RealtyTrac VP Speaking at USFN Seminar

If you’re attending the  annual 2008 USFN National Default Servicing Seminar in Texas this week, you can catch RealtyTrac Vice President of Marketing Rick Sharga speaking on the latest foreclosure legislation at a 9 a.m. panel discussion titled “In the News: Current Issues Affecting the Default Servicing Industry.”

“The housing slump — accompanied by a surge in foreclosures — in the midst of a presidential election year has pushed foreclosure prevention legislation to the top of many politicians’ priority lists,” Sharga said in a statement. “The U.S. House and Senate both recently passed legislation aimed at providing relief to homeowners facing foreclosure, and many states have passed or proposed similar measures. Many of the laws being considered, or already enacted, could have a significant impact on the default servicing industry. In addition, the Executive Branch has also attempted to address the issue via programs such as HOPE NOW and FHASecure, which are designed to provide lifelines to distressed homeowners.”

Foreclosure activity increased 112 percent in the first quarter of 2008, according to the RealtyTrac U.S. Foreclosure Market Report, and Sharga noted that myriad state and federal governmental entities, including the U.S. Senate Joint Economic Committee and Banking Committee, Treasury Department, Federal Reserve, FBI and New York State Banking Department, have requested in-depth foreclosure data from RealtyTrac to help inform public policy decisions.

RealtyTrac is also a sponsor and exhibitor (Booth #4) at the 2008 USFN National Default Servicing Seminar and Technology Forum. The USFN Seminar runs from Wednesday, June 4 through Friday, June 6.