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MortgagePoint ยป Your Trusted Source for Mortgage Banking and Servicing News 28 August 2025 Hastings shares his insights on technology, REO trends, and how agents can stay ahead in a changing market. J im Hastings is the current Chairman of the Federation of REO Certified Experts (FORCE). He is the Broker of Hastings Brokerage, Ltd., a Las Vegas real estate firm that specializes in helping mortgage servicers and residential real estate portfolio managers with their complete REO process since 1984. Hastings holds a bachelor's degree in real estate from Arizona State University and has closed over $1 billion in residential REO. He holds real estate broker licenses in Nevada, California, and Arizona, and formerly Ohio. He has had offices in each state and is only operating in Nevada right now. He is also co-founder of Broker Brain, a web-based REO/property management system used throughout the United States. Hastings has written many articles for the FORCE newsletters and has spoken many times at the Five Star Conferences. His passion is to make sure that FORCE members get value out of their membership in a concrete way that will better their life. As the industry faces economic uncertainty and rapid technological evolution, Hastings remains focused on equipping FORCE members with the tools and knowledge they need to succeed. In this interview, he discusses the FORCE's latest initiatives, the future of AI in real estate, and how a strong community of professionals can navi- gate whatever comes next. Q: What FORCE initiatives, projects, and accomplishments would you like to spotlight from your tenure as Chairman thus far? What's on the horizon? Hastings: I love the directory we cre- ated informing members who the REO sellers are, how to sign up to work with them, and what systems they use. It was worth the work done to create it for the members. Everyone should continuously review it and tell us when updates are needed. I am also happy with the evolving FORCE Rally during September's annual Five Star Conference. We have some ex- citing things planned for this year's Rally. Q: What role does technology play in modern REO management, and where do you see the biggest opportunities for digital transformation? Hastings: REO sales and management has moved to online systems. Listing agents need to be literate in all the systems the sellers use. Oftentimes, they will offer free accounts that agents should sign up for. These accounts help agents become more visible to potential clients. There are also listing agent REO man- agement systems that help streamline workflow, like Broker Brain and others. Q: How are you currently using AI in your career, if at all, and what specific benefits have you seen so far? Hastings: Some clients use automated valuation models that rely on AI to assist with providing better comparables when completing BPOs. This typically helps narrow down values for a more accurate valuation but can also help save time. As with any new technology, mistakes can be made, so it is important to always take the time to review the data used. You may find something better. Using AI for virtual staging purposes is also something we have been looking into. Q: How do you see REO volumes shifting in the next 3-6 months and also over the next year? What key economic indicators are you watching most closely? Hastings: Moody's Analytics has been issuing their data for quite some time and have been consistently saying that standing REO inventory nationwide will increase significantly. They forecast there will be a sharp increase in REO nation- wide by early 2027. Redfin is reporting the highest cancellation rate for the month of June 2025 since 2017. They stated it is due to buyers having more leverage due to more market options, along with anxiety over the broader economy. The Federal Reserve is not lowering the Federal Open Market Committee (FOMC) rate right now due to concerns over the economy. It is important to note that when they lower the rate, they mean the FOMC rate. That is the rate their member banks pay to borrow from them overnight. It is a common miscon- ception that when they lower the FOMC rate, that means mortgage rates are lowered. This isn't the case, as mortgage rates are driven by the bond market, along with risk and return. When interest rates were so low in the past, it was because the Federal Reserve created approximately five trillion dollars to buy Jim Hastings Hastings Brokerage, Ltd., FORCE Chairman