Day two of the 2025 Five Star Conference & Expo at the Omni Dallas Hotel began with another informative education session, as the Five Star Institute’s Legal League presented the Distressed Assets Forum.
At the Forum, presented by Altisource, several of the industry’s top servicers and attorneys collaborated on three panel discussions exploring the most pressing legal issues in default servicing, including foreclosure litigation, FHA/VA program reforms, and bankruptcy compliance.
David Demers, Partner with the firm of Cooke Demers LLC and member of the Legal League Advisory Council, welcomed attendees to the Forum and outlined the day’s agenda before introducing the first panel, “Bankruptcy Reform in Action: What Servicers and Firms Need to Know.” Featuring panelists Sarah McDaniel, Managing Attorney with McMichael Taylor Gray LLC; Jeffrey Fraser, Senior Partner with Albertelli Law; Brooke Sanchez, Managing Partner with McPhail Sanchez LLC; Cheryl Marchant, SVP, Servicing Manager with Freedom Mortgage; and Brooke Harris, Senior Loss Mitigation Analyst, Foreclosure & Bankruptcy with Freddie Mac, the discussion focused on recent updates to consumer bankruptcy regulations. With an emphasis on Bankruptcy Rule 3002.1, the panel explained how these changes will impact servicer accounting practices, borrower communications, and case management, and detailed exactly what law firms and services need to know in order to remain compliant. The session closed with a look at recent developments in bankruptcy case law, including how restricting online payment access for bankruptcy debtors constitutes a violation of the automatic stay.
The second panel of the morning, “Next-Gen Loss Mitigation: Navigating FHA & VA Program Overhauls,” covered the evolution of loss mitigation post-pandemic, and how major changes to FHA and VA programs are reshaping the servicing sector. Panelists LaQuanda Sain, EVP of Mortgage Servicing with Rocket Mortgage; Ryan Bourgeois, Partner with Barrett Daffin Frappier Turner and Engel LLP; Michael Merritt, SVP, Head of Default and Customer Care with BOK Financial; Caren Castle, Senior Managing Attorney with The Mortgage Law Firm; and Joshua Bishop, COO of Newrez|Shellpoint, delivered key updates, including the termination of COVID-era FHA programs and the launch of its new permanent toolkit right around the corner, featuring streamlined rules and revised face-to-face requirements. The panel of experts also examined the VA’s wind-down of VASP, and efforts to create a permanent partial claim option.
In the third and final panel discussion of the Distressed Assets Forum, “Complex Legal Issues in Foreclosure and Default,” experts in the field discussed the mounting regulatory scrutiny faced by the foreclosure and default servicing industries. A panel featuring Stephen Hladik, Partner with Hladik, Onorato & Federman LLP; Cheryl Marchant, SVP, Servicing with Freedom Mortgage; Clayton Gordon, Director of Default Mediation and Litigation with Carrington Mortgage Services LLC; Chris Baxter, SVP of Operations with Nestor; and Natalie Winslow, Attorney with Atlas Solomon LLP explored some of the industry’s most pressing foreclosure challenges, ranging from title defects, standing issues, and contested mediations, to procedural hurdles, statute of limitations nuances, and shifting interpretations of federal rules.
Running simultaneous to the Distressed Assets Forum, the day-long Real Estate Investment Forum (REIF) assembled the leading minds across the SFR, REO, and BTR spaces to dive deep into the opportunities and challenges shaping today’s real estate landscape.
Presented by Lead Sponsor Genstone Field Services, with Partners Black Dome Services, Rent to Retirement, Seek Now Inc., and Ternus Lending, REIF got underway with a Fireside Chat between Ed Fay, CEO of The Fay Group, and Bryan Lysikowski, President, Property Services Division with Fay Group/Genstone. The duo shared their insight into the investment landscape, capital trends, and asset class shifts.
With the Fireside Chat setting the tone, it was time for the “Seizing the Shift: 5 Proven Tactics to Source, Acquire & Scale SFR Portfolios” panel. A panel featuring Barry Owens, Chief Strategy Officer with Black Dome Services; Brandon O’Briant, EVP with AssetVal; Zach Lemaster, CEO of Rent To Retirement; Charles Tassell, State Director, Rural Development, Ohio with the USDA; and Sanket Kumar, CEO and Co-Founder of Honeycomb broke down some tips and strategies behind today’s top-performing portfolios.
This was followed up by the “Creative Capital: Lending Strategies That Unlock More Deals” discussion, an opportunity when panelists detailed some nontraditional solutions to implement to fund future deals in an uncertain rate environment. Panelists for this session included Tim Herriage, CEO of Ternus; Caroline Gim, REO Broker with Expert Real Estate & Investment; Mark Burch, BDM with Temple View Capital; Robert Jayne, Head of Originations, Construction Lending with Kiavi; and Samer Kuraishi, President and Founder of The ONE Street Company and ONE Street Commercial Properties.
Next up, the “Scaling from 10-100 Doors: Tech, Teams, and Tough Lessons” panel took a full dive into what it really takes to scale. A panel featuring Sebastian Stofenmacher, Broker with Edgestone Real Estate; Rochelle Jones, Broker Owner with Aplomb Real Estate; Norris Bishop, Broker with Norris Bishop Realty; Trish Beeman, Regional VP-Atlanta with Fay Servicing; and John Watt, VP, REI Program Manager with Unitas Financial Services explained how to overcome growth hurdles, chose tech solutions wisely, and build teams that deliver while scaling operations.
Next up, a panel featuring Paul Boudier, Agent with Keller Williams; Melanie French, CEO with RR Living; Ben Turner, Partner and Co-Founder with Invest With Roots; Bryan Jenkins, President of Property Management with Fay Group/Genstone; and DD Garzon, Co-Founder of PM Business Implementors and President-Elect of NARPM with Skyline Properties Group presented “Unlocking Hidden Profits: Revenue Plays You’re Probably Missing.” The group shared some secrets to unlock additional revenue, breaking down untapped monetization opportunities for operators ready to think beyond rent checks.
The final session of the day, “Five Essential Strategies for SFR & BTR Success: Source, Rehab, Manage, Exit,” walked attendees through the steps that top SFR and BTR operators use to take their business to the next level. Sharing their thoughts and expertise with attendees was the panel of Zach Bassett, COO of Property Masters Inc.; Ren Richards, Senior Director of Strategy with Seek Now; Eric Delgado, Director of MCM Capital; Tauheed Siddiqui, CEO of TAAS Investments LLC; and Dan Brady, VP Acquisitions/Dispositions with ILE Homes.
Tuesday afternoon also featured “The Mortgage Servicing Forum,” a gathering of leaders from across the servicing ecosystem discussing the most pressing challenges and emerging opportunities currently shaping the industry.
Presented by Advantage Foreclosure, Aspen Grove, Global Strategic, and National General Lender Services, the Forum featured a diverse slate of speakers, including servicing executives, GSE and government officials, legal and compliance experts, economists, and technology providers, this forum offers insights into regulatory trends, borrower engagement, portfolio management, and the future of servicing operations.
The “Market Pulse: Economic Trends and Servicing Outlook” got the Mortgage Servicing Forum underway with an expert-driven look at the state of the housing and mortgage markets. A panel featuring John Comeau, Policy Economist with the Council of Federal Home Loan Banks; Shawn Miller, Head of Business Development with Xome; Brandon Latman, SVP, Head of Default Servicing with Mr. Cooper; Candace Russell, VP, Post Sales Activities with Carrington Mortgage Services; and Daren Blomquist, VP of Market Economics with Auction.com examined key economic indicators, policy developments, and market headwinds, from interest rate volatility to housing supply constraints. The panel entertained questions and broke down what today’s market data is telling us, and what it could mean for mortgage servicers in the months ahead.
The Forum’s second session, “GSE Perspectives: Insights From Fannie Mae & Freddie Mac” featured the trio of Cristi Richey, VP, Servicing Business Account Management with Fannie Mae; Ben Gottheim, VP, Policy and SQA with Freddie Mac; and Marcel Bryar, Managing Director for Mortgage Policy Advisors LLC sharing the latest updates on servicing policies and initiatives designed to support U.S. homeowners. In today’s rapidly evolving market, aligning with GSE priorities is more important than ever for servicing professionals. Throughout the session, panelists explained how Fannie Mae and Freddie Mac are navigating current challenges, driving innovation, and working with servicers to strengthen housing stability.
And as mortgage servicers navigate a shifting regulatory landscape, deal with rising costs, and adapt to evolving borrower expectations, the ability to adjust and improve business efficiencies has never been more critical. The final panel of the day, “Layering in Business Efficiencies” brought together seasoned industry executives who explored how organizations are streamlining operations and optimizing workflows without compromising compliance or customer service. From automation strategies to data-driven decision-making, a panel featuring Rudy Casanova, President and CRO with Global Strategic; Brian Flaherty, CEO with Global Strategic Business Process Solutions Inc.; Michael Merritt, SVP, Head of Default and Customer Care with BOK Financial; and LaQuanda Sain, EVP, Mortgage Servicing from Rocket Mortgage shared their insights into driving sustainable efficiency across the mortgage servicing lifecycle.
Closing out a day of education, Five Star Conference attendees took advantage of a unique networking opportunity at The Five Star Block Party, an event that took the festivities to the streets of Dallas in front of the host hotel, featuring a backdrop of the Dallas skyline and lively entertainment. Lining the block, the Restaurants on Lamar hosted sponsored gatherings adjacent to the Block Party, capping off an incredible night of networking and exposure for all in attendance.
