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18 THE 2015 FIVE STAR CONFERENCE AND EXPO: ACADEMIC RECAP THE INVESTMENT LAB: Current Knowledge is Key for Investors to Capitalize on Opportunities e housing market has made its way back from crisis times, but investors still face unexpected challenges. Participants in the Investment Lab at the Five Star Conference delved into the investment strategies and discussed how to be successful in a highly competitive market. Industry experts from a number of companies came together in the lab to talk about regulation, non-depository lending, mortgage servicing rights, and REO to loan products in the three hour event. e director of the lab was David Tobin, a principal at one of the industry's most respected loan sale advisory firms, Mission Capital Advisors. Tobin has extensive experience in loan sale advisory transactions, investment banking and commercial real estate debt, and equity raising. To kick off the conversation, Phil Comeau, CEO of Phillip E. Comeau Company, Inc., discussed the topic of regulatory challenges in the investment space by asking attendees to raise their hands if they were not familiar with the TILA-RESPA Integrated Disclosure (TRID) rule. To his surprise, the majority of attendees raised their hands indicating their unfamiliarity with TRID. Of the rule and the lack of knowledge demonstrated by the audience, Comeau said, "TRID will fully bake over the next decade," and also noting that "TRID is a solution looking for a problem." Jeremy Burcham, chief strategy officer at e Compliance Group added, "TRID will pose challenges well after the effective date, it's one of those regulations that people are worried about overcoming it instead of complying with it." As for TRID's direct impact on the investment space, Tim Herriage of 2020 REI Companies, said that the rule will be "good for the investment business and flipping will be slowed, which will stabilize the industry and reduce margins." Josh Stech, VP of Business Development at LendingHome, told DS News that the results of a recent investor poll by the company discovered that investors would like to diversify deal sourcing, add new exit strategies, save on capital costs, and borrow more money. "As a lender at LendingHome, the problem is creating a better, simplified mortgage process with the ability to have a one-stop shop for borrowers," Stech said. "is is something that is needed nationally and we believe we are doing a great job of moving toward this goal." Mark Filler, CEO of Jordan Capital, noted that the rise of non-depository lending positively impacts investment strategies due to the "wider range and variety of programs that are available compared to a couple of years ago." In addition, David Caballero, CEO of Home Servicing, addressed the REO to loan product, while Jason Shapiro, regional head of B2R Finance, gave the attendees an overview of the single-family rental market. As for TRID's direct impact on the investment space, Tim Herriage of 2020 REI Companies, said that the rule will be "good for the investment business and flipping will be slowed, which will stabilize the industry and reduce margins."