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Change, connection, and collaboration were the themes of this year’s spring REOMAC® annual education conference, held at the JW Marriott Desert Springs in Palm Desert, Calif. REOMAC® is a non-profit trade association serving the mortgage default servicing industry nationwide for over twenty-five years.
“REOMAC® has a long tradition of holding conferences in Palm Desert,” said Desirée Patno, CEO and founder of the National Association Women in Real Estate Businesses (NAWRB). “The conference was well-received with very good networking opportunities. The caliber of attendees was very high.”
NAWRB hosted its 3rd Annual Salon Day, prior to the REOMAC kick off, which received rave reviews from participants who enjoyed being pampered while being educated. Kyle Wagoner, of the California Small Business Development Center (SBDC) in Coachella Valley, spoke to the group about various opportunities for free business consulting and low-cost training services (including working with a personal mentor). Wagoner discussed opportunities and provided handouts for attendees to leverage their existing skill sets to expand their business portfolio and grow their business. There’s nothing quite like walking out looking marvelous, including new hairstyles and colors, combined with the increased marketability and focus skill set – the timing was perfect!
Agent training sessions were provided on Sunday by BLB Resources, Green River Capital, Round Point Mortgage, Precision Asset Management, PEMCO, RIO Genesis, iServe Real Estate Operations, Matt Martin Real Estate Management, LRES, Noteschool, Wells Fargo, and Equator to help serve the attendees with direct connection with their clients.
Otis Felton, FDIC’s Corporate University Class Liaison, opened the conference, speaking about his personal and professional journey on overcoming several obstacles to come out stronger than ever. He is extremely happy and thankful for his blessings and gifted us with his words of wisdom.
A REOMAC Speaker veteran, economist Christopher Thornberg, spoke about the market changes for 2014 and beyond. Thornberg gained national recognition after he made accurate predictions in 2006 of the housing crash and recession. Thornberg predicted the housing recovery to rebound by the end of the year, with the possibility of apartment oversupply in some locations. He said that 2013 ended on a strong note, with solid acceleration in the second half as consumers moved past the tax hit. State and local governments were beginning to come around by year-end 2013, and Thornberg said that the weather issues at the beginning of 2014 would have only a temporary effect on the economy. Commercial real estate will continue its slow recovery, and the energy sector will continue to boom. All in all, Thornberg said, 2014 will be better than 2013, but he warned attendees not to get too excited, because future economic challenges include debt-strapped local governments, tight bank credit and mortgage lending, and aging infrastructure. He did state that he expects a three percent growth range in 2014, to be exceeded in 2015, and another real estate market bounce in 2014.
That evening, a charity auction featured sports memorabilia, jewelry, and purses, with bidding wars and exciting wins. Monies from the silent and live auctions benefited the REOMAC® Foundation’s Scholarship Program.
Breakout sessions were held on Tuesday morning, and attendees had time to connect with outside vendors, clients, and future clients. NAWRB member Brandy Nelson, broker and owner of Red Top Realty, Palm Desert, CA, attended two of the breakout sessions. The “Note Sales and the Current Market” session addressed the new practice of banks selling off pools of notes rather than handling individual foreclosures. “It was an informative session,” said Nelson. “I am very interested in learning more about notes.”
Patno served as a panelist in the “Diversity Certification—What It is and How Can It Benefit You” breakout session. “Third party certification gives you accountability and showcases your classification,” said Patno. “It’s an articulation of what you are about, and it’s important to have it on your capability statement and email signature to maximize your available opportunities.” A women-owned business whose work is in the housing economy can certify as a NAWRB Certified Women-Owned Business or Minority Women-Owned Business. The four other federally-recognized diversity certifications include minority-owned, veteran-owned, disabled veteran-owned, and Historically Underutilized Business Zones (HUBzone). Certification qualifies businesses for incentives, programs, and set-asides that would otherwise not be available to them. “It’s well worth the time and energy to get certified,” said Patno. “You want to use the best marketing strategies and practices to quantify what classification is your business, whether you are selling a home, working with other businesses or bidding on contracts.”
Other breakout session topics included “Community Revitalization” as well as “Best Practices for Selling Distressed Properties.” “The Best Practices for Selling Distressed Properties session gave us useful tools for our business,” said Nelson.
Lender/servicer/outsourcer roundtables were also valuable parts of the summit, and relaxing massages were available at the Relaxation Lounge. Vendors at the event used the opportunity to discuss best practices and other helpful topics, while networking with clients.
“The camaraderie and conversations at the summit gave us valuable insights,” said Patno. “Events like these are a necessity to help us unite and learn from each other, so that we are not operating completely as individuals.” We look forward to more REOMAC conferences.
