[Liveblog] Reconstructing Servicing to the New World Order
[11:30 a.m.] We’re done… [11:25 a.m.] Large servicers have done a great job of driving technology. Leads to efficiency. Smaller companies that focus on value add side, focus can be on making sure that more customized servicer, other than just driving cost, are provided.
[11:20 a.m.] Send your questions for this panel to firstname.lastname@example.org [11:17 a.m.] Regarding transparency–there has been an uptick in the effective, easy delivery of data to clients. Taking servicing to another level, panelist says. [11:15 a.m.] Operating advisors under Dodd Frank will be much more aggressive, involved from Day One. [11:10 a.m.] Dodd Frank doesn’t directly affect servicing, but some of its provisions have a roundabout effect. Like the Volcker rule. [11:05 a.m.] Bullish on servicing space going in to 2013, one panelist says. Swinging more to a growth environment, short of macro issues that could come to bear. Moving to regulatory issues: If the rules apply to every bank then they’ll figure out a way to compete. [11:00 a.m.] Servicers have had to take strategic looks at how they manage their portfolios. One panelist says that they’ve taken a hard look at the value of their commercial real estate expertise in order to better utilize resources. [10:55 a.m.] It has been important to reduce the cost of servicing and move resources as appropriate. [10:45 a.m.] This panel is being moderated by Marty O’Connor, EVP at KeyBank Real Estate Capital. Panelists include Jose Becquer (EVP and head of commercial mortgage servicing at Wells Fargo), Stacey Berger (EVP at PNC Real Estate/Midland Loan Services), John D’Amico (director, special asset management at TriMont Real Estate Advisors), Tim Mazzetti (EVP/partner at Cohen Financial) and Jan Sternin (senior VP and managing director at Berkadia Commercial Mortgage). [10:40 a.m.] People are filtering in slowly now for the Reconstructing Servicing to the New World Order panel–perhaps due to the abundance of parties that were held last night.