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.

Nationstar Mortgage is here to help you be more successful.  (A snippet taken from the Nationstar website for Real Estate Professionals)

“You need to partner with a respected national lender specializing in REO financing You need Nationstar Mortgage.

Our dedicated REO Finance teams are comprised of experienced loan officers, processors, underwriters and closers dedicated to the REO Financing process who are trained to identify issues before they become roadblocks. We specialize in working with all types of buyers, especially first time home buyers.

As both a national lender and servicer of over 400,000 accounts totaling over $70 billion, Nationstar Mortgage is uniquely qualified to support REO financing. We partner with thousands of realtors to list, sell and finance our own REO properties. We understand the importance that financing plays in selling REO properties as quickly as possible.

Bottom Line: Nationstar Mortgage has the strength, talent, programs and tools to help both you and your customers!

Nationstar HomePath Realtor Tools

Nationstar Mortgage understands how important HomePath financing is to your business and we’re here to help you be even more successful. Use these flyers to refer potential buyers to Natiosntar Mortgage to help control dead-end offers and move your HomePath listing quickly.

We also service over 400,000 accounts nationally totaling over $70 billion.

Want to become an approved listing agent for our REO properties?”

LINK DIRECTLY TO THE NATIONSTAR REO LISTING PAGE

REO Certification Courses for Summer 2011 are now underway.  Members can access the curriculum through their NFSTI account and complete all course requirements online at their convenience.  Certification is no additional cost** to members and has been updated for the current market changes.  With this certification agents can display the NFSTI Certification logo prominently on their websites and emails, add the certification to their bios and resumes, and be actively listed within the NFSTI search database.  All members must be updated each year to remain certified.

HOW TO BEGIN THE COURSE:

1. Either log in to your account or sign up for a new account on the www.nfsti.com home page.
2. Go to the DS Core Group Courseware (http://nfsti.com/groups/ds-core-reo-certification-2011/courseware/course).
3. Request to “Join Group” if not already done.
4. Check the “Assignments” section (http://nfsti.com/groups/ds-core-reo-certification-2011/courseware/assignments)
5. Go through the 3 assignments (Reading material, audio material, and exam).

COMPLETION OF EXAM

1. Members must score an 80% or better.
2. Open-book exam.
3. Re-take the exam as many times as needed.
4. First passing score is recorded.
5. System will automatically notify the proctor of your completion.  You will receive a verification of passing on NFSTI’s forum, and a non-passing score via private email.

*Please note that some members have received an erroneous message stating that they’ve already taken the exam upon completion.  Please disregard this message.

WHAT YOU GET

• NFSTI Certified REO Specialist Golden Feather logo (available for download on the www.nfsti.com home page).
• Nationally recognized designation:   “NFSTI Certified REO Specialist”
• Special promotion throughout the year.

**This applies to Premium and Expert Members only.  Basic membership does not include exam.  Basic Members can upgrade their membership and apply previous fees here:  http://nfsti.com/upgrade/.

Members of NFSTI have a very unique opportunity to go down in history by telling their true, uncut stories from the field.  There’s still time to be a part of a National Bestselling book based on the real lives of real estate agents.

Stories include:

• A client who jumped out of a penthouse balcony during a showing.
• An agent’s first sale:  $43,000,000 (and he was on both sides of the deal)
• An agent who closed $110,000,000 in sales (in one day!)
• An agent, who mistakenly let out the Seller’s dog, only to bring back the wrong dog.
• Home buyers race home to their brand new purchase, directly from the closing, and find their garage missing.
• A broker who shows bug infested home, and runs out discarding all his clothes.
• An agent who shows up at wrong brokers open house, and gets arrested for breaking and entering.
• A home inspection that went very wrong (inspector falls through ceiling).
• Unusual commission payments:  all cash, sexual services, expensive cars, exotic travel, cabaret ownership, etc…

HURRY!!

Send in your best story. It could be an interesting listing story, incredible experiences, closing fiascos, inspection nightmares, maybe a humorous showing or even a tragedy.   If your story is selected, your name will be published along with your website.  Imagine being a contributor in what is surely going to be a “must read” with your peers and clients.

Email your story (stories) to:
theotherdonald@aol.com
by June 30, 2011

They must be true and
between 300-1500 words!

Two of the nation’s largest REO asset holders are headed to REO Expo this June: don’t miss your chance to make a direct connection, and build your business.

We’re pleased to announce that both Fannie Mae and Freddie Mac will be attending and participating at this year’s REO Expo—beyond speaking on various panels and during general sessions at this year’s event, both companies are offering attendees unique ways to engage and learn more.

We invite you to make plans to join us at this year’s Expo, June 12-15 at the Fort Worth Convention Center!

Fannie Mae broker training

Sunday, June 12
1:30pm—4:30pm

Learn about important policies & procedures that apply to agents and brokers listing and selling Fannie Mae properties.

*This training is free of charge, and open to all; you do not need to register for REO Expo 2011 to attend. More information on how to register for this special free class will be announced shortly.

Fannie Mae update

Monday, June 13
3:30—5:00pm

Open all registered attendees, Fannie Mae representatives will be on hand for this special update. If you already work with Fannie Mae, learn what the GSE is expecting from its listing brokers; if not, learn what it takes to get involved with Fannie Mae and how you can grow your business while helping the nation’s real estate markets recover.

Freddie Mac/HomeSteps vendor network reception

Tuesday, June 14
3:30pm—5:30pm

Open to current vendors—including agents/brokers, attorneys, P&M firms, and others—this special reception is by invitation only.

Freddie Mac/HomeSteps exhibit booth

Monday, June 13—Tuesday, June 14
Open during exhibit hall hours

HomeSteps representatives will be available throughout the event to answer questions, and help you learn more about available opportunities.