The Foreclosure Market and the Impact of First Look Laws on Bidding the Post-Auction Process

  1:00 PM EST | 12:00 PM CST | 11:00 PM MST | 10:00 AM PST

NADP and UTA Members - $25  | Non-Members - $50

This one-hour webinar will begin with a fifteen minute ‘state of the foreclosure market’, followed by a summary of the new ‘First Look Law’ in California on REO properties and the impact on the post-auction process. We’ll cover who qualifies as an eligible bidder; the definition of an ‘institution’ eligible to acquire 1-4 unit residential properties; and unintended ambiguities in the statutes.

Presented by:

Michelle Mierzwa, Esq. 

Partner, Compliance Division Wright Finlay & Zak

Michelle A. Mierzwa joined Wright, Finlay & Zak’s Compliance, Licensing and Regulatory Division in 2015, providing loan originators, lenders, servicers, trustees and others in the mortgage industry with state and federal compliance and regulatory counsel. Since 1998, her accomplishments include the management and resolution of litigated matters through jury and bench trials and appellate practice, creating the legal department for one of the largest non-judicial foreclosure trustees in the Western United States, the coordination of compliance audits, and managing the California branch of a national law firm. Ms. Mierzwa has worked with lenders and mortgage servicers of all sizes to ensure their compliance with state and federal laws, including, but not limited to, California Consumer Privacy Act, California and Nevada Homeowner Bill of Rights, state and federal FDCPA, RESPA, TILA, SCRA, Washington Foreclosure Fairness Act, Nevada, Oregon and Washington Foreclosure Mediation Programs, Dodd-Frank Act and CFPB Rules, state licensing laws, and governmental and regulatory agency investigations.

Eric Sellfors
Cambridge Homes

Erik is the founder and Broker/Owner of Cambridge Homes which serves the greater Los Angeles region of Southern California. He has 36 years of experience in real estate across several market cycles. Erik brings a strong track record of achievements based on his ability deliver results, negotiate complex situations and provide an excellent customer service experience.

From an early age, Erik spent his weekends and afternoons helping his parents' flip homes in the Valley. That led to a passion for buying and selling real estate. He began his own career in 1986 with Merrill Lynch Realty then the next three years selling apartment buildings for Marcus and Millichap. In the 90's he began selling REO and found it was a perfect fit having flipped so many homes with his family. In 2008 he opened RE/MAX Coast and Valley. Today, he and his team specialize in representing both private homeowners and institutional clients in the sale of their homes. Erik’s clientele has included nearly every major bank including Bank of America, Wells Fargo, and Chase as well as many outsourcers and hedge funds. He has also represented GSE’s such as Fannie Mae in the disposition of their homes. He sits on the board of NADP (Formerly REOMAC) and chairs the legislation and Advocacy committee. He loves his local Rotary club. He has two daughters who attend USD and Stanford. The family loves to ski & surf together.

Rick Sharga
President & CEO, CJ Patrick Company

Rick is the founder of CJ Patrick Company, a consulting firm that helps real estate, financial services, and technology companies develop a position of competitive advantage and use it to drive business strategy, marketing, and sales.

One of the country’s most frequently quoted sources on real estate, mortgage and foreclosure trends, Rick has appeared regularly over the past 15 years on CNBC, the CBS Evening News, NBC Nightly News, CNN, ABC World News, FOX, Bloomberg and NPR. Rick is a founding member of the Five Star National Mortgage Servicing Association, a member of the Corporate Board of Governors of the National Association of Hispanic Real Estate Professionals, the Advisory Council of the Asian Real Estate Association of America, and was included in the Inman News Inman 100, an annual list of the most influential leaders in real estate in both 2013 and 2014.

An accomplished executive with over 25 years of experience in consumer and B2B marketing, Rick was formerly an Executive Vice President for Carrington Mortgage Holdings, and Chief Marketing Officer of the company’s Vylla business unit. Rick was previously the Chief Marketing Officer of Ten-X, the leading online real estate marketplace, where he started in July of 2013 as EVP of the company’s Auction.com business unit.

Prior to that, Rick spent eight years at RealtyTrac, whereas SVP he was responsible for marketing, business development and data operations, and won the Stevie® Award for National Marketing Executive of the Year. Before RealtyTrac, Rick developed and executed sales and marketing programs for technology companies such as Fujitsu, JD Edwards, Toshiba, and Hitachi; start-ups like Tickets.com; and consumer brands including Pizza Hut, Acura and Cox Communications.

Moderated by:

Sr. VP Operations, TREO Asset Services

Mark Paniccia is Vice President of Business and Commercial Lending for TREO Asset Services – Eastern Division. He is also the Managing Member of Sigma Development, a real estate fix and flip firm operating actively in 6 states, located in Midlothian, Virginia. Prior to that he was the Senior Vice President of Real Estate Owned at SunTrust Mortgage. Mark began his career in portfolio management as a Real Estate Specialist for Merrill Lynch and later as Director of Real Estate Services for Prudential’s Diversified Services Group. Mark spent most of the 2000’s with GMAC ResCap on the commercial side, managing a $2+ billion portfolio of structured leases and lot options for large homebuilders. He is a graduate of the University of Connecticut with a BA in Political Science and is currently President of the National Association of Default Professionals (NADP), an industry nonprofit. He has been an active Sigma Chi volunteer for 35 years, and in his spare time is heavily involved in animal rescue, adoptions, and transports for Richmond Animal League.