As another Five Star Conference has come to a close, the industry reflects upon the opportunities that engagement and learning the previous days have afforded.
Insights were delivered during the Five Star Conference Academic Labs, which provided opportunities of edification, as professionals came together to offer solutions for the issues that the industry faces through brainstorming of the brightest minds.
These sessions included honest discussion and dialogue, along with opportunities for attendees to ask questions and gain answers that have a meaningful effect on their businesses.
On Tuesday, the Foreclosure Lab commenced as industry experts identified advances in technology and process efficiency designed to expertly manage the foreclosure and bankruptcy process.
Compliance is a top priority for mortgage industry professionals, and this Academic Lab focused on effective servicing operations as this year brought new changes to both policy and regulatory oversight.
It has been a transformational year across mortgage servicing, especially when it comes to the challenges the industry is facing with the aftermath of several recent natural disasters. This Lab brought together mortgage servicing organizations, along with officials from the federal government to discuss implementation, best practices, and adjustments to a continually changing industry.
Robert Klein, Founder and Chairman of SecureView and Safeguard Properties said the academic labs provide a continuation of education to discuss these issues. In addition, the recent hurricanes discussed to provide insight into the different challenges the industry faces when recovering.
“I was involved years ago hands-on with Hurricane Katrina, which was the first disaster hurricane, one that the industry had never ever experienced anything close to it,” Klein said. “And all these issues came up and we dealt with it, but when it comes to Harvey and Irma, it’s a whole other level.”
During the Property Management Lab, policies and procedures mandated by the GSE’s to private investor requirements, the practitioners who ensure that the nation’s communities are maintained must be equipped with an understanding of current practices.
On Wednesday, the Investment Lab talked acquisition and disposition opportunities across real-estate, focusing on providing investors with information necessary to make informed decisions that point toward capitalizing on the value found in today’s marketplace.
The final lab was the REO Lab, which focused on the current state of today’s market and the challenges for agents, asset managers, investors, and servicing professionals while providing prospective solutions.
The opportunity for the mortgage industry as a whole to gather in one place is vital to the continued success and progress of the industry, and could not be accomplished without the dedication of so many committed professionals.
The Five Star Institute looks forward to another year of progress, collaboration, and service within the mortgage industry.