The default servicing sector is ever-changing with new regulations, new technologies, and shifts in the market. What worked in the past may not be best practices in today’s market. In order to best serve clients and remain relevant in this field, real estate professionals must seek out credible continuing education opportunities on a regular basis.
The Five Star Academy offers a wide selection of coursework for professionals working in all facets of the default servicing industry. Whether new to the field or having already accumulated years of experience, professionals can deepen their understanding of the market, new technologies, or ensure they are up to date on the latest compliance issues.
Five Star Academy coursework offers several benefits for industry professionals:
• Created by Professionals for Professionals.
All FSA courses are created and written by industry professionals. Not only are they experts in the subject matter at hand, but they also continue to work in it day-to-day. As such they have a deep understanding of the challenges, changes, and solutions today’s professionals and their clients face.
The “REO Market 101” course is authored by Al Freeman, CEO of First American Preservation, and “Technology in REO” is authored by Jessica Chandler, Marketing Project Coordinator for RES.NET. Other course authors include Jim Hastings, Broker/Owner of Hastings Brokerage and creator of Broker Brain, the Web-based REO tracking system, and Nancy Braun, Owner of Showcase Realty and a top-producing broker in her market with 20 years of experience.
• Courses at Your Own Pace, on Your Own Time.
While continuing education is essential for real estate professionals, everyone knows that clients take top priority. Thus, it can be difficult to commit to classes that are offered on a set schedule that can conflict with other tasks or client meetings. FSA courses pose no such dilemma as they are offered online. Professionals learn on their own time and at their own speed. Interruptions are not a problem.
Also, professionals can choose to take just one course to refresh or update their knowledge on a specific topic, such as compliance, or they can devote themselves to a collection of courses to earn an FSA certification. The Distressed Asset Disposition Certification, for example, includes 16 courses.
• From the beginning, or furthering your expertise.
FSA courses offer fresh insights about whether an agent is new to the field or an industry veteran. As we know, regulations, best practices, and technologies change over time. Starting from the beginning with the “Life of a Loan” is ideal for REO newcomers as well as those seeking a refresher. Courses such as, “Working with GSEs” and “Becoming Indispensable” can provide new information and insights for those who specialize in REOs.
For those running an office, the Diversity and Inclusion Certification or a course or two within it can help inform and provide tips on this important topic. For example, any leader can benefit from “Workplace Conflict Resolution.” Leaders can also learn how to better meet the needs of their employees and their clients with courses such as “Supply Chain Diversity” or “Ethics and Unconscious Bias.”
• Widely Recognized and Respected
The Five Star Academy was founded by the Five Star Institute, which has been providing education and insight to the default servicing sector for more than a decade and has earned widespread respect and recognition across the industry. Its national trade associations and annual Five Star Conference have been sought out by professionals across the nation and continue to expand in reach. The FSA has quickly attracted the attention of the industry, bringing influencers to the table as course authors and securing widespread respect for the certification programs offered. Adding an FSA certification to your resume signals to potential industry partners that you are both knowledgeable and committed to your field.
• Offerings for Individuals or Full Offices
While FSA courses are perfect for individuals aiming to increase their expertise and position themselves at the forefront of their field, the FSA also presents corporate offerings for offices wishing to further educate their entire team of professionals. Employees can expand their knowledge together, making them a stronger and more impactful team. Investing in the education and success of employees reaps immeasurable benefits in employee loyalty and company reputation and can ultimately reflect positively on the company’s bottom line.
The “Life of a Loan” program is ideal for offices hiring new employees, and for large offices, the “Diversity and Inclusion” or “Regulatory Compliance” coursework may be a worthwhile endeavor for the whole team.