Gearing Up for the Next REO Boom

The Five Star Institute, in partnership with NRBA (National REO Brokers Association), will present a webinar titled, “Are You Ready for the Next REO Spike?” set for Thursday, July 27 at 1:00 p.m. Central, as part of the Five Star Institute Webinar Series.

The Five Star Institute Webinar Series aims to broaden the horizons of the mortgage industry, serving as a source for complimentary insights and education about critical industry topics led by subject-matter experts and company sponsors.

It’s been well over a decade since the Great Recession and corresponding REO wave, and much has changed since then. Servicers, lenders, asset managers, real estate professionals, and all other REO professionals cannot afford to miss this no-holds-barred look at how prepared the REO industry truly is for increased activity, and what needs to be done in order to manage it successfully.

Join Five Star and the NRBA’s expert panelists as they take a practical approach to the strategic and operational elements that REO experts will need in order to master to process increased volumes to their clients’ satisfaction. Topics will include:

• Streamlined operations: Are you really using tech and organizing workflow for optimal volume, service levels, and turn-time?
• Compliance: The legislative/regulatory landscape has become substantially more stringent. Are you up on all the local, state, and federal requirements in the REO process, and do you have a plan to stay current at a time of rapid change?
• Partners and vendors: The REO process is never completed “in-house.” Are your key partners ready for any kind of volume surge … and how do you really know?
• Branding and public perception: “Foreclosure” has been demonized in the mainstream press and beyond, and lenders and servicers are perceived as the “bad guys” for legislators and regulators everywhere. But there are ways to emphasize the good in the industry, including community reinvestment, the reintroduction of inventory into a strapped marketplace, and the opportunity to provide homeowners with a better path to a second chance.

Speakers scheduled to share their insight at the webinar include: Michael Krein, President, Executive Board of the NRBA; Michael S. Olszewski, VP, Executive Board of the NRBA; Shaylene Ernisse, Director, Executive Board for the NRBA; and NRBA Directors Sarah Lin, Kimberlee McClellan, Chris Nelson, Cliff Ponte, and Henry Vega.

As President of NRBA, Krein has personally listed and sold in excess of 25,000 single-family rental (SFR) units over the course of his career. Krein was also the owner of numerous multi-office brokerage companies, both independent and franchised, including owning regions for national brands. He also serves as CEO of RIO Software Solutions, provider of RIO Genesis Software, and Managing Partner for House Karma, a digital ecosystem created to facilitate affordable homeownership and neighborhoods.

Since 1997, Olszewski has sold more than 18,000 REO properties (residential and commercial) with a sales reported in excess of $2.1 billion. He has offices in Chicago, Milwaukee, and South Florida. Olszewski has a well-deserved reputation for leveraging state-of-the-art marketing for each of his properties to reach any and all interested parties. He provides property valuations, short sale work, eviction and relocation assistance, and property preservation services. He has working relationships with a number of cities and municipalities, including with the city of Chicago, for which he has been a court-appointed receiver charged with rehabilitating distressed properties for 15 years. He has been a member of NRBA for more than 20 years.

NRBA Director Ernisse is the Designated Principal Broker of Keller Williams, LLC in Oregon, and Managing Broker of Keller Williams Olympic in Washington. She holds a dual residency in Portland, Oregon, and Seattle. Ernisse has served clients for more than 30 years, with a focus on REO since 2006.

Lin is a highly accomplished and dynamic leader with more than 18 years of real estate industry experience. A Director on the Board for NRBA, she is passionate about redefining real estate and delivering a superior level of service to her clients. A regular top producer in her community, Lin’s properties consistently achieve top-dollar values. Her multi-market expertise, strategic thinking, and tireless commitment to excellence result in optimal results for her clients on a regular basis.

McClellan has been a Broker Owner/Operator in the real estate industry since 2002. Under her leadership, her teams consistently manage high-volume production in multiple markets for HUD, GSEs, REO, REITs, corporate, outsourcers, hedge funds, short sales, retail residential, acquisitions, rehabilitation management, valuations, and property management for institutional and private clients. A Director on the Board for NRBA, she is an experienced resource for clients that count on her to implement process changes, participate in pilots, and deliver market-performance measures. Characterized by her attention to detail, punctuality, honesty, and commitment, McClellan is an outside-the-box thinker who thrives on networking and helping others.

A 23-year veteran of the real estate industry, Nelson serves as a Director on the Board for NRBA. A certified SFR and CDPE, Nelson successfully employs innovative property marketing and effective technology to excel with BPOs and short sales. A compassionate leader, his personal experience with foreclosures fuels his commitment to guiding clients through tough situations.

Ponte is a real estate broker and owner with a Keller Williams Franchise in Massachusetts and Rhode Island, and serves as a Director on the Board for NRBA. Leading one of the largest teams on the East Coast, Ponte has overseen more than $60 million in sales each of the past four years. A real estate and mortgage default veteran of over 15 years, he is routinely recognized among the top-performing brokers in the country. Ponte has served his community as an Acting Mayor as well as City Council President for four years, as well as creating a non-profit organization. His irrepressible entrepreneurial nature has also led him to become the owner of an iconic diner and coffee shop in Massachusetts.

Vega is an experienced, bilingual REO broker with more than 25 years’ experience, specializing primarily in distressed assets, short pay, foreclosure prevention, and REO. He also serves as a Director on the Board for NRBA. He currently partners with numerous banks, GSEs, and private institutions for the disposition of REO and other assets. Over the course of his distinguished career, Vega has sold hundreds of commercial and residential REO assets. He proudly serves clients throughout Southern California, including the Los Angeles Central Valley, and a number of rural areas.

Click here for more information on the Five Star Webinar Series event, “Are You Ready for the Next REO Spike?”