Henderson, NV (PRWEB) June 18, 2015
Henderson, Nevada – June 5, 2015 – The National REO Brokers today announced:
The 2015 National REO Brokers Association (NRBA) Annual Education Conference, which was held recently in Broomfield, Colorado at the Omni Hotel & Resort, was a tremendous success, according to Michael Krein, Ph.D., longtime president of this elite group of real estate professionals.
“Despite the incredible degree of change and in some cases, turmoil, within the housing and mortgage servicing industries over the past many months, our annual conference once again attracted NRBA members from all parts of the country who were interested in hearing insights about our business from NRBA directors, veteran members of our organization, and experts from many areas of our industry who shed light on where we are today and where we are likely headed,” Krein said. “Many of our valued clients attended and participated, as well.”
The annual NRBA Education Conference has long been recognized by industry veterans as one of the very best annual conferences serving the mortgage default servicing industry. This is primarily because of the high quality of educational presentations, panels, and roundtables offered by the knowledgeable industry leaders from major companies who participate in them. Many comments from this year’s attendees highly praised the event.
“This was a great gathering of diverse speakers who are industry experts giving us knowledge not only about the market we are now experiencing, but the market they expect to be coming our way in the next wave of potential foreclosures,” said Yvonne Barmettler, of Realty Executives Fine Properties in Scottsdale, Arizona.
Gaining knowledge while at the event was, of course, a major highlight for attendees, but several NRBA Members also reported receiving new REO listing assignments directly from clients attending the conference.
With respect to the belief that another wave of foreclosures is expected in the future, Krein gave his insight to attendees.
“The mortgage industry and in particular the default/REO industry has always been cyclical — Typically inversely related to the general real estate market,” Krein said. “However it is always the overheating of the general real estate market that normally foreshadows a strong REO market. We have now had almost six straight years of rising real estate prices in many markets – which is probably the longest continual uptick in real estate prices in many decades.
“The exact beginning and end of each cycle is never a precise point as there is always an overlap during the transition. This is exactly the point we are in now.”
Krein also noted that it should not be said that history is necessarily repeating itself, as each cycle can truly be considered somewhat unique.
“This next REO cycle will be unique unto itself as this cycle will be heavily influenced by some of the leftover problem loans from the last downturn, as well as new defaults that will be created based on the types of loans, servicing, and changing ownership of today’s more recently originated mortgages,” Krein added.
Rochelle Jones, NRBA Texas Master Broker associated with Keller Williams Realty in Houston, also had praise for the conference.
“The NRBA Conference this year was in a league of its own,” said Jones. “The diversified clients and presenters armed the participants with an arsenal of new business opportunities that many were not aware of.
“From asset managers to representatives from hedge funds and capital markets, to life planning experts and more, our close interactions with these different pillars of business have never been so valuable.
According to Jones, this year’s NRBA conference was not just about staying in business and maintaining the status quo, it was about growing your business and being the leader in your market. In one word, she felt the conference was “Epic.”
Some of the topics covered at this year’s education conference included: The Return of Mortgage Insurance; Property Preservation and Field Services; The Changing Nature of REO Outsourcing; Digital Marketing Strategies; HELOC issues; Working With Institutional Investors, and many more.
Among the many speakers, panelists and presenters were: Scott Cohen, CEO of The Life Planning Companies; Milt Shaw, SVP of PEMCO, Ltd.; Kurt Armbrust, Assistant VP for MGIC; Jim Tighe, SVP of MI Operations and Loss Management for Radian Guaranty; Jeff Woehr, Recovery Director for United Guaranty; Bubba Mills, Co-Owner and Executive VP of Corcoran Consulting & Coaching; Chris McMahon, VP at REO Management Solutions; Brian Brockman, CEO of Domus Asset Management; Jim Steffen, President of Phoenix Asset Management, and Justin Barr, Managing Principal of Loan Workout Advisors, to name but a few.
The NRBA was founded in 1999 by professional real estate brokers who specialized in the listing, management, marketing and sales of bank-owned real estate properties. The organization has a proud history as the premiere Realtor-related organization serving the mortgage default servicing industry.
For additional Information:
National REO Brokers Association
CEO, Michael P. Krein, Ph.D.
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