A senior residential mortgage and tech executive with Accenture believes one of the major trends that emerged in 2012 is the banks’ willingness to conduct more short sales while continuing to pursue other loss mitigation efforts.
Ghazale Johnson, a senior executive with Accenture Credit Services, specializes in both residential mortgages and technology.
Johnson says servicers have “really embraced the short-sale concept,” and other loss mitigation tools.
What prompted the change, she says, is a recognition by Fannie Mae and Freddie Mac in 2012 that short-sales could be encouraged by simply making the process easier. Some of the 2012 short-sale changes included the removal of limitations associated with private mortgage insurance and pushback from second-lien holders.
The result, Johnson notes, was a greater willingness among servicers and lenders to push forward with short sales.
Johnson responded to the Federal Housing Finance Agency’s report of Fannie Mae and Freddie Mac foreclosure prevention actions rising 4% from the second quarter to the third quarter, calling it “encouraging” and a “win-win for servicers, investors and borrowers.”
Earlier on, she notes “complexities” affiliated with the short sale process made it a less likely method of limiting losses just a short few years ago.
“Lenders and buyers were stepping away,” she says, and the stigma of short-sales being too difficult to do took time to remove.
However, 2012 freed up the process, leading to positive gains in the amount of work-outs and short-sales executed.
As for what 2013 brings, Johnson says servicers had two years to focus on scaling their operations while also focusing on the development of their internal systems. Those changes were made in the wake of the crisis to respond to an influx of foreclosures.
With the hardest part over, she expects servicers to refocus on developing a long-term operating model for servicing loans. She sees a focus that will likely search for “cost-effective” and “strategic operating” models.
Break out the fireworks, shiny hats and confetti! It is time to say goodbye to 2012 and hello to the New Year and your 2013 resolution. As 2013 begins, consider how you can spice up your website or blog with new content ideas to inspire and excite your readers. Although most content found online is the written – or in this case the typed word, readers are more prone to share visually stimulating and interesting content that not only explains but also helps them to understand easily and quickly. Try the five content types below and become a resource for your site visitors this year.
Infographics are exactly that: a visual presentation of information or data. The art of designing and creating infographics includes combining large amounts of statistical information with easy to understand visuals. This creative way of presenting data has continued to gain popularity and is frequently used by magazines, newspapers and blogs. Readers prefer them to lengthy paragraphs because infographics make it easy to gather and comprehend facts quickly.
Well-designed infographics are centered around one topic, visually interesting and present a whole picture. From an in depth look at diabetes to a breakdown of who uses Instagram, infographics are optimized for easy comprehension and retention. A strategically executed infographic is not only interesting and informative, but plays to the psychology behind visual cues like color, shape, and shiny things.
With basic video editing technology coming standard on computers and most phones, videos offer an easy alternative to traditionally written content. Add video producer and director to your job description by filming and editing a video then posting it online directly from your iPhone.
Whether you are pulling at heartstrings or tickling a funny bone, make your viewers feel something to encourage sharing. According to Mashable.com, videos are shared twelve times more than links and text on social media sites. Making them a perfect option for blogs and websites to introduce written content, give examples, share tutorials or tell an entire story.
Try an instructional “How To” piece of content that explains each step in a process. Or write a FAQ post with answers to commonly asked questions from your readers. If you produce content for runners or athletes, consider publishing recipes for energy packed meals. Do you write a blog focused on the home? Try giving tips for better room organization or decoration. Think about the issues your readers may be having and help solve them. Keep in mind, successful problem solving content is easy to read and often bulleted or numbered.
There aren’t many things in the world that can’t be analyzed. Consider recent news that can have an affect on your readers. Examine current issues or industry changes. Give the facts and your opinion. If possible, gather information from other professionals and showcase both sides of the debate. Are you a financial institution? Construct a post regarding the pros and cons of a simple IRA. Do you aspire to be THE place to find sports updates? Compare the offensive playbooks of Notre Dame and the University of Alabama for the BCS National Championship game. Basically, do more that just present the facts. Give your readers something to think about.
Prezi is a zooming demonstration software that creates presentations that are a balance of minute details and the bigger picture. Each tells a story by magnifying small portions of a larger image. Prezi works to transform traditional presentations into unique conversations, making them an interesting addition to a website or blog. Each presentation works as a flowing, interactive storyboard that switches the viewer’s focus between a bird’s eye view and a magnifying glass. Specifically, Prezis are great for presentations, education, or to graphically explain a large amount of information.
Don’t forget to share your content over your social media profiles and other sharing sites like Digg, Delicious and StumbleUpon. By further pushing out your content onto the Internet, your infographics, videos, and posts have a better chance at reaching more readers.
Whether you have been creating interesting content for years or are just starting your own blog, give your readers something new to read this year. By varying the types of content you provide, you keep your readers engaged, invested and coming back for more.
Author Bio: Erika Karas is a Junior Account Associate at Search Influence a digital marketing firm in New Orleans, Louisiana. It is the never-ending domino effect of communication and engagement that makes her love of marketing burn so bright. When she isn’t working in the wild word of SEO and Google search rankings, she can often be found at her oven trying a new recipe or exploring the world through her camera.