HOUSINGNEWS REPORT
HOW TO RECESSION-PROOF YOUR REAL ESTATE BUSINESS
MORE MARKETS WITH INCREASING FORECLOSURE STARTS
“For the most part, it doesn’t appear that most of the industry has done much in preparation for the downturn, as most of the recent focus has been on compliance and keeping abreast of advancements in eClosing and remote notary.”
METROS WITH ANNUAL INCREASE IN FORECLOSURE STARTS
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PATRICK STONE EXECUTIVE CHAIRMAN AND FOUNDER WILLISTON FINANCIAL GROUP
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much in preparation for the downturn, as most of the recent focus has been on compliance and keeping abreast of advancements in eClosing and remote notary,” he said. Insurance Services: Fixed to Variable Costs A recession could most obviously benefit companies like DIMONT that provide insurance claims services to mortgage servicers to help protect
the property collateral behind mortgages against natural disasters and default. “We would expect defaults to go up in a recession and so we would expect our volumes to go up dramatically,” said Denis Brosnan, DIMONT CEO. “It’s a significantly positive thing for volumes to grow … DIMONT did very well in the early stages of the last recession.”
But in the meantime mortgage foreclosure volumes are hovering at historically low levels except for some regional spikes caused by natural disaster, which means DIMONT needs to continue to focus on what has helped it succeed in both high default and low default environments: providing its clients with outsourced insurance claims services.
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SEP 2018 | ATTOM DATA SOLUTIONS
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