One of the highlights Wednesday afternoon of the Five Star Conference at the Omni Hotel in Dallas was the Mortgage Servicing Forum, an event that brought together top mortgage servicing executives and government representatives to discuss the challenges facing the industry, while determining the best paths forward.
From loss mitigation to navigating compliance concerns and the potential industry impact in an uncertain election year, this year’s Mortgage Servicing Forum was presented by Forum Partners Aspen Grove Solutions, Global Strategic, National General Lender Services, and R-Eyes Asset Management.
Stephen Hladik, Partner with Hladik Onorato & Federman LLP and Chair of the Legal League, welcomed attendees to the Forum and outlined the day’s events, setting the stage for the Keynote Address & Fireside Chat.
David Sheeler, EVP, President of Mortgage Servicing of Freedom Mortgage delivered the session’s Keynote Presentation. As SVP and President of Residential Servicing at Freedom Mortgage, the serving group has significantly grown over the years and helped hundreds of thousands of customers through loss mitigation. Sheeler has held various roles in the mortgage industry, including EVP of Correspondent Lending and Branch Operations at W.J. Bradley Mortgage Capital, as well as the positions of COO, CFO, and Pricing and Trading Operations Manager in the Correspondent Lending division of JPMorgan Chase. He also earned a CPA while working at Deloitte & Touche LLP in the financial services group.
Sheeler was then joined by Neil Sherman, President of Schneiderman & Sherman PC and Advisory Board Member for the Legal League for a Fireside Chat, where the two discussed the changing landscape of mortgage servicing, the economic impact on borrowers, the importance of understanding financial health, and the evolution of loss mitigation.
Next on the agenda was a session titled, “A High-Level Perspective of the Mortgage Servicing Industry,” bringing together representatives from the servicer space, this panel broke down the current challenges faced in the servicing space. Panelists included Ryan Bourgeois, Partner with Barrett, Daffin, Frappier, Turner and Engel; Joshua Bishop, COO, Head of Servicing with NewRez; Rudy Casanova, President and Chief Revenue Officer from Global Strategic; Larry Goldstone, President, Capital Markets and Lending with BSI Financial Services; Ingrid Jaschok, SVP Default Servicing with Cenlar FSB; and Brandon Latman, SVP with Mr. Cooper delved into topics such as the looming CFPB amendments to Reg X and the effects of the “Show Me State” case on the foreclosure process.
One of the major highlights of the Five Star Conference is getting industry stakeholders in the same room as the industry’s policy makers, and the “Key Conversations With Government Agencies and Enterprises” session was a major draw. During this session, attendees had the opportunity to hear from industry leaders on recent changes, including reporting requirements for cyberattacks, VASP implementation, FHA Payment Supplemental, and other current issues impacting the servicing industry. Panelists Jane Bond, Managing Partner, Litigation SE with McCalla Raymer Leibert Pierce LLC; William Collins, Director, Servicing and Loss Mitigation with the U.S. Department of Housing & Urban Development (HUD); Rita Falcioni, Loan Management Supervisor with the U.S. Department of Veterans Affairs (VA); Ben Gottheim, VP-Servicing Policy with Freddie Mac; Leslie Meaux Pordzik, SVP, Office of Issuer and Portfolio Management with Ginnie Mae; and Charlotte Ritz, Associate General Counsel with Fannie Mae all offered that the best solutions will come about through open communication between government agencies and enterprises, servicers, and law firm representatives.
The fourth session of the day, a new series from the Library of Mortgage Servicing: “Mapping the Loss Mitigation Minefields,” provided key overviews of mortgage servicing’s most pivotal works. Panelists, including Clayton Gordon, Director, Default Mediation and Litigation with Carrington Mortgage Services LLC; Caren Castle, California Managing Attorney with The Mortgage Law Firm; Reg Shepherd, Executive Principal, Client Relations with Xome; and Shubha Shivapurkar, Senior Director, Loss Mitigation with Freddie Mac shared their “Tales From the Underwriter: Frighteningly Common Loss Mitigation Traps and How to Avoid Them.” Also discussed by those on the panel was an outlined of “Best Practices for Communicating Needs and Outcomes,” as well as “A Post-Chevron Regulatory World.”
Wrapping up the Mortgage Servicing Forum was an exclusive chat with Naa Awaa Tagoe, FHFA’s Deputy Director of Division of Housing, and Kent McPhail, Senior Partner with McPhail Sanchez LLC and Co-Host of the “What the M” podcast during the “Insight From the FHFA” session. The duo touched upon a number of topics, including the industry’s current and imminent pivotal points, as Tagoe shared the experiences that provided growth and wisdom throughout her career.
While the 2024 Five Star Conference offered a number of education offerings for all in attendance, the Mortgage Servicing Forum was unique in that it offered attendees the ability to hear from regulators and policy makers first-hand. Five Star’s Conferences offer this ability, not only at the annual Conference, but at several of the Five Star Institute’s regional shows held throughout the year.
Click here for more information on the Five Star Institute’s upcoming conferences, and click here for more information on the 2024 Five Star Conference.
