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DS News March 2022

DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.

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14 The Exchange a lot easier to keep the accounts you already have, than it is to go out and find new ones. It really comes down to performance and making sure that your current client roster is happy, and that you're doing everything you can to make sure that you exceed their expectations. With the leadership of Jim [Hastings] as Advisory Council Chair of FORCE, there are a bunch of interesting things coming forth this year that people will find very interesting, informative, and huge value-adds to our group. Hastings: FORCE is developing a list of the different clients that handle the seller side REO where you sign up, manage, and can see what systems they use. Our FORCE membership has broad access to everything available out there. FORCE is also planning a great deal of training in the months ahead, covering a range of topics from HUD and the USDA. We just did some training on how to become a USDA-certified broker and are planning a master series of webinars. We are looking at webinars on repairing REO properties, and another on BPOs [broker price opinions]. What caused you to join FORCE, and eventually grow into your current roles with the Council? Hastings: For me, it gave me a platform. I had these thoughts in my head, and FORCE gave me a chance to express them. FORCE gives me a platform to use my gifts and talents. My participation in FORCE drives a place where I can share my gifts and talents for the greater good, and that's a big part of who I am. I just want to make sure people get bang for their buck. I want to give them tips and tools that they can take home and put into place right now. Pagano: My involvement with FORCE pretty much mirrors what Jim says, but I would say that what drove me to my involvement was when I found out just how deep the relationships you establish go. is is a very small niche community. What sets FORCE apart from other such trade associations? Hastings: What sets FORCE apart is that we have the annual Five Star Conference that works around us, which is a much different thing. We have the backing of more of a complete trade industry. What is FORCE going to offer in 2022 that can generate interest in membership? Hastings: FORCE provides a unique sense of community. All the people on the board now are very approachable, and everybody is humble. Everybody could be asked anything at any time, and everybody is usually available. Pagano: I think everybody on our board is capable, ready, willing, and able to be a mentor to anybody looking for assistance. If you're open to learning and are open-minded, FORCE is here to help. e very first broker I dealt with gave me so much information and truly showed me how to navigate this field. e only thing she said was, "Steve, you just have to keep paying it forward." I keep that in my head every day. Hastings: People generally don't always pay it forward. I personally don't recommend anyone to any of my clients that I don't know well. I have been selling REO for almost 40 years. ere are many things myself, Steve, and the rest of the Advisory Panel will pass on to others on the FORCE that will help them grow in the industry. Pagano: I think this next REO cycle will be a pretty good run, about 40% of the flow of the Great Recession, and we will help our members prepare. Hastings: I think that the good brokers out there can really help their REO sellers and buyers make good decisions. at's why we have taught on understanding changes in the Federal Reserve, so they better know interest rate trends. Understanding key indicators in the markets as to cycle timing. Ways to put your REO sellers and buyers in the best place possible. We on the Advisory Panel have been refining our craft over the years and being around this knowledge is invaluable. Any closing comments? Pagano: I think now is a good time to keep people positive. I think a lot of people in our space throughout the country have probably been a little discouraged with the lack of business. If we can give them anything to hang their hat on and keep them optimistic and forward-thinking, they must realize that the worst is over and there are a lot of good opportunities on the horizon for most of us. Hastings: Our best is yet to come. We are really going to be very efficient in the REO space moving forward. People really need to focus on that because of the oppressive nature of the pandemic. at's not what's going on behind the scenes. e repaired REO coming out with some REO sellers will blow your mind with the quality you're going to see. Your about to see some of the best REO to date soon. Get to Know Industry Executives Beyond the Boardroom "I think everybody on our board is capable, ready, willing, and able to be a mentor to anybody looking for assistance. If you're open to learning and are open- minded, FORCE is here to help." –FORCE Advisory Council Vice Chairman Steven Pagano

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