RealtyTrac CEO Will Participate on Panel with Citigroup’s Sr. VP of Loss Mitigation and the Commissioner of the California Dept. of Corporations
IRVINE, Calif. – Oct. 1, 2008 – James J. Saccacio, chief executive officer of RealtyTrac® (http://www.realtytrac.com/), the leading online marketplace for foreclosure properties, will provide insight on foreclosure trends as a featured panelist at the American Financial Services Association’s 10th Annual State Government Affairs Forum tomorrow in Beverly Hills, Calif.
Saccacio will participate in a panel discussion titled “Fallout from the Foreclosure Crisis: Where are We Now?” at 1:30 p.m. in the Beverly Hills Ballroom of the Beverly Hilton. Participating with Saccacio in the panel discussion will be Preston DuFauchard, Commissioner of the California Department of Corporations, and Bryan Bolton, Sr. Vice President of Loss Mitigation at Citigroup. The discussion will be moderated by Susan Hancock, Deputy Commissioner with the Virginia State Corporation Commission’s Bureau of Financial Institutions.
Saccacio is scheduled to present a synopsis of historical and current foreclosure trends as well as an outlook on future foreclosure activity.
“I’m honored to be invited by AFSA to participate in this important discussion about how the problems in the housing market are rippling throughout the entire financial industry and impacting access to credit,” Saccacio said. “I also hope our discussion will help put into sharper focus some of the missteps that led to the current surge in foreclosures and the constructive steps that can be taken to help speed the recovery and prevent history from repeating itself.”
Through August of 2008 more than 2 million properties nationwide received a foreclosure filing, up more than 50 percent from the same period in 2007, according to the RealtyTrac U.S. Foreclosure Market Report™. If foreclosure activity continues at the same pace for the remainder of the year, close to 1 million homeowners will lose their homes to foreclosure in 2008, up from about 400,000 in 2007.
Jim Saccacio joined RealtyTrac as Chairman and CEO in October of 2000. Since then the company has grown into the most trafficked foreclosure real estate website, with more than 3 million unique monthly visitors, and the go-to source for foreclosure data. Saccacio is frequently quoted in local and national media and has appeared on CNBC’s Power Lunch and the Cavuto Show on Fox Business Network, among other broadcasts.
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. (http://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/.
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