Every year seems to have a different recipe for success in the past decade. This is, no doubt, due to the rapidly changing market which has been affected by: Global finance trends, stock market trends, unemployment changes, interest rates, and plenty of other variables. What you’ll read in this article should help you round up as much business in the default servicing arena as possible through 2012.
Get on board FAST because the holiday months come sooner than we ever expect!
Now, that being said, let’s get into the nitty gritty:
- It’s all about investors this year. Banks are all heating up for investor capital since there isn’t a lot of new money or refinances in this market.
- Get the CIAS certification through www.CIAS.com. It’s a spin-off from CDPE, a proven market leader in real estate business development.
- Dig into your investment pool. Get in touch with investors, and if you don’t know any investors, start mingling at local Real Estate Investor groups.
- Register with Fannie Mae. As stated in a previous article, Fannie Mae will have the majority of housing inventory so you need to spend the necessary time to sign up. (see previous article: http://nfsti.com/how-to-become-a-fannie-mae-reo-agent/)
- Credit Risk Management: Get familiar with this term. Many banks are ordering THOUSANDS of paid-for BPO’s to determine the risk of portfolios (especially with the recent VA loan fraud scandal that is being settled, but still under investigation – Full Article)
Don’t waste your time this year. Focus on Investors, CIAS, and BPO’s. Let your REO listings be gravy and prepare for more listing opportunities in 2013 and 2014 when consumer credit and consumer confidence is on the rise.