DALLAS, Oct. 11, 2012 (GLOBE NEWSWIRE) -- The Five Star Institute on Friday announced the establishment of its newest member association—the Five Star Default Title Coalition. It is the first industry group dedicated specifically to default title and closing professionals who specialize in lender-driven transactions and post-acquisition legal and title work.
Lender-driven transactions are complex and multifaceted, making the role of title and closing agents unique in the management and disposition of foreclosed real estate owned (REO) properties. As Sam Bready, SVP of strategic business development for the Five Star Institute, explains, title and closing agents in the default space must balance the varied interests of the many parties involved in an REO transaction—from the selling institution to the new buyer and all the cogs in between.
"No matter what pitfalls arise, it's up to the title agent to keep the deal from derailing and close the transaction," Bready said. "These often overlooked problem-solvers are the facilitators of successful transactions that put families into homes that might otherwise sit empty, contributing to depressed property values and neighborhood blight."
The Five Star Default Title Coalition is committed to the default title industry and its success through education, best practices, communication, and networking. The organization is now accepting applications for new members, with the intent of giving its growing network of default title and closing firms a strong, collective voice of influence within the mortgage industry.
The Five Star Institute will create targeted curriculum that addresses key challenges and issues for the default title industry and plans to host various regional summits to support the professional development of its membership base in the coming year.
The Five Star Institute is a publishing, communications, marketing, event planning, and feature film production company. The Institute hosts the largest mortgage-related event in the United States—the Five Star Conference and Expo—which draws thousands of industry professionals annually and has featured such distinguished speakers as former presidents George W. Bush and Bill Clinton.
Among its many publications are DS News, the only professional journal in the country dedicated solely to the default servicing segment of the mortgage industry, and MReport, a B2B trade publication serving the broader mortgage field. The Institute's professional membership associations include the Five Star FORCE (Federation of REO Certified Experts), an elite network of real estate agents and brokers that are specially trained to handle REO properties; the Legal League 100, a national consortium of law firms specializing in default and foreclosure matters; and now, the Five Star Default Title Coalition.
Additional information about the Five Star Institute and its many business-building opportunities can be accessed at www.TheFiveStar.com. For more on the Five Star Default Title Coalition, visit http://titlecoalition.com/. Default title firms interested in joining the new Coalition should contact Sam Bready at 214.525.6742 or sam.bready@thefivestar.com.