FOR IMMEDIATE RELEASE:REO CON Default Industry Summit Conference January 29, 30, 31, 2010Anaheim, CA. REO brokers, investors and lenders from around the country will gather in Anaheim, CA, in January for a conference focusing on opportunities in the foreclosure market in 2010.The conference, organized by top Orange County real estate broker Tom Moon and longtime broker Hugh Elder, will “offer the latest information from top industry speakers and reveal where the new fortunes are to be made,” according to the Moon.Tom Moon and Hugh Elder organized this event to be specifically geared toward the experienced REO broker, as they felt that other educational conferences focused more on new entrants to the industry.The Summit style panel sessions and discussions will cover such topics as Commercial REO, Loan Modifications, Legislated Rights of Possession, Short Sales, Town Hall Forum and REO, Managing a High Volume Office, insights into the latest platforms and technology for the Default Industry, a Q and A with leading asset managers, financing options, ever-increasing commercial foreclosures and why everyone in the industry needs to get up to speed on short sales.Speakers include:• Christopher Thornberg, a founding principal of Beacon Economics and one of California’s leading economic forecasters. He was one of the first to predict the housing market crash and recession. He’ll be the keynote speaker.• Bruce Norris, an investor, hard money lender, and real estate market trends forecaster who hosts a popular show on KTIE 590 am radio. He’s also on the board of the Real Estate Research Council of Southern California.• Rick Sharga, senior vice president of Irvine-based RealtyTrac, an online foreclosure Web site. Sharga has appeared all over the national news media and briefed the Federal Reserve and Senate Banking Committee, as well as JPMorgan Chase, Citibank and Deutsche Bank, on foreclosure trends. Sharga is one of the sponsors of the event.Other speakers are with banks such as Bank of America and Union Bank, or work in asset management and investment.“There’s probably information that would be relevant for municipal government employees as well,” Sharga says, “(such as) being able to gauge what the impact is going to be on municipal revenues and at what point the ship might turn around.”That may vary geographically, but overall, “We believe that 2010 will probably be the historic peak in terms of the number of households that receive a foreclosure notice,” he says. Sharga anticipates 4 million nationwide next year — after 3.2 million this year.“We think 2011 will be marginally better than 2010, but the number won’t really start to go down until 2012,” he says. “We’ll still be going through some of this inventory well into 2013.’’
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