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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 2 August 2023 F R O M T H E E D I T O R TURNING TO LEADERSHIP IN THE FACE OF CRISIS T his month's issue of MortgagePoint magazine features an in-depth profile of Ann Thorn, Wells Fargo's Head of Home Lending Servicing and a former Five Star Lifetime Achievement Award winner. Thorn reflects on her 30-plus years in the industry, from her pre-mortgage finance industry days selling copiers out of the back of her car in South Chicago, to her current role leading one of the nation's largest mortgage servicers. We are fast-approaching the final quarter of the year, and with it, brings the 2023 Five Star Conference and Expo, celebrating the 20th year of the event. Set for September 18-20 at the Hyatt Regency Dallas, the event serves as the premier mortgage conference in the nation, attracting top subject matter experts, exhibitors, and thousands of professionals representing mortgage servicers, lenders, federal government agencies, financial services law firms, service providers, investors, and real estate organizations from across the nation. The 20th Annual Five Star Conference and Expo serves as a one-stop shop for all of your industry needs—from revisiting old acquaintances, to being introduced to brand new opportunities via Five Star's networking opportunities—the Conference brings a multitude of business-enhancing opportunities under one roof. For more information and an updated agenda of events, visit fivestarconference.com. This month, we also feature an article from John Wolfington, Principal of Exceler Building Solutions, who presents, "Investing in Opportunity Zone Funds for Business and Sustainable Construction." As Wolfington details, opportunity zones could represent a new avenue of revenue for some as by understanding the potential of investments in these zones, investors can maximize their returns and help promote green building initiatives. Exploring yet another potential channel of business, Shannon Faries, Director of Strategic Relationships for Land Gorilla, examines construction-to-permanent loans in his article, "With the Right Tools, Construction Loan Opportunities Can Blossom." As Faries explains, the continued demand for housing supply and lack of existing inventory are two major factors contributing to the construction-to-permanent loan as a means to compensate for lost volume in today's evolving marketplace. Steve Davis, CEO of Total Wealth Academy, mentors thousands each year on how to utilize real estate in order to build wealth. This month, Davis is sharing with the MortgagePoint audience his analysis of the 10 problems faced by buyers when seeking out rehab opportunities. As Davis explains, rehabbing a home for profit can be a lucrative proposition, but only if the project is treated like a business, as tight profit margins leave little room for mistakes. Rounding out our features this month, Lloyd Booth, Enterprise Solutions Executive, and Steve Wolfe, SVP of Banking and Fintech of CI&T, share some cost-cutting measures that can be implemented in a time of crisis. In "A Playbook for Mortgage Lenders in Capital Preservation Mode," Booth and Wolfe discuss how analyzing internal systems and processes can identify hidden risks and opportunities, and lead to preservation of bottom line in the end. We present all of this and much more within the pages of the August edition of MortgagePoint. David Wharton Editor-in-Chief © 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. Magazine EDITOR-IN-CHIEF David Wharton ART DIRECTOR Jason Stone MANAGING DIGITAL EDITOR Eric C. Peck REPORTERS Kyle G. Horst Demetria Lester MAGAZINE CONTRIBUTORS Lloyd Booth Steve Davis Shannon Faries Steve Wolfe John Wolfington COPY EDITOR Brandy Scott ADVERTISING 214.525.6700 EDITORIAL ADVISORY BOARD Benjamin Gottheim, Director, Mortgage Servicing Policy, Freddie Mac 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 EXECUTIVE ADVISOR Michael S. Waldron 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. © 2023 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. MortgagePoint strongly encourages the use of qualified attorneys or other qualified experts with regard to the subject matter covered. MortgagePoint 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.