swings for lenders feeling the pinch in his feature this month, "Curing the Low-Volume Blues." And while the pandemic was a trying time for many in terms of talent retention, Brian Miller, SVP of Talent Acquisition at Planet Home Lending, details five keys to keeping key quality employees in his article this month, "Where the Grass Is Greener." Finally, Inlanta Mortgage President and CEO Paul Buege discusses navigating down cycles in the industry and where the housing market is headed in "Keep an Eye on the Future." For the most up to date industry news, please visit MReport on the web at theMReport.com for your daily dose of what is happening in the mortgage finance space. 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 CREATIVE DIRECTOR Jason Stone MANAGING DIGITAL EDITOR Eric C. Peck REPORTERS Kyle G. Horst Demetria Lester MAGAZINE CONTRIBUTORS Trixy Castro Shannon Faries Brian Miller 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.