Distressed Property Institute Responds to National Delinquency Survey
Strong reaction needed as foreclosures and mortgage loan delinquencies grow in the first-quarter of 2009.
Austin, TX (Vocus) June 11, 2009
With the Mortgage Bankers Association’s (http://www. mbaa. org/) (MBA) recent release of its National Delinquency Survey, the Distressed Property Institute (http://www. cdpe. com/) sees continued difficulty for the residential real estate market.
“Despite the best efforts of bank and government initiatives, the reality is that an increasing number of homeowners are going into foreclosure,” said Alex Charfen, co-founder and CEO of the Distressed Property Institute, a premier real estate education organization training real estate professionals how to handle distressed properties. “We’re seeing record increases reported in foreclosures and delinquencies across the country.”
The MBA survey reported that the combined percentage of loans in foreclosure and at least one payment past due, meaning the percentage of mortgage holders not current on their mortgages, was 12.07 percent on a non-seasonally adjusted basis. Additionally, the seasonally adjusted delinquency and foreclosure rate for subprime loans was reported to be 39.29 percent.
“Distressed properties are no longer a niche within the market; today they are the market,” Charfen said. “The figures published by the MBA show continuing challenges across all mortgage categories, not merely the subprime. These statistics, combined with a climbing unemployment rate, make a strong argument for a continuing, increasing trend in delinquencies and foreclosures.
“To stem the suffering and curb this foreclosure crisis, there simply must be more real estate professionals educated in short sales and the other options available to distressed homeowners, and the Distressed Property Institute is on the forefront of training real estate professionals to provide homeowners with solutions.
“Each month we expect to train more than 800 brokers and agents, as well as attorneys, title representatives, accountants and others, to help the growing number of distressed homeowners avoid disaster.”
Graduates of the Institute’s training receive the Certified Distressed Property Expert® (http://www. cdpe. com/) (CDPE) Designation. With more than 8,000 designees nationwide, CDPE is the fastest growing designation in real estate industry history.
About the Distressed Property Institute, LLC
The Distressed Property Institute trains real estate professionals to engage with and assist homeowners facing hardships. The Institute has developed a curriculum to provide the tools and knowledge to handle distressed properties, including short sales, deeds-in-lieu, mortgage modifications, forbearance, refinances, reinstatements and, if that fails, how to help homeowners through the foreclosure process. After completing a comprehensive on-site or online course, graduates are awarded the Certified Distressed Property Expert® (CDPE) Designation.
About the CDPE Designation
The CDPE Designation provides real estate industry professionals with detailed information on how to engage with and assist homeowners in distress. With more than 7,500 professionals trained across the United States, the CDPE is one of the fastest growing designations in real estate industry history. The CDPE designation has been endorsed by RE/MAX International (http://www. remax. com/) and other major U. S. brokerages and industry icons, including: Dave Liniger, chairman and co-founder of RE/MAX; Howard Brinton, founder of STAR POWER® Systems (http://www. gostarpower. com/); Bob Corcoran, founder of Corcoran Coaching and Consulting; Brian Buffini, founder of Buffini and Company; and David Knox, founder of Knox Productions.
Liniger recently announced that more than 7,500 RE/MAX agents would receive the CDPE training in 2009.
For more information about The Distressed Property Institute and the CDPE Designation, visit www. cdpe. com.
Media:
Adam Pedowitz
512.745.4971
Adam(at)cdpe. com
Jennifer Wezensky
269.274.4071
Jennifer(at)jwpublicrelations. com
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