1997 WESTERN STATES SERVICING CONFERENCE
Presented By:
ALAN
STEVEN WOLF
The Wolf Firm
A Law Corporation
500 Newport Center Drive, Suite 800
Newport Beach, California 92660
(949) 720-9200 Phone
(949) 720-9250 Fax
E-Mail:
Alan_Wolf@wolffirm.com
Web:
http://www.wolffirm.com
What
is the Internet and Why Do We Care?
1.
The Concept
a. The
History
b. A
Connection of Computers (Over 1,000,000)
c. Very
durable (Made to withstand a nuclear attack)
2. The Hype
a.
100,000,000 plus users
b.
50,000,000 web users
c. A
new form of communication
d.
E-Commerce
3. Easy Access
a. Online
Services
1) AOL - 8 million members
2) Microsoft Network
3) Compuserve
4) Prodigy
b.
Internet
Service Providers (Literally Thousands)
1) Phone Companies
a) GTE
b) PacBell
c) AT&T
2) Backbone Providers
a) MCI
b) Sprint
c) UUNET
3)
WebTV
3. Cost is Going
Down/Performance is Going Up
4. Bandwidth
a.
.3 K 1985
Modem
($600 to buy/$20 per hour access fee)
b.
28.8 K Most Modems Today
($100 to buy/$20 per month unlimited access fee)
c.
128 K
ISDN Line
($200 to buy/$80
per month unlimited access fee)
d.
1,500 K T1
($3,000 to install/$1,000 per month unlimited
access fee0
d.
1,500 K
ADSL
Line
($300 to buy/$100 per month unlimited access fee)
e.
10,000 K
Cable
Modems (Rental
included in monthly service/$40 per month)
5. This is generally no
additional charge for viewing a web page/the information is free.
6. We're at the same stage
as the early black & white tv's
7. The New Economic Order
a.
Disintermediation
b. From
Marketplace to Marketspace
What
are we going to discuss?
1)
E-Mail
2) The Web
3)
Production Has All The Fun
4)
Internet Starting Points For Mortgage
Servicers
a) Agencies
b) Appraisal Services
c) Credit Reporting Agencies
d) Federal Government Resources
e) Flood Determinations
f) Force Placed Insurance
g) Hazard Insurance
h) Mortgage Insurance
i) Mortgage Industry- Calendar
j) Mortgage Industry- General
k) Mortgage Industry- News
l) Mortgage Industry-Trade Groups
m) Regulations
n) Title Companies
5) Loan
Servicing Specific Applications
a) Online Discussion/Message Board Of Mortgage
Servicing Related Questions
b) Articles on Mortgage Servicing
c) Online Case Status
d) Missing Assignment Database
e) Mortgage Banking Training
f) Mortgage Banking Forms
g) Mortgage Banking Books Sold Online
6) Law Related
Information of Interest To Mortgage Servicers
a) Federal Information
(1) Cases
(2) Statutes
b) State Information
(1) Cases
(2) Statutes
c) Topical Materials
(1) Bankruptcy
(2) Environmental Law
(3) Financial Services
(4) Licensing/Regulatory
Compliance
7) General
News- News Services, Newspapers and Magazines
8) Reference
Material
9) Search
Engines
10)
Mortgage Electronic Registry System
(MERS)
What
are we not going to discuss?
1. Newsgroups
2. Listservs
3. Telnet
4. Gopher/Archie
5. Ftp
What are we trying to achieve?
1. More effective
communication
2. Lower cost.
1. The concept-
a. Comparison to Regular
Mail
b. Comparison to Fax
c. Comparison to Telephone
2. The format
a. name@domain name
b. (e.g.,
Alan_Wolf@wolffirm.com and
alanswolf@aol.com)
3. How do you find someone's address?
a. No comprehensive site
b. Search engines
1)
Switchboard
2)
Four11
2)
Infoseek
4. Legal Issues in use of e-mail.
a. Electronic Communications
Privacy Act
b. Potential waiver of
protections- (See article E-Mail Blues)
1)
Attorney-Client
2) Work
Product
3) Financial
Privacy
4) Trade
Secrets
c. Servicers should have a written
e-mail policy
c.
Encryption
How Does It Work?
1. Connection
a. TCP/IP
b. PPP
2. Browsers
a. Types
1)
Netscape
2)
Microsoft
3) Online
Service
b. How do you get them?
1) Buy
in computer store (about $40)
2) Download
beta version (free)
c. What do they do?
1)
HTTP
2)
Multimedia
a. Graphics/Pictures
b. Sound
c. Video
d. Virtual Reality
3)
Hyperlinks
a. Same page (Go to the
top of this page)
b. Same server (Go to
The Wolf Firm home page)
c. Different server anywhere in the world.
(Go to the London Times)
4. How does the browser find the Web
page?
a. Domain Names
1)
Descriptions
a) com- company
b) gov- government
c) edu- education
d) org- organization
e) net- network
2) Domain
Name
a) yourcompany.com
b) Example: wolffirm.com
3) Country
Code after domain name (e.g., uk- England, no country code on American
sites)
b. Uniform Resource Locator
(URL)
1) Hypertext
Transport Protocol (http)
2)
http://www.domainname.com (e.g.,
http://www.wolffirm.com)
5. Search Engines
a.
Hotbot
b.
Altavista
c.
Yahoo
Production Has All The
Fun!
1.
Brochure/Advertising/Marketing
2. Provide Information
a. Information about
bank
b. Information about
services
1)
Banking (e.g.,
Bank of America)
2)
Mortgages (e.g.
Countrywide)
a) Programs
b) Rates
3.
Loan
Applications
4.
FHA Connection
For Mortgage Servicers
Mortgage
Servicing Related Information
Loan
Servicing Specific Applications
Online Discussion/Message Board Of Mortgage
Servicing Related
Questions
Articles on Mortgage
Servicing
Online
Status of Case
Online Document
Imaging- Share an electronic file with all of your staff and
vendors!
Mortgage Banking Books Sold
Online
Law
Related Information of Interest To Mortgage Servicers
FEDERAL
INFORMATION
STATE
INFORMATION
TOPICAL
MATERIALS
GENERAL
NEWS-NEWS SERVICES, NEWSPAPERS AND MAGAZINES
REFERENCE
MATERIALS
SEARCH
ENGINES
The Wolf Firm
A Professional Law Corporation
18 Corporate Plaza Drive
Newport Beach, California 92660
(949) 720-9200 Phone
(949) 720-9250 Fax
E-Mail
us at Alan_Wolf@wolffirm.com
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