GENERAL SESSION: Top Insurance Issues for IMBs
Today’s insurance crisis is hitting IMBs hard from both sides. Join a frank discussion of the challenges of qualifying homebuyers with rising insurance costs and underwriting saleable loans that meet investor requirements.
Speakers
Moderator
About Matthew VanFossen Matthew VanFossen is the CEO of the Absolute Home Mortgage Corporation, a mid-size Independent Mortgage Banker located in Fairfield, NJ, and Mortgage Automation Technologies, a financial technology provider specializing in consumer mortgage technology. Matthew has been a driving force in the mortgage industry and is a respected figure in the community. Additionally, he serves as the president of the New Jersey Mortgage Bankers Association. VanFossen's passion for innovation and the industry is evidenced by his numerous industry achievements. He has been named a "Top Mortgage Professional Under 40" by National Mortgage News and has been featured in various publications, including Forbes, Scotsman Guide, and HousingWire.
Speakers
Justin Demola, CMB, is President of Lenders One® Cooperative and Senior Vice President of Origination Solutions for Altisource. As president of Lenders One, Justin leads its day-to-day operations and strategic execution. With nearly 30 years of mortgage, consulting and business development experience, he brings extensive leadership know-how to the role. He joined the organization in 2019 as Vice President, Sales and most recently served as Managing Director. Before that, Justin served in prominent positions at several independent mortgage banks, including Chief Operating Officer of MLB Residential Lending, LLC and President of The Hills Mortgage and Finance Company, LLC. He is a licensed mortgage loan originator and Certified Mortgage Banker (CMB). In addition to his responsibilities at Lenders One, Justin serves as resident CMB instructor for the Mortgage Bankers Association (MBA)’s CMB Final Prep Course, where he shares his insight and support with current students. Justin serves on the Mortgage Bankers Association of New Jersey Board of Directors and is a member of the MBA MORPAC Committee.
Jay Jones is the Executive Vice President of Servicing for Mr. Cooper Group, one of the largest mortgage servicers and the largest non-bank servicer in the United States. Jay joined Mr. Cooper in 2019 and currently leads the company’s mortgage servicing organization, supporting more than 3.5 million customers. Jay has more than 25 years of experience in the mortgage industry, serving in various leadership roles and strategically guiding servicers through the ever-changing industry landscape. His responsibilities have ranged across a variety of functions including leading and managing capital marketing, analytics, credit management, servicing and special servicing. From 2009 to 2019, Jay served as an Executive Vice President at CIT Bank, OneWest Bank and IndyMac Bank. His achievements include helping turn around struggling servicing operations to profitability by streamlining processes and identifying opportunities for efficiency. He was instrumental in helping rebuild the Financial Freedom portfolio to be marketable to sell to a private equity firm. Additionally, Jay created a broker-dealer during his time at IndyMac Bank, fulfilling several important functions like providing investment and market advice and guidance to stakeholders as needed. His roots remain in accounting, where he began his career with Grant Thornton. Jay also currently serves on the board for Cyprexx Services, a premier national field services company. Jay holds a B.S. in Business Administration from California State University, Northridge.
Adam Shores is the Senior Vice President, State Government Relations. He previously was Vice President for State Government and Political Relations with the American Property Casualty Insurance Association, where he led government relations and advocacy efforts in multiple states. In this capacity, he advocated for public policy solutions benefiting insurance consumers and member companies. He also led APCIA’s state political strategy, including managing the organization’s corporate PAC priorities, political engagement efforts with national political organizations, and political action compliance. Prior to joining APCIA, he spent nearly 15 years with Allstate Insurance Company where he directed strategic advocacy programs on several key public policy priorities. Throughout his career, he has developed extensive experience in government relations, political engagement and public affairs in both the public and private sectors. He has been on the forefront of many insurance-related legislative initiatives and has extensive experience in grassroots engagement, issue advocacy and PAC management. Prior to joining Allstate, he used his talents as a strategist and communicator in various roles while serving as a speechwriter in the administration of former Florida Governor Jeb Bush; a regional media director for the National Federation of Independent Business; a spokesman for the Florida Department of Education; and a legislative analyst in the Florida Senate Majority Office. Adam holds a Bachelor of Science in Politics and Journalism from Troy University, and a Master of Professional Studies in Political Management from The George Washington University. He served as a member of the Grayslake city council.
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