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MNOTES Using the Keys of the Past to Predict the Future A s 2015 comes to a close, we can't help but ask, "What's next'?" Rather than wonder, we turned to the best and brightest of our industry to shine a light on what we can expect not just in the coming year—but the coming decade of the mortgage industry. In Fortune Tellers, Kerri Panchuk cuts through the uncertainty of the future by relying on the trends and data that have always pointed the way. Also providing guidance are mortgage professionals— such as Chase's Kevin Watters and the National Association of Home Builders' Gerald Howard—who have levered their years' experience to predict what the market will look like a decade from now. A key to the future of the mortgage industry is engaging the millennial generation. Weighing in on this hot topic is Patrick Reemts, VP of credit risk solutions for ID Analytics. In The Invisibility Cloak of Traditional Credit Scores, Reemts suggests a factor keeping millennials out of the market is that they are "credit invisible." Unlike their generational predecessors, Reemts argues millennials have not established the type of credit mortgage companies favor because of the recession. As Reemts shows, however, just because they aren't traditional, doesn't mean millennials don't have healthy financial habits. Next, the history and future of the servicing industry come together in The Ghosts of Servicing Past, Present, and Yet to Come by Clayton Fixed Income Services' Susan Connally. As director of surveillance at Clayton, Connally is well-versed in how servicing has changed in the last decade, and she uses this knowledge to gauge where the sector will go next. The challenges on the horizon range from compliance issues to keeping up with technology. But as Connally explains, being aware of the changes coming down the pipeline is the first step to meeting them head on. Dick Lepre and Robert Spinosa are also concerned with the future of housing and share their reflections on the current state of the industry in Crystal Ball. Both loan officers with RPM Mortgage, Lepre and Spinosa are on the front lines of the mortgage industry. While Lepre explores the impact student loan debt is having on 20-somethings qualifying for a mortgage, Spinosa juxtaposes what homeownership meant to his immigrant parents and his own role today as the gatekeeper to that dream for others. And of course, don't miss our Due Diligence Guide. Ensuring portfolios are strong, on a growth trajectory, and performing better than market expectations is the mark of a solid due diligence firm, and the companies featured in this month's guide are dedicated to the growth of the industry. All the best, Rachel Williams Editor 2 | TH E M R EP O RT EDITOR Rachel Williams ONLINE EDITOR Xhevrije West ONLINE CONTRIBUTORS Brian Honea Scott Morgan COPY EDITORS Krista Franks Brock Aly Yale CONTRIBUTORS Susan Connally Dick Lepre Kerri Panchuk Patrick Reemts Robert Spinosa CREATIVE DIRECTOR Jason Stone ART DIRECTOR Denis Kashoid Jonathon Won DESIGN DIRECTOR Sean Walker ADVERTISING Suzanne Andresen (207.443.3314) Robyn Clayton (214.525.6716) Kevin McCrea (214.525.6756) Jason Myers (214.525.6760) Lindsay Wolf (214.525.6713) CORPORATE OFFICERS CHAIRMAN & CHIEF CREATIVE OFFICER Mark Hulme PRESIDENT & CHIEF EXECUTIVE OFFICER Ed Delgado CHIEF FINANCIAL OFFICER John Harrison DIRECTOR OF HR/ACCOUNTING Ernest Gillespie ART DIRECTION Denis Kashoid Jason Stone Sean Walker Jonathon Won No part of this publication may be reproduced without written permission from the publisher. ©2015 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. © 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.