Day one of the 2024 Five Star Conference kicked off Tuesday at the Omni Hotel in Dallas, and featured an afternoon of education, highlighted by the Property Preservation Forum, presented by Forum Partners Brookstone Management and ZVN Properties Inc.
Property preservation remains a critical tool in helping prevent blight and ensuring that properties are returned to the market for future home buyers. Tuesday afternoon’s Property Preservation Forum featured execs from top field services companies and their servicer clients sharing their expertise on current trends and challenges within property preservation space.
The Forum got underway with Welcome Remarks from Tony Maher, EVP of Business Development with Cyprexx Services. Maher has more than 30 years of experience in the mortgage industry, working at a large mortgage servicer, Fannie Mae, and now with Cyprexx for more than 14 years. His experience spans across the entire mortgage industry, including loan origination, secondary marketing and most of the facets of the mortgage default process. As EVP of Business Development, he is responsible for growth at Cyprexx through sales and marketing, and manages client relationships for the company.
Maher introduced the first of several panels scheduled throughout the day, “From Deficiencies to Efficiencies.” This panel explored ideas about modernizing the practices and processes involved in inspections, hazard claims and disaster response, and rural and urban necessities. Taking part in the discussion were Candace Russell, VP of Post-Sale Activities, Default Servicing at Carrington Mortgage Services LLC; Yvette Gilmore, SVP, Servicing Product Strategy with ServiceLink; Michael Greenbaum, COO of Safeguard Properties; Tyler Herndon, Co-Owner/President of R-Eyes Asset Management.com; Keith O’Donnell, National Account Director with iVueit; and Jason Williams, Director with Fannie Mae.
The impact of natural disasters on the housing market cannot be overstated, but it can be mitigated. “A Scout’s Guide to Disaster Readiness” panel discussed all the current risks and challenges that investors face from the expanding threat of natural disasters. From increases in defaults, to decreases in property values, these economic impacts are all factors that come into play.
Panelists included Matt Pratt, Assistant VP with US Bank; Kerrie Crace, Director of Operational Initiatives with Brookstone Management; Johanna Granados, Account Executive with Verisk; Jason Myers, VP Business Development with MCS; and Mitch Patel, Director with First Allegiance.
Panelists covered how to overcome these challenges with powerful solutions—communication, damage discovery, disaster prep, and technology … leaving all attendees with a better understanding of proper disaster readiness.
Panel three of the Property Preservation Forum, “Building Blocks: Property Preservation’s Role in Community Resurgence,” centered on the impact of vacant and distressed properties on their local communities. Panelists for “Building Blocks” included Micole Booker, VP, Mortgage Default Operations for VRM Mortgage Services; Melissa Bussey, Executive Principal with Xome; Talia Ramirez, SVP with Spectrum Solutions Acquisitions LLC; LaQuanda Sain, EVP of Servicing with Rocket Mortgage; Elizabeth Squires, AVP Client Account Management with Safeguard Properties; and Toby White, FVP, Director, Investor Claims with Flagstar Bank. The panel explained how lower property values, increased crime rates, and the propagation of blight could be avoided through property preservation initiatives. They discussed many of the existing challenges that hinder effective community revitalization efforts, including political red tape and a number of other factors.
In the fourth and final session, the aptly titled “Pol·i·cy (n), a course or principle of action,” discussed how policy shapes every decision and outcome, while influencing every facet of our actions. The “Pol·i·cy” panel included Raquel Pasala, VP National Sales Executive with ServiceLink; Mike Blair, COO with LoanCare; Kimberly Dawson, SF Collateral Risk-Real Estate Asset Management Director with Fannie Mae; Denia Ray, VP, Property Preservation with ZVN Properties; Roger Stotts, Chief Servicing Officer with New American Funding; and Eric Will, REO Senior Director with Freddie Mac.
Panelists covered the strategies and principles guiding property preservation today, with a focus on solutions tailored for coverage in highly rural areas, diverse population aggregates, and the latest interpretation of the CFPB’s regulations in “current.”
The Property Preservation Forum was just the tip of the iceberg in terms of education presented at this year’s Five Star Conference. Wednesday will feature the MTech Forum, featuring experts taking a deep dive into how technology such as AI and cybersecurity, may be driving the industry forward, but is also creating hazards that must be addressed and accounted for as we move forward.
Also on Wednesday, the Single-Family Rental Roundtable will feature investors, service providers, and subject-matter experts exploring how factors such as inflation, escalating interest rates, and affordability concerns are impact the ongoing growth and investment opportunities in the single-family rental market.
And Wednesday’s Mortgage Servicing Forum brings together top mortgage servicing executives and government representatives to discuss the challenges facing the industry and determine the best paths forward, as loss mitigation and navigating compliance concerns remain hot topics in an uncertain election year.
Click here for full details on the 2024 Five Star Conference.
