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2 0 2 5 F I V E S T A R C O N F E R E N C E & E X P O MortgagePoint ยป Your Trusted Source for Mortgage Banking and Servicing News 42 SVP, Head of Default and Customer Care with BOK Financial; Caren Castle, Senior Managing Attorney with The Mortgage Law Firm; and Joshua Bishop, COO of Newrez|Shellpoint, delivered key updates, including the termination of COVID-era FHA programs and the launch of its new permanent toolkit right around the corner, featuring streamlined rules and revised face-to- face requirements. The panel of experts also examined the VA's wind-down of VASP and efforts to create a permanent partial claim option. In the third and final panel discus- sion of the Distressed Assets Forum, "Complex Legal Issues in Foreclosure and Default," experts in the field dis- cussed the mounting regulatory scrutiny faced by the foreclosure and default servicing industries. A panel featuring Stephen Hladik, Partner with Hladik, Onorato & Federman LLP; Cheryl Marchant, SVP, Servicing with Freedom Mortgage; Clayton Gordon, Director of Default Mediation and Litigation with Carrington Mortgage Services LLC; Chris Baxter, SVP of Operations with Nestor; and Natalie Winslow, Attorney with Atlas Solomon LLP explored some of the industry's most pressing fore- closure challenges, ranging from title defects, standing issues, and contested mediations, to procedural hurdles, stat- ute of limitations nuances, and shifting interpretations of federal rules. Running concurrently to the Distressed Assets Forum, the day-long EDUCATION AND UPDATES HIGHLIGHT DAY TWO OF 2025's FIVE STAR CONFERENCE D ay two of the 2025 Five Star Conference & Expo at the Omni Dallas Hotel began with another informative education session, as the Five Star Institute's Legal League presented the Distressed Assets Forum. At the Forum, presented by Alti- source, several of the industry's top servicers and attorneys collaborated on three panel discussions exploring the most pressing legal issues in default servicing, including foreclosure litiga- tion, FHA/VA program reforms, and bankruptcy compliance. David Demers, Partner with the firm of Cooke Demers LLC and member of the Legal League Advisory Council, welcomed attendees to the Forum and outlined the day's agenda before introducing the first panel, "Bankrupt- cy Reform in Action: What Servicers and Firms Need to Know." Featuring panelists Sarah McDaniel, Managing Attorney with McMichael Taylor Gray LLC; Jeffrey Fraser, Senior Partner with Albertelli Law; Brooke Sanchez, Man- aging Partner with McPhail Sanchez LLC; Cheryl Marchant, SVP, Servicing Manager with Freedom Mortgage; and Brooke Harris, Senior Loss Mitigation Analyst, Foreclosure & Bankruptcy with Freddie Mac, the discussion focused on recent updates to consumer bank- ruptcy regulations. With an emphasis on Bankruptcy Rule 3002.1, the panel explained how these changes will impact servicer accounting practices, borrower communications, and case management, and detailed exactly what law firms and services need to know in order to remain compliant. The session closed with a look at recent develop- ments in bankruptcy case law, including how restricting online payment access for bankruptcy debtors constitutes a violation of the automatic stay. The second panel of the morning, "Next-Gen Loss Mitigation: Navigat- ing FHA & VA Program Overhauls," covered the evolution of loss mitigation post-pandemic and how major changes to FHA and VA programs are reshaping the servicing sector. Panelists LaQuanda Sain, EVP of Mortgage Servicing with Rocket Mortgage; Ryan Bourgeois, Partner with Barrett Daffin Frappier Turner and Engel LLP; Michael Merritt, 2025 FIVE STAR CONFERENCE & EXPO Real Estate Investment Forum 2025 FIVE STAR CONFERENCE & EXPO Distressed Assets Forum