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The Week Ahead: Where the Industry Is Headed in 2022

This year served as a time of transition for the default servicing industry. The nation shook off the effects of the pandemic, braced itself for the surge in forbearance exits, and the foreclosure moratoria began to expire.

In next week's "Reflections and Projections" webinar, Rick Sharga and Ed Delgado will look back on 2021 and discuss how the industry must conform to changes in compliance, the marketplace, and the needs of customers to properly prepare for the coming year.

To register for this exclusive DS News webinar, click here.

Industry leaders Sharga and Delgado will be discussing hot-button issues including:

  • Foreclosure Outlook: The government's foreclosure moratorium is over, temporary servicing rules are in place through the end of the year, and the CARES Act mortgage forbearance program is winding down. Does this mean we'll see a big lift in foreclosure activity in 2022? Will the market continue to be virtually foreclosure-free, go back to normal levels of foreclosures, or see a spike like the one we saw during the Great Recession?
  • The New/Old Regulatory Outlook: The CFPB has a new enforcement-minded Director (the Bureau announced plans to hire 30 additional enforcement agents), who's listed Mortgage Servicing and Lending Discrimination as two of his main areas of focus, and has put servicers on notice: "Unprepared is unacceptable." How will the servicing industry work with the 1.2 million borrowers still in the forbearance program, and many more who are delinquent and not in forbearance in a way that keeps them out of the CFPB's crosshairs? And should they even be there in the first place?
  • Lessons Learned From 2021: Contrary to popular opinion at the beginning of the pandemic, the housing market didn't crash; in fact, 2020 and 2021 have been extraordinarily strong years for home sales and prices. But the pandemic does seem to have affected the types of homes people are buying, where they're buying them, and the way transactions are executed. What are these changes, and are they permanent or just a temporary response to exigent circumstances?
  • Outlook for 2022: What's been driving the strong housing market for the past 24 months, and will these factors (primarily demographics and low interest rates) continue to drive the market forward in 2022? What are potential areas of vulnerability in the housing market? Will the commercial market fully recover? And what's in store for the US economy in the year ahead?

Rick Sharga

Rick Sharga is the EVP of RealtyTrac, a leading foreclosure search and discovery website used by real estate agents and investors. One of the country’s most frequently quoted sources on real estate, mortgage, and foreclosure trends, Sharga has appeared on CNBC, CBS News, NBC News, CNN, ABC News, FOX, Bloomberg, and NPR. Sharga is a founding member of the Five Star National Mortgage Servicing Association. He was formerly an EVP for Carrington Mortgage Holdings and Chief Marketing Officer of the company’s Vylla business unit. Sharga was previously the Chief Marketing Officer of Ten-X and Auction.com, the leading online real estate marketplace.

Ed Delgado - Five Star Global - 3.24.2020-BW

Ed Delgado

Ed Delgado serves as AMP, Managing Director, Mortgage Policy Advisors and as Chairman of The Five Star Institute. Delgado is a 25-year veteran of the mortgage industry, having held executive positions at Wells Fargo, Freddie Mac, and JPM Chase. He is the most recent past President and CEO of Five Star Global, a national trade and media group supporting the mortgage industry and mid-market M&A professionals. While at Wells Fargo, Delgado served as a representative to the U.S. Department of the Treasury, supporting efforts to develop programs to prevent residential foreclosures. As Managing Director of Mortgage Policy Advisors, he provides clients with keen business and strategic insights related to the mortgage market. Delgado is a current board member and Chair of the Development Committee for Operation Homefront, a national non-profit that provides critical financial assistance, long-term stability, and recurring support programs to veterans and military families.

About Author: David Wharton

David Wharton, Editor-in-Chief at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.A. in English and minored in Journalism. Wharton has nearly 20 years' experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionals. Wharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publications. He can be reached at [email protected].

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