RealtyTrac Executive Will Participate in Forum Exploring Solutions to the Housing Crisis
IRVINE, Calif. – June 16, 2008 – Real estate expert Rick Sharga, vice president of marketing at RealtyTrac™ (http://www.realtytrac.com/), the leading online marketplace for foreclosure properties, will speak at the first-ever Coalition for Mortgage Industry Solutions (CMIS) Executive Leadership Summit on Tuesday, June 17, at Dickstein Shapiro LLC in Washington, DC.
Sharga is slated to participate in a 10:00 a.m. panel discussion along with Douglas G. Duncan, Vice President and Chief Economist, Fannie Mae, and Richard H. Neiman, Superintendent of Banks, New York State Banking Department, titled “Impact on Capital Markets, Financial Institutions, Consumers and Communities.”
“The surge in foreclosures and the continued housing slump has rattled the financial and credit markets,” Sharga said. “Industry and government efforts to-date have had little or no material effect in slowing down the rate of foreclosures, and this summit will provide a forum for all interested parties to discuss possible solutions .”
Foreclosure activity increased 112 percent 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 OFHEO, have requested in-depth foreclosure data from RealtyTrac to help inform public policy decisions.
As a spokesman for RealtyTrac, 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.
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/.
The Coalition for Mortgage Industry Solutions (CMIS) is a forum for a diverse community of interests, including borrowers, investors, lenders, servicers, brokers, investment banks, GSEs, rating agencies, assignee/bankruptcy remote trusts, governmental and other interests both domestically and internationally. The Coalition provides a unique forum in which leaders from across these industries can work together and take a leading role in defining meaningful and viable solutions for the welfare and benefit of their industries, the economy and the consumer. For more information, visit www.mortgagecoalition.org
949.502.8300 Ext. 139
949.502.8300 Ext. 268
Detailed & Historical Data:
949.502.8300 Ext. 158
Dickstein Shapiro LLC, Potomac Conference Center, 1825 Eye Street, NW, Washington DC, 20006