TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/1488302
Braving a New Landscape I wanted to take this opportunity on behalf of the Five Star Institute to wish you all a very happy and joyous holiday season, and healthy and prosperous 2023. The year, 2022 certainly took us all on a rollercoaster ride as high mortgage rates, and equally high home prices, forced many to the sidelines and brought the refi market to a slow trickle. Continued economic uncertainty has left many prospective buyers outside the proverbial home purchase sandbox, and many top economists are predicting a recession in the near term. This month, MReport was fortunate to hear from some of the mortgage space's top economists and other experts as they tackle the tough questions being asked as we enter a new year of uncertainty. In "Navigating Stormy Seas," we hear from Daren Blomquist, VP of Market Economics for Auction.com; Dr. Robert Dietz, Chief Economist & SVP of Economics and Housing Policy for the National Association of Home Builders (NAHB); Danielle Hale, Chief Economist for Realtor.com; Odeta Kushi, Deputy Chief Economist for First American Financial Corporation; Dr. Jessica Lautz, Deputy Chief Economist and VP of Research for the National Association of Realtors (NAR); Rick Sharga, EVP of Market Intelligence for ATTOM; Stephanie Singer, Senior Director, Industry Marketing and Communications for Realtor.com; and Tim Rood, Head of Government and Industry Relations for SitusAMC. This distinguished panel covers the gamut of what 2023 can bring, from the direction the market is heading, to keeping pipelines full in an erratic marketplace, to the role tech will play in the mortgage space, and much more. Also this month, Michael Isaacs, CEO of GO Mortgage, examines some unexplored avenues that mortgage professionals can pursue to keep their pipelines full in his article, "Seizing Untapped Opportunity in Construction Lending." And despite the current low activity in newly built homes, Isaacs explains that construction lending presents long-term potential. As the industry takes steps toward an all-digital process, Joey McDuffee, VP of Sales & Marketing at Blue Sage, presents his take on industry advancements in "How the Cloud Accelerates Mortgage Innovation." As McDuffee details, there is no one single solution in the tech world that answers the question of "are we yet at an all-digital mortgage process?" It takes a number of moving parts working on unison to achieve a positive end result in achieving the American dream of homeownership. All that and much more in this month's issue of MReport. Again, cheers to a fantastic start to 2023, and keep an eye out for a very special announcement in the coming weeks from the Five Star Institute that will change the way you receive the latest news in the mortgage marketplace. 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 ART DIRECTOR Jason Stone MANAGING DIGITAL EDITOR Eric C. Peck REPORTERS Kyle G. Horst Demetria Lester MAGAZINE CONTRIBUTORS Mike Albanese Christina Hughes Babb Michael Isaacs Joey McDuffee COPY EDITOR Brandy Scott ADVERTISING 214.525.6700 EDITORIAL ADVISORY BOARD 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, 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.