Asset Foreclosure Services (www.assetforeclosure.com) and FIS Default Solutions (www.fidelityinfoservices.com) co-hosted the Third Annual Regional Default Workshop at the Disneyland Hotel in Anaheim, CA on February 11, 2008.  The workshop focused on educating attendees (consisting of various lenders, servicers, and sub-servicers) on the current market trends, and providing the tools needed to successfully navigate these tumultuous times.   

“Providing knowledge on successful default strategies was the primary focus of this year’s panel.  When you are in a declining market, the risk factors become overwhelming, and finding new and innovative ways to address these hazards is the number one priority,” noted Eli Tene, President of Asset Foreclosure Services (AFS), and panel member.  AFS provides foreclosure processing (trustee), senior lien monitoring, bid at sale, and loss mitigation solutions in eight western states.  “Attendees explored the necessity of early detection of problem borrowers as well as distressed areas.” 

Raffi Tal, C.O.O. of I Short Sale, Inc., one of the nation’s leading short sale advisory firms, was also a speaker.  “There are steps that should be taken even before a borrower misses just one payment.  Exploring options sooner, rather than later, increases the potential for home retention and maximum recovery.”    

Other speakers included Susan Pettem, Senior Vice President at FIS Default Solutions, Paul Laird, Foreclosure/Bankruptcy Manager at Accredited Home Lenders, Eric Kramp, Senior VP at FIS Valuation Solutions, and Keefe Roberts, Attorney. 

“Having Keefe there was definitely an added bonus, as he provided some great perspective on the current legal issues lenders have been subject to, and also relayed important issues to look out for in the future.  Susan and Eric brought much needed solutions for those looking to outsource during the current surge, as it has become more important than ever,” stated Tene.  “Paul Laird from Accredited provided many tips and insight, yielding efficient ways of thinking.  It was very beneficial to all participants.”

The conference concluded successfully and achieved its goal of arming attendees with knowledge.  “This year we provided much needed market intelligence.  We just didn’t say, ‘Make sure to keep an eye on distressed areas and act now.’  We actually provided analytical data on the most distressed markets to help them be more proactive,” asserted Susan Pettem, Senior VP at FIS Default Solutions.