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2008-06-02 20:28:02

Real Estate Expert Rick Sharga Will Speak on Foreclosure Legislation

Rick ShargaIrvine, CA – June 2, 2008 – Real estate expert Rick Sharga, vice president of marketing at RealtyTrac™ (www.realtytrac.com), (shown at right) the leading online marketplace for foreclosure properties, will speak at the annual 2008 USFN National Default Servicing Seminar and Technology Forum on Friday, June 6, at the Grand Hyatt in San Antonio, TX. 

Sharga is slated to speak about the latest foreclosure prevention legislation at a 9:00 a.m. panel discussion titled “In the News: Current Issues Affecting Default Servicing Industry.”

“The housing slump — accompanied by a surge in foreclosures — in the midst of a presidential election year has pushed foreclosure prevention legislation to the top of many politicians’ priority lists,” Sharga said. “The U.S. House and Senate both recently passed legislation aimed at providing relief to homeowners facing foreclosure, and many states have passed or proposed similar measures. Many of the laws being considered, or already enacted, could have a significant impact on the default servicing industry. In addition, the Executive Branch has also attempted to address the issue via programs such as HOPE NOW and FHASecure, which are designed to provide lifelines to distressed homeowners.”

Foreclosure activity increased 112% in the first quarter of 2008, according to the RealtyTrac U.S. Foreclosure Market Report, and Sharga noted that myriad state and federal governmental entities, including the U.S. Senate Joint Economic Committee and Banking Committee, Treasury Department, Federal Reserve, FBI and New York State Banking Department, have requested in-depth foreclosure data from RealtyTrac to help inform public policy decisions.

Sharga is responsible for building and maintaining the RealtyTrac brand, corporate positioning and messaging, public relations and investor relations, as well as all sales and marketing communications activities. As a spokesman for the company, Sharga has been quoted extensively in the news media on real estate, foreclosure activity, mortgage banking as well as real estate trends. He has appeared on the NBC Nightly News, CNN, CBS, ABC World News and NPR. He is frequently quoted in the Wall Street Journal, The New York Times, The Washington Post, the Los Angeles Times, among other major daily newspapers.

Prior to joining RealtyTrac in 2004, Rick spent more than 20 years developing corporate and product branding strategies for technology start-up companies and international corporations such as DuPont, Fujitsu, Hitachi and Toshiba. Rick began his career with one of the world’s largest ad agencies, Foote, Cone and Belding, and also had successful engagements with Ketchum Communications and McGraw-Hill.

About RealtyTrac Inc.

Ranked as the third largest real estate site by MediaMetrix and No. 53 on Inc. magazine’s 2006 Inc. 500 list of the nation’s fastest-growing private companies, RealtyTrac Inc. (www.realtytrac.com), is the leading online marketplace for foreclosure properties, providing all the resources that home seekers, investors and real estate agents need to locate, evaluate and buy properties below market value.

Founded in 1996, RealtyTrac publishes the largest and most comprehensive national database of pre-foreclosure, foreclosure, For Sale By Owner, resale and new construction properties, with more than 1 million properties across the country, property reports, productivity tools and extensive professional resources. RealtyTrac hosts nearly 3 million unique visitors monthly and has been chosen to supply foreclosure data to MSN Real Estate, Yahoo! Real Estate and The Wall Street Journal’s Real Estate Journal. For more information, visit http://www.realtytrac.com.

About USFN

USFN is a national not-for-profit association of select law firms, trustee companies and associated supplier members that provides comprehensive default services to the mortgage banking industry. For additional information, visit USFN's Web site at http://www.usfn.org. Founded in 1988, USFN members provide services in all 50 states and Washington, D.C

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