TheMReport — News and strategies for the evolving mortgage marketplace.
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MNOTES T he mortgage industry has its eyes fixed on millennials, cele- brating their entry into the market and eager for more millen- nial action in the near future. While some market barriers re- main, the housing industry as a whole and all of its participants have made many innovations that attract and benefit the young homebuyer. Our cover story, "The Chase is On," by Brian Lee takes an in- depth look at what JPMorgan Chase is doing to market to millenni- als. While marketing ROI is always elusive and difficult to measure, Chase is certainly capturing a significant portion of millennial market share. Brian Lee introduces the trailblazer who found a way to reach millennials in a meaningful way. In "A Spoonful of . . . Clarity," Andrew Bon Salle shows us how Fannie Mae's Day 1 Certainty helps clean up some of the alphabet soup of data standards set in place over the past several years, giving lenders more assurance against representations and warranties—and hopefully, ultimately, making lending more desirable and credit more accessible. Next, Joanne Gaskin walks us through new consumer reporting regulations in "Knowing the Score." She explains the impact of the National Consumer Assistance Plan's removal of certain public record information from consumer credit data. Lastly, in "Modernizing Notarizing," Pem Guerry reveals another aspect of the mortgage process that is abandoning the paper trail in favor of the digital highway. In our highly digitized and speed-driven world, millennials will no doubt appreciate this innovation. Captivating millennials, making financing available, and ensuring the homebuying process is as simple and efficient as possible will help to keep homeownership attainable and desirable for future generations of homebuyers. All my best, Rachel Williams 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. 2 | TH E M R EP O RT EDITOR-IN-CHIEF Rachel Williams ONLINE EDITOR Brianna Gilpin ONLINE CONTRIBUTOR Scott Morgan COPY EDITORS Krista Franks Brock Aly Yale CONTRIBUTORS Andrew Bon Salle Joanne Gaskin Pem Guerry Brian Lee CREATIVE DIRECTOR Jason Stone ART DIRECTOR 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) Robert Rakowski (214.525.6783) PHOTOGRAPHER Karl Ault, Kault Photography 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 Jason Stone Sean Walker Jonathon Won PROFESSIONAL ASSOCIATIONS American Mortgage Diversity Council: John Golden (214.525.6700) Legal League 100, National Mortgage Servicing Association, Property Preservation Executive Forum: Derek Templeton (214.525.6757) FORCE: Annie Collier (214.525.6740) No part of this publication may be reproduced without written permission from the publisher. ©2017 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. Notable Names and Industry- Changing Solutions