Since 1999, Titanium Solutions has provided In Person Outreach Services to the Mortgage Industry.  We have helped Mortgage Servicers, Insurers and Investors reconnect with severely delinquent borrowers in an attempt to work out their delinquency in a dignified fashion.  Over the years we have engaged over thirty thousand professionals who have served our business well.  We have reached out to hundreds of thousands of borrowers, assisting them with their difficult financial situation.  The benefits we have delivered are countless.  For many, we have enabled loan modifications that have kept them in their homes, for others we have assisted with a Short Sale while others have benefitted from Deed in Lieu of foreclosure assistance we have provided.  Scores of families across the country have benefitted directly from the In Person Services offered by Titanium Solutions.  For our clients, we have helped them realize hundreds of millions in loss avoidance enabled by our professionals reaching out to their borrowers, who have helped rekindle relationships that would otherwise have gone straight to foreclosure.  And while this service has delivered such overwhelming success to our clients and their borrowers, the use of face to face outreach has seen precipitous decline in the market.  This decline in demand can be attributed to improving mortgage delinquency rates, declining foreclosures and improved servicer processes, all positive signs for the mortgage industry; unfortunately not beneficial for the long term growth of Titanium. As a result of these changes in the marketplace, we have decided to cease operations effective March 13, 2013.

We at Titanium would like to express our deep appreciation to all of our Home Retention Consultants who have worked tirelessly over the years providing such a professional service for our clients to their customers.  You have been the face of Titanium.  It has been your work that has lifted the burdens of so many who have suffered greatly due to the financial crisis this country has experienced.  You were the face at the door delivering the good news of opportunities that existed as we worked to reconnect them with their financial institutions.  You were the hope for many when there was no hope.  The good work you have done is greatly appreciated by the team here at Titanium Solutions and we hope that the contacts you have made and relationships you have established with these homeowners will continue to bear fruit in years to come.

Effective immediately, all work outstanding assignments are being closed and returned to our clients. Should you have any updates that have not been entered into the system, please forward those updates to contact@titaniuminc.com.

Here recently, my business has been going well enough that I am now at the point that I need to start looking at expanding the task I complete to another agent.....a co-list agent. In thinking about this, I did have a agent in mind however, I am not exactly sure he is a good fit for what it takes to do the things I do. That got me to wondering, what exactly do I do? Yes, that may seem like a silly question but, it got me to wondering even further about what exactly it takes to be a REO Listing Agent and thus, this blog.

So, before we get to talking about the day to day task, let's talk about some larger concepts that need to be realized by any REO Listing Agent.

First off, let's talk about commitment. Yeah, yeah, you know what commitment means but, how many of you actually put it in to practice daily. I suspect that many of us have so many commitments that sometimes we feel overwhelmed and can't actually get to all of our commitments in a day. In these cases where we put our commitments off till tomorrow because today was so busy, I have to stop and ask you, is what you put off till tomorrow really a commitment? To me, it sounds more like a obligation but, nothing like a commitment. The way I distinguish a commitment from an obligation is by using a time line. More specifically, if my Asset Manager gives me a task and says they need it completed in 48 hours or less, I am committed in that I no longer have the option to complete the task in 48 hours and 1 second later. This is different to me from an obligation because in my mind, an obligation doesn't have a timeline...a deadline. I am obligated to do something but, I can do it in my time....hence, my difference between a commitment and a obligation. In other words, are you committed to doing the task at hand in the time provided, regardless of other obligations you may have? If you are not because of priorities, ie.....I can't complete the assigned task because I have to pick up my child from school, then I would tell you that you may want to reconsider being a REO Listing Agent. At least my Asset Managers are looking for commitment from me and that means when they tell me at 3pm on Friday that they need a monthly marketing report completed no later than 4pm the same day.....it gets done because I am committed.

Secondly, let's have a discussion about priorities. Once again, I know you know what a priority is however, do you prioritize daily? Of course you do, we all do however, the better question is, are you prioritizing your commitments correctly. You see, many of us don't and it's not because we don't know how, it's because in many ways we have too many obligations. For example, I have a priority in my life to spend more time with my family however, that priority doesn't out weight my priority to my clients. Yeah, you heard me correctly, I said it, my family isn't a greater priority than my clients. Pick your jaw up off the floor and breathe. If you are going to be a REO Listing Agent, you need to know that your clients needs and priorities are more important than yours. As such, your clients priorities will always trump yours. For many of you, this is a problem because when I said that my client takes priority over my family, I am sure a lot of you bristled at the idea and some of you may have even said, HELL NO! It's for this very reason that you will not make a great REO Agent. Why? Because people like me will be ready to pick up your slack, show your Asset Manager that we are committed and that they are a great priority in our daily lives. Now, put yourself in your Asset Managers shoes, who would you want to work with? That's what I thought.

Thirdly, let's talk about balance. Believe it or not, you can be fully committed and, have proper priorities and still keep your life in balance. It's not easy....let's be real, it's almost impossible but, it can be achieved. You can give your client all they need....and more, as well as complete the task of other commitments, obligations , and or priorities. What does it take on your part? An incredible amount of attention to details, planning ahead, open dialogue with others, understanding your own limitations and most importantly, knowing when to ask for help. For me, balance is achieved by having the right people around me who share in the heavy burden that being a REO Listing Agent is. Team work is the only way a single person can achieve being a REO Listing Agent who close multiple millions of dollars in deals a year. Now, not all of us have the inventory on hand that would require us to have a team but, if you aren't there yet in your business, trust me, when it comes, this may be the most important thing you take away from this blog and that is Team Work.

Finally, I could go on with this blog and talk about trust, task, following instructions, etc...etc...etc... however, I have a sneaking suspension that for many of you, you never got past the second point I made....lol

I have not heard this topic brought up much when taking REO courses and online discussions on how to grow your businees. I have read talks of failed banks on post and names of banks along with a direct link to US Treasury in various places but not how it relates to growing your REO business. I have to think there are numerous ways to use this list to help to gain new listings after all these banks have assets they are holding and if the bank is closing this would most likely direct you to think they may be toxic assets.

FDIC: Failed Bank List  here is a link to find the official list.

The FDIC has released the financial statistics on the banking industry for the of 2011 to date 116 .

As of May 20, 2011, the FDIC has participated in the closing of 116 banks this year.

With the first two quarter results now available we can observe the actual shrinkage in the number of banks in the United States.

On March 31, 2011 there were 6,453 banks in the United States, 77 less than existed on December 31, 2010.

There were 6,773 banks in existence a year earlier.

At the start of the recession in December 2009, there were 7,284 banks in the banking system.

The largest drop in banks in the first quarter was in the smallest institutions: there were 51 fewer banks with assets of less than $100 million at the end of the quarter than at the end of 2010.

Banks between $100 million in asset size and $1.0 billion in asset size dropped in number by 34 units.

The movie to big to fail showed for the first time on HBO this past Monday. I am sure this will bring many to do some research on the current status of the relief programs that are out there.

Capital Purchase Program (CPP), under the Emergency Economic Stabilization Act (EESA) in October 2008.

Four groups of entities receiving CPP funds have been created for this report:

1. CPP (I) Assets greater than $100 billion.
2. CPP (II) Assets between $10 billion and $100 billion.
3. CPP (III) Assets between $1 billion and $10 billion.
4. CPP (IV) Assets less than $1 billion.

Detailed information on reporting can be found at the Federal Financial Institutions Examinations Council website (http://www.ffiec.gov) and at the Board of Governors website (http://www.federalreserve.gov) under "Reporting Forms". In general, only bank holding companies with consolidated assets greater than $500 million are required to submit Y-9C reports.

Public-Private Investment Program for Legacy Assets

SIGTARP:

“The Legacy Securities Program continues to develop, and on July 8, 2009, Treasury announced the selection of nine PPIF managers that will receive debt and equity financing of up to $30 billion in TARP funds during the initial capital-raising efforts for the PPIFs. Treasury has stated that PPIP, originally intended to involve up to $1 trillion in total funds, may involve up to $75 billion of TARP funds. ”

“According to Treasury, “the goal of the Legacy Securities Program is to restart the market for legacy securities, allowing banks and other financial institutions to free up capital and stimulate the extension of new credit.” For the purposes of PPIP, legacy securities are ABS supported by real estate-related loans issued before January 1, 2009, and originally rated AAA (or an equivalent rating) by two or more NRSROs. Private investors and Treasury will co-invest in PPIFs to purchase these assets from financial institutions. Furthermore, Treasury will offer debt financing to the PPIF equal to or double the total private equity investment. Treasury, the PPIF manager (which is required to invest at least $20 million of its own money in the PPIF), and the private investors will share in PPIF profits on a pro rata basis. PPIF losses will be shared on a pro rata basis up to each participant’s investment amount. As of September 30, 2009, there were no asset purchases.”

Term Asset-Backed Securities Loan Facility (TALF).

Oct. 22 (Bloomberg) -- A U.S. government program aimed at reviving the mortgage-backed securities market returned more than triple what stocks or bonds gained in the past year.

October 22, 2010, 4:21 PM EDT

(Updates with professor’s comment in eighth paragraph.)

The eight funds created under the Public-Private Investment Program, or PPIP,

PPIP Funds Surge 36% in First Year, Treasury Says

Lately, more than ever, I have been getting calls from agents who are all asking the same question and, that is, “are you working any offers on 666 Money Pitt Lane”

Well, before I tell you my typical response, I would like to share some insight and see if you agree.

Per Realtor.com,

“An agent is bound by certain legal obligations. Traditionally, these common-law obligations are to: Put the client's interests above anyone else's; Keep the client's information confidential; Obey the client's lawful instructions; Report to the client anything that would be useful; and Account to the client for any money involved.”

So, here are my questions.

1. Is it in your clients interest to reveal to other agents that you are or are not working other offers?

My argument is NO, it is not in your client’s interest to reveal that you are or are not working other offers.

Simply put, when answering the question, you don’t know the motivation behind the person who asked it. We can get into a bunch of “what if” questions but, ultimately if by answering the question the agent decides not to show the home or not put in an offer then, you just hurt your own client. Ultimately my job is to get as much for my client as possible in the shortest amount of time and that means, getting as many offers in the door as possible. I could be wrong but, I suspect that the main reason Realtors ask this question is because they want to avoid being in a multiple offer situation or they want to be in better negotiating position. I guess that’s all fine and good but, it’s not my job to make that so for another agent and their buyer.

Now, let’s flip the script a little here.

Do you think my argument is valid for bank owned properties? What about Fannie Mae properties? HUD properties?

I won’t answer that question for you, I would love to get your responses.

HELLO I RECEIVE THIS INFORMATION I HOPE IT CAN HELP BROKERS ON THOSE REGIONS.

July 20, 2010- Arlington, VA – Matt Martin Real Estate Management (MMREM) has been awarded three contracts by the U.S Department of Housing and Urban Development (HUD) under the Marketing and Management III procurement. The Federal Housing Administration (FHA), which is a part of HUD, provides federal mortgage insurance ensuring that mortgage lenders will be reimbursed in the event homebuyers default on their mortgage. When a lender is forced to foreclose on an FHA-insured single family home, townhome, or condominium because the owner can no longer make payments, it can file a claim with FHA for the balance due on the mortgage and convey title of the property to HUD. A HUD Home, therefore, is a one-to-four unit residence acquired as a result of a foreclosure on an FHA-insured mortgage. As the largest seller of real estate in the country, HUD has been outsourcing the disposition of its foreclosed FHA inventory under the M&M contracting process since 1999. After conducting extensive research into market-based best practices, HUD has developed its new M&M III disposition structure to streamline its operations, capitalize on the expertise of potential vendors and provide flexibility in a changing environment.