The Mortgage Bankers Association (MBA), the Asian Real Estate Association of America (AREAA), the National Association of Hispanic Real Estate Professionals (NAHREP) and the National Association of Real Estate Brokers (NAREB) have announced plans for a National Short Sale and REO Summit, to be held Feb. 22-23, 2013 just outside of Dallas at the Gaylord Texan Hotel and Convention Center.
Held on the heels of MBA’s National Mortgage Servicing Conference & Expo, which brings together more than 2,200 professionals in residential mortgage servicing, including most of the top distressed asset and REO (Real Estate Owned) service providers, this summit will provide world-class education and networking together with business development opportunities for all industry practitioners under one roof to address the issues in this growing market segment.
"AREAA is excited to work with the MBA and our fellow minority real estate groups to deliver a meaningful default services program that brings together top servicing executives and frontline real estate practitioners. With this collaboration, we have a unique opportunity to help develop long-term default market solutions that will ease the ongoing impact of foreclosures and dislocation of homeowners," said Ivan Choi, AREAA's 2013 Vice Chair.
“Working with our membership base and industry professionals from the communities most significantly impacted by the housing crisis provides a unique opportunity for us to address issues and bring solutions to the marketplace,” said MBA’s President & CEO David H. Stevens. “Finding better ways to efficiently manage short sales and working to effectively rehabilitate, market and sell REO and other distressed properties will be critical to returning stability and growth to the real estate markets.”
The summit will also provide opportunities for attendees to get up-to-date training on short sales, learn about foreclosure trends and issues, neighborhood stabilization efforts and REO to rental & investment strategies.
"Foreclosures and short sales continue to dominate the housing market in many Hispanic neighborhoods across the country," said NAHREP President Jerry Ascencio. "We are thrilled to partner with the MBA to create the premier default event in the industry."
“It is vitally important that we increase our collective efforts to clearly understand the concerns of our industry partners, to ensure effective solutions are developed in addressing challenges facing not only African Americans, but minority families across the country,” said NAREB President Julius L. Cartwright. “This opportunity will create networking, business development, and advocacy opportunities for our members and strategic ways to advance our trade association into the short sale and REO discussions.”