Freddie Mac’s Loretta Ibanez: Innovating and Learning in a Fast-Fail Environment

first_imgSubscribe Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Home Values Hit a Low in Suburban U.S. Next: The Week Ahead: Treasury Budget Forecasts Potential Rate Changes in Daily Dose, Featured, Headlines, News, Technology Tagged with: artificial intelligence blockchain distributed ledger FinTech Freddie Mac Innovation Loretta Ibanez Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago artificial intelligence blockchain distributed ledger FinTech Freddie Mac Innovation Loretta Ibanez 2018-02-09 David Wharton The Best Markets For Residential Property Investors 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Freddie Mac’s Loretta Ibanez: Innovating and Learning in a Fast-Fail Environment Share Save February 9, 2018 3,428 Views center_img Home / Daily Dose / Freddie Mac’s Loretta Ibanez: Innovating and Learning in a Fast-Fail Environment Servicers Navigate the Post-Pandemic World 2 days ago Freddie Mac’s Loretta IbanezIn your job as Mortgage Innovation Director, what does a typical day look like?We have always done innovation at Freddie Mac, but we’re making big investments and improving our Loan Advisor Suite for our customers. Beyond just the sourcing side, now we also need to turn our attention to reimagining the servicing side. We need to look at other technologies. We want to innovate and learn in a fast-fail environment.We’re bringing all the lean-design thinking and agile methodologies to work in the lab. A typical day starts with an early morning stand-up session with the whole lab, and then we go to anything from a challenge session on down payment assistance to sprint planning for servicing initiatives to working in my space. I’m working with vendors on artificial intelligence technology, collaborating with my IT partners, and also cloud strategy. I’m working on getting us to the cloud.There are many issues regarding how do you do that safely and how do we protect all of these borrowers’ privacy. We cannot break the public trust. We have to go to the cloud because of the speed and scalability that’s available, but you cannot do it in a way that’s going to compromise privacy. We are working hard to figure out how to leverage all the new technology to improve the customer experience, to make it cheaper and faster for our customers to originate and service loans and still do it safely.What are some of the most challenging issues when it comes to trying to move things to the cloud, other than the privacy side of things?We’re talking about an industry where, in all 50 states and at the county level, the real estate and lending laws can be different, and the foreclosure laws. Things are done on different forms. The data is not standardized, so bringing all these fantastic, wonderful technologies and tools to a very non-standardized process is going to be a challenge.There are now tools moving in the direction of the democratization of artificial intelligence, and there’s been a lot of progress in that area. There’s been a lot less progress in figuring out how to integrate all these disparate data sources in a meaningful way so you’re not just getting noise out of the AI. You want to actually find signals in the data that you can do something with.What are some of the other technologies that you’re seeing that you think are poised to really have a big impact on the industry?I am a big believer that technology is fantastic and it can change people’s lives, but you need to know what problem you’re trying to solve. It starts right there. What problem are you trying to solve, and we need to be crystal clear about that.At Freddie Mac, we want to drive down our customer’s costs. We want to help them do that. We want to help them shorten the amount of time it takes to originate and service loans, and we want to take the friction out of the process.We have been told that entities like the Gates Foundation have funded a company to use blockchain and distributed ledger technology for medical records. They’re doing these things. It works. The question is, how do you make it work at scale, how do you make it perform, how do you do it affordably, and oh, by the way, how do you do it in an ecosystem where everything has to network and talk together?So, distributed ledger and blockchain is one thing. It’s not just an application for cryptocurrency. I think there are tremendous ways [blockchain] could be used in sourcing, servicing and nonperforming loans across the value chain.Robotic process automation—think of all the manual handoffs where there’s a person sitting in between two systems. There are huge opportunities there, and this not even disruptive technology. That’s system-to-system automation.I love the machine learning applications. That’s sort of from my background because I started as a finance person, but I really am just blown away by what we can do with the machine learning. It’s just amazing.What do you wish more people understood about your job?People come to Freddie Mac and stay, and there’s a reason. People are passionate about making sure that we have a strong housing finance system, and making sure that our customers are successful. We are rooting for each other because we are all trying to serve our customers and we want to make it better for our customers and for the country. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago For more insights into the technologies that are poised to impact the industry, check out the March issue of DS News, out soon.   Print This Post Sign up for DS News Daily Data Provider Black Knight to Acquire Top of Mind 2 days ago About Author: David Whartonlast_img read more

What David Luiz has said about Unai Emery ahead of Arsenal transfer

first_imgAdvertisement Unai Emery is set to be reunited with David Luiz at Arsenal (Getty)David Luiz is set to complete his shock move to Arsenal on deadline day and the Chelsea defender has already indicated that he would be happy to link up with Unai Emery.The Gunners have now agreed an £8 million deal with Chelsea for the 32-year-old, who is set to undergo a medical on Thursday.Luiz has briefly worked under Emery at Paris Saint-Germain in the summer of 2016 before the Brazilian completed his return to Chelsea.But Emery’s approach clearly left an impression on Luiz.ADVERTISEMENT‘Unai came to try to build a new philosophy and to try to gain the trust of the players, from the fans, from the club,’ Luiz said before Chelsea’s Europa League final clash against Arsenal last season. Metro Sport ReporterThursday 8 Aug 2019 8:08 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link24Shares Comment What David Luiz has said about Unai Emery ahead of Arsenal transfer Advertisement David Luiz spent a few weeks with Unai Emery at Paris Saint-Germain (AFP/Getty Images)‘I think he has been doing an amazing job.AdvertisementAdvertisement‘I had the opportunity to work with Unai for a few months. He’s a great guy, a great coach, a great person.More: FootballRio Ferdinand urges Ole Gunnar Solskjaer to drop Manchester United starChelsea defender Fikayo Tomori reveals why he made U-turn over transfer deadline day moveMikel Arteta rates Thomas Partey’s chances of making his Arsenal debut vs Man City‘He’s passionate. He loves his work. He likes to build teams who are spirited, play with passion and you can see that.‘He has had the opportunity to work with a lot of young players and I think they have understood his philosophy.’More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing Arsenallast_img read more

Oscoda Man Arrested for Assault with a Deadly Weapon

first_imgAddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThisOscoda — An Oscoda man is behind bars facing charges of felonious assault.Thirty-four year old David Martinez was taken into police custody following an assault with a deadly weapon. Police were called to investigate the incident around 4 a.m. on December 30th.The female victim stated that a man dressed in dark clothing knocked on her door and put a gun to her head. Martinez was arraigned at the 81st district court. His bond was set at $7500.AddThis Sharing ButtonsShare to FacebookFacebookShare to TwitterTwitterShare to MoreAddThis Tags: arrest, assault, assault with a deadly weapon, David Martinez, Martinez, Oscoda, PoliceContinue ReadingPrevious Michigan Man Detained in Russia on Suspicions of EspionageNext New Year’s Baby Arrives Early in Alpenalast_img read more