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WEDNESDAY, OCTOBER 20, 2010
- Training Registration Open - 8:00 am
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TRAINING SESSIONS - 9:30 am - 11:30 am
DON’T BE THE NEXT VICTIM OF THE REO RECESSION! Empower yourself to
run a PROFITABLE REO business, even if the asset flow is slow. Learn how to
build and rescue your REO business in today’s economy. Don’t miss a top real
estate agent and President of Club Wealth as he discusses how you can make
more money in REO right now!
Amongst many things, you will learn how to:
- Increase your success rate on cash for keys
- Run your business like a true CEO maintaining an active personal life
while earning a great living
- Implement best practices into your REO business that will increase
your production by up to 45% while decreasing your expenses by up
to 23% – all in the next 12 months
- Utilize your industry affiliations and memberships to skyrocket your
REO business this year!
- Avoid the 21 most common mistakes REO agents make that literally
cost one agent $300+ in one year
- Understand how asset managers secure agent and use 7 simple
ways to improve your scorecard in the next 30 days!
Industry experts have stated that HAFA is the best short sale program in the
nation, for both consumers and realtors. This session will educate you on how
to drive HAFA transactions for your business.
- Short sale and HAFA market update and insight
- Understand the current US distressed housing market and get an in
depth review of Treasury’s Home Affordable Foreclosure Alternatives
(HAFA) program
- Know key differences and unique details related to HAFA programs
implemented
- Receive HAFA program and Servicer updates
- Summit Registration Open - 12:00 pm - 7:00 pm
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TRAINING SESSIONS - 12:30 pm - 2:30 pm
This course provides REAL WORLD, HARD CORE, go out tomorrow and MAKE
MONEY selling short sales RIGHT NOW information you need IMMEDIATELY.
Learn from a top real estate agent why you must incorporate short sales into
your business or risk being left out of the current industry shift from REO to
short sales! Don’t find yourself unable to compete!
Topics covered will include:
- Utilize the top 3 lead sources used to generate more retail/short sale
listings in less than 12 months
- Discover tips on presentation skills that are guaranteed to drive success
- Generate great short sale results in the next 89 days
- Increase your production and decrease your costs over the next 12 months
- Discover the truth about Top Down Short Sales and what it means to your business
- Avoid the 20 career breaking mistakes short sale and retail agents often make
- Run your business like a true CEO, maintaining an active personal life while earning a great living
Learn the best process to close AS IS listings, increase the buyer population
and sell more homes. With the right recipe and you can find a dramatically
larger potential buyer pool. Simple homework steps will help you position
the buyer and the property so that both are prequalified and your deal will
close efficiently and on time. Learn from industry experts with up to 22 years
experience concentrating on the efficient delivery of these special financing
solutions.
Learning Objectives:
- Identify a larger buyer pool interested in AS IS Listings
- Discuss renovation loan opportunities
- Describe the stages and process of a renovation loan
- Profile the buyer and the property to insure success
- Discuss how renovation financing helps the consumer and the real estate professional
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TRAINING SESSIONS - 3:00 pm - 5:00 pm
Equator Agent Certification training consists of a 2 hour interactive session
and review of all features and services within the Equator Agent Platform.
Equator will be covering how to navigate around the Workstation, how to
work tasks assigned to you and how to upload documents. Managing offers
and counter-offers will also be covered along with discussing the Equator
Platform messaging and File Library features. Equator will leave you with
some tips regarding how to effectively market yourself on Equator and some
of their best practices for REO and Short Sale. The charge is $199 per person
payable at the time of REOMAC® registration. After the summit, as a registered
agent on the Equator Platform, your Equator account will be automatically
enrolled in Equator’s Silver Certification. For more information regarding
online certification, please login to your account on www.equator.com
This CAN’T MISS session explores the #1 question both seasoned and new
REO agents are asking.... ”How do I get more REO listing assignments?”
In this tough economy, Agents across the country are hungry for REO
assignments and are willing to do just about anything to get them. Does
experience and performance still get the business? Servicers and Asset
Managers are also feeling the economic pressure. What part do ethics play in
their commission and reimbursement policy and payments to Agents? This
will be a candid discussion from industry insiders clearly defining “what is”
and “is not” within ethical boundaries and the consequences for crossing the
line.
Topics to be discussed:
- The application process – best practices for how to get new clients
- Relationship building – when does “wining and dining” and gifts go too far?
- The Asset Manager Shuffle – when an Asset Manager moves, do you move with them?
- Performance Scorecards – how are they calculated and do they really matter?
- Commissions and reimbursements – what is the Client’s responsibility in the ethical treatment of Agents?
- Lender/Outsourcer Only Session – (by invitation only) - 3:30 pm - 5:00 pm
- Welcome Reception with Exhibitors - 5:30 pm – 7:00 pm
THURSDAY, OCTOBER 21, 2010
- Summit Registration Open - 7:30 am - 4:00 pm
- Exhibit Hall Open - 7:30 am - 4:00 pm
- Breakfast with Exhibitors - 7:30 am - 8:30 am
- Opening Remarks – REOMAC® President – Ivan Choi - 8:30 am - 8:45 am
- General Session I – Keynote Speaker – Stuart Varney - 8:45 am - 10:00 am
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General Session II – Town Hall Session - 10:30 am - 11:30 am
One of the most popular sessions of the REOMAC® Education Summit. Representatives of the mortgage industry and industry guests embark on a “no holds barred” discussion of such pertinent topics as the economy, loss mitigation efforts, class action lawsuits, legislation and much more.
- Lunch with Exhibitors - 11:30 am - 1:00 pm
- General Session III – Economist – Christopher Thornberg - 1:15 pm – 2:15 pm
- General Session IV – AREAA, NAHREP, NAREB - 2:45 pm - 3:45 pm
Marketing REO properties effectively, getting offers in and REO’s closed,
short sales – these are some of the hottest topics out there. Come join
representatives from AREAA, NAHREP and NAREB as they discuss these topics
and more in relation to the nuances of prospective purchasers from their
diverse cultures/communities. What are the biggest concerns/reservations
of these potential purchasers and what are the largest hurdles that need to
be transcended to bring these buyers to the closing table?
- President’s Reception – (by invitation only) - 4:15 pm - 5:30 pm
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REOMAC® Charity Auction and Reception - 5:30 pm - 8:00 pm
The silent auction and live auction offer an excellent array of wonderful items. The silent auction will close during Thursday’s Charity Auction and Reception and the live auction will be held during Thursday’s Charity Auction and Reception – be sure to attend! 100% of the proceeds from the silent and live auctions will go to the REOMAC® Scholarship Fund.
FRIDAY, OCTOBER 22, 2010
- Summit Registration Open - 7:30 am - 5:30 pm
- Exhibit Hall Open - 7:30 am - 5:30 pm
- Breakfast with Exhibitors - 7:30 am - 8:30 am
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BREAK OUT SESSIONS - 8:30 am - 9:30 am
Across the nation, judicial holdings from increased judicial scrutiny and/or
litigation have led to changes in various foreclosure processes. Come join our
distinguished panel as they discuss recent litigation trends and class action
law suits – what have been the allegations, what have been the results of
these cases and what changes to day-to-day operations are/may be required
of those involved in the mortgage industry.
PTFA, tenant lease programs, lease for deed programs, local statutes – it is a
whole new world for post-foreclosure occupied properties. Come join our
speakers as they discuss today’s variety of challenges in dealing with these
properties such as: complying with PTFA and local statutes, maintenance
of occupied, leased properties, dealing with Section 8, abiding by prior and
current lease agreements, moving forward with an eviction action.
What are your ethical obligations when dealing with a borrower, a prospective
purchaser? What if they have retained counsel? What if the borrower has filed
bankruptcy? What information needs to be disclosed as to an REO property?
Our panelists will be offering guidance on what your responsibilities are and
offer suggestions for handling situations such as these.
When a commercial mortgage loan becomes troubled, even before it goes
into default, the parties must quickly confront a number of issues. For the
lender, it is imperative that it conduct a due diligence review of its file, the
loan and the collateral as soon as possible. Should the default not be cured or
the parties not be able to restructure the loan, the lender faces the options of
foreclosing on the property, taking a deed in lieu of foreclosure or exercising
other remedies that may be available to it. But these steps pose additional
concerns that the lender must address, including potential lender liability
claims. In addition, the borrower may file for bankruptcy at any time. And as
more and more people are looking for ways to profit from the commercial
real estate downturn, potential buyers may be interested in the loan or the
property. REOMAC® commercial committee's efforts are to bring information
that will help all parties – the lender, the broker, borrower and the potential
buyer - understand the issues that exist at each stage of the process. The
advantages and disadvantages of each approach, as well as the potential
dangers will be discussed. Learn how to avoid problems and maximize your
success.
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BREAK OUT SESSIONS - 10:00 am - 11:30 am
Everywhere you turn, you can see, hear, read about another bill being
proposed that would affect the mortgage default industry – whether it be
on the local, state or federal level. Of course, not all proposed legislation
becomes a reality ... but keeping up with legislation that does get signed
into law and what may be coming down the road (and how it affects YOU)
is paramount. This is a must see session for everyone involved in mortgage
default.
We are all aware of the plethora of systems out there ... many times we have
no option as clients dictate our usage. But this is only part of what we should
be focusing on when it comes to technology – as our distinguished panel will
explain. The need for a disaster recovery plan, the protection of data integrity,
e-mail retention, privacy issues, the employment of efficient hardware and
programs are all critical issues that all of us need to be concerned about in this
technological age.
REO isn’t anything like a “normal” buy/sell transaction. The difference is
much more involved than just the fact that you are dealing with a foreclosed
property. Your clients are not “typical” clients –they are servicers, lenders,
outsourcers who have established timelines, systems, processes, requirements
and expectations. Do you have what it takes to be an REO agent? Come hear
from seasoned REO agents, servicers and outsourcers as they share the basics
of handling an REO portfolio and what may set you apart from all the rest.
Environmental hazards, code violations, damaged properties, vacant
properties – not only do these scenarios cause concern when a property
has gone REO ... but more and more lender/servicers are being called to task
before the foreclosure has taken place. Come here our distinguished panel
discuss the lender liability in the pre and post foreclosure realms, what is
being required of the lenders, and what lenders can do to protect themselves
and the mortgage property.
- Lunch with Exhibitors - 11:30 am - 12:30 pm
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BREAK OUT SESSIONS - 12:45 pm - 2:15 pm
Bankruptcy – the very word can cause a shudder to run down one’s spine.
What does that bankruptcy filing actually mean? Is the foreclosure sale
actually stayed? What if the seller in a short sale has a bankruptcy pending?
Come join our panelists as they delve into the world of bankruptcy and its
relationship to other matters. What are the real ramifications of a bankruptcy
filing – what does it really mean to a short sale, foreclosure sale or REO
closing.
Tornados, wild fires, oil spills, hurricanes – it seems the news is constantly
filled with stories of natural disasters (some assisted by mankind) wreaking
havoc somewhere in the nation. Properties damaged, properties destroyed,
jobs lost, environmental hazards created – these are just some of the very
real results of such events. How does a lender/servicer handle the aftermath?
What is the process if the loan has not yet been foreclosed? What if the
borrower’s default is a direct result of the disaster? What happens if an REO
property is damaged or destroyed? Come join our panel as they discuss these
and other issues stemming from natural disasters across the nation.
Short sales are being touted as a significant foreclosure alternative contender.
There is no argument that, when all else fails, a short sale is a benefit to a
troubled borrower. Yet, not all short sales result in a closing and many take
months longer than an REO closing. Come hear our panelists as they discuss
the nuances of short sales and REO closings – what are the challenges of each
transaction, what are the benefits of each, and, at the end of the day, does
either transaction carry more weight than the other?
Title clearance, contract preparation/negotiation and sealing the deal at
the closing table are important parts of the puzzle known as the closing
transaction. Many times, it may seem that these pieces don’t always fit
neatly into their spots on the puzzle board ... and the puzzle takes longer to
complete than originally expected. It may not always be clear what the issue
is, why it exists, whose fault it is (or isn’t!) or why a delay is occurring. Our
expert panel will discuss some of the challenges that can be faced at these
various stages of the closing transaction, the effect on the closing process
and possible resolutions.
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BREAK OUT SESSIONS - 2:45 pm - 4:15 pm
It has been said that the United States is one of the most litigious countries
in the world. Whether that is true or not is open for debate. However, there
is no denying the increase the mortgage industry has seen in litigation in all
areas of the default process. It is unrealistic to think that there is a way to stop
all litigation. However, there are ways to protect oneself – which may not
prevent a suit from being filed, but may prevent an adverse decision. Come
join our expert panel as they discuss some of the hottest litigation trends
and how those involved in the default industry can protect themselves and
minimize exposure.
REO properties are in a class of their own. Given the challenging real estate
markets found in many areas of the country how can one move these
properties off the seller’s books and into the hands of a new owner? Come join
our distinguished panel as they discuss the nuances of marketing, appraising
and financing REO properties. To every “problem” there is a solution – and
our speakers will share their expertise in how to market REO’s, how to handle
appraisal issues, and provide financing options for these properties.
So ... you are now an REO agent. You have the basics under your belt and
your REO portfolio is established. And – you are ready to grow and go to the
next plateau. Come join your colleagues and representatives of the servicing/
outsourcing shops as they address such questions as: how to maximize and
grow your office operations, how to manage and minimize reimbursement
losses, how to maximize office space and/or equipment, how to monitor and
discern market trends, how to position oneself for market changes/cycles,
and much more.
Foreclosure prevention has been and continues to be “the goal” – but how
close to the mark are we? Come hear our expert panel discuss the options/
programs out there (HAMP, HAFA, Short Sales, Mediation/Settlement
Conferences, Deed-in-Lieu’s). What have been the challenges, how successful
have the various methods been and what new options may be coming down
the pike?
- Lender Appreciation Reception in Exhibit Hall & Grand Prize Drawing - 4:15 pm - 5:00 pm
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