TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/895084
MNOTES T he phrase "knowledge is power" is especially true in terms of the data that mortgage companies collect. This info is used to make decisions on who obtains a loan or contains financial information that is crucial to the company's survival. When this power falls into the wrong hands, the results can be disas- trous. Homeowners who trusted you can have their information sold and face identity theft issues for years. Clients who have paid you to streamline their processes could be vulnerable to having their entire systems wiped out. Reputable companies can have their name tarnished for years to come. In our cover story "Threat Assessment" we explore the top five ways companies are vulnerable to having their data hacked—brute force ac- cess, malware attack, phishing, privilege misuse, and physical theft. Most importantly, we outline how to keep your data safe and what to do if a hack should occur based on the experience and knowledge of some of the industry's leading technology experts. Next, in "Appraising the Appraisal" by Mercury's Jennifer Miller, we learn how data is helping to streamline the appraisal process by ensuring that lenders get completed reports quickly and accurately, appraisal fees are clearly understood, and closing schedules are met. Then, in "Raising the Standards of Success," MIAC's Dean Hurley and Jeffrey Zuckerman explore the new CECL Standards in terms of what they do, how they will impact the financial industry, and what it will take to implement them. We close our features this month with "The Rise of MERS," which catches up with the company's executives right after the MERS System hit its 100 million-registration milestone. The company has experienced both successes and setbacks in its existence that its CEO, COO, and Chief Legal and Legislative Officer all candidly share to help other companies manage their own growth. Lastly, in our Data & Analytics Guide, we explore the companies who are providing services that can help you take your data and analytics knowledge to the next level. Take a peek inside to find new business part- ners, or learn more about the tools revolutionizing the market today. 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 When Power Falls Into the Wrong Hands EDITOR-IN-CHIEF Rachel Williams ASSOCIATE EDITOR Nicole Casperson ONLINE EDITOR Brianna Gilpin ONLINE CONTRIBUTOR Scott Morgan COPY EDITORS Krista Franks Brock, Aly J. Yale, Alison Rich CONTRIBUTORS Dean Hurley Jennifer Miller Jeffrey Zuckerman CREATIVE DIRECTOR Jason Stone ART DIRECTOR Jonathon Won DESIGN DIRECTOR Sean Walker ADVERTISING Suzanne Andresen (207.443.3314) Kevin McCrea (214.525.6756) Jason Myers (214.525.6760) Robert Rakowski (214.525.6783) PHOTOGRAPHY Brett Ludeke photography 2017-2018 EDITORIAL ADVISORY BOARD Tim Anderson, Director of eServices at DocMagic; Kathy Cummings, SVP of Homeownership Solutions and Affordable Housing Programs at Bank of America; Maureen Davenport, SVP and Chief Communications Officer at Fannie Mae; David Gansberg, President and CEO at Arch Mortgage Insurance Company; Sharon McHale, VP of Corporate Communications & Marketing at Freddie Mac; Marion McDougall, EVP of Operations at Caliber Home Loans, Inc.; David Schroeder, VP of Claims at Mortgage Guaranty Insurance Corporation; Landon Smith, SVP- Strategic Sales and Enterprise Lender Relations, ServiceLink Kevin Wall, President at First American Mortgage Solutions 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, 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.