TheMReport — News and strategies for the evolving mortgage marketplace.
Issue link: http://digital.themreport.com/i/958155
MNOTES Using Tech to Adapt to Change I n an ever-changing industry, one thing is certain: Tech is king. The housing market will need to keep up with new innovations to guar- antee their survival. The only way to do that is by looking at the new tools at our disposal and the companies who create and use them. Part of survival is figuring out how to stay relevant. The process of staying relevant is explored in "A New Terrain" by Radhika Ojha. As the market improves its customer focus, lenders are beginning to take advantage of increased efficiencies in technological servicing. "Our customers want us to engage with them on mobile so we will have a very heavy emphasis on this aspect of technology as well," said Rocky Stubbs, SVP and Director of Direct Consumer Lending at Flagstar Bank. Cryptocurrencies, which use encryption techniques to regulate units of currency and verify transfer of funds, operate independently of a central bank and are just one of the many examples of rapidly advancing technol- ogy. Industry veteran Marvin Stone, SVP, Business Integration for Stewart Title Guaranty Company, reviews the latest tech trends and how we can use them to our advantage in "7 Bright Ideas Illuminating Mortgage Tech." In "Survival of the Fittest," Jane Mason, founder and CEO of Clarifire, discusses the inevitable disruption of deregulation and the market's struggle to persevere through difficult times. "Housing research and industry reports depict a sunny picture for the future of servicing, with delinquency rates returning to pre-recession levels, servicing entities of various sizes jockey- ing for servicing rights, and policies that promise to ease regulation," Mason writes. However, upon review by mortgage servicers, things may not be as bright as they seem. There are also real opportunities for many prospective homeowners on the horizon. While there's a general lack of understanding about non-Quali- fied Mortgage products, Planet Home Lending sales manager Joe Lam helps clarify how these products work in "The Mortgage Makeover." Lam writes about how an increasing number of non-QM products provide a trend which potentially could provide homeownership opportunities to millions. In the theme of adapting, MReport's Technology Guide offers businesses an advantage over the competition and an opportunity to align with some of the industry's foremost tech leaders. This issue speaks to the importance of adapting to change in the indus- try. How companies and professionals adapt to these changes could make or break their success. 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 ASSOCIATE EDITOR Nicole Casperson ONLINE EDITOR Radhika Ojha ONLINE CONTRIBUTORS Scott Morgan Alison Rich David Wharton COPY EDITOR Elizabeth Murray CONTRIBUTORS Joe Lam Jane Mason Marvin Stone 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) 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 DIRECTOR OF HR/ACCOUNTING Ernest Gillespie ASSOCIATE GENERAL COUNSEL Derek Templeton ART DIRECTION Jason Stone, Sean Walker Jonathon Won PROFESSIONAL ASSOCIATIONS American Mortgage Diversity Council John Rieger (214.525.6769) 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. ©2018 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.