In The News

Industry Vet Joins REOMAC Board Of Directors

WFG National Title Insurance Company (WFG), a Portland-based, full-service provider of title insurance and real estate settlement services for commercial and residential transactions nationwide, has announced that Vice President, Sales Doug Thompson has joined the board of REOMAC, the premier non-profit trade association serving the mortgage default servicing industry nationwide.

Thompson, a 36-year industry veteran who joined WFG National Title in February 2020, has been associated with REOMAC since 2003, serving primarily on its Education Committee, where his talent for personal engagement helped the ongoing educational and organizational efforts through public-facing webinars and other opportunities.

WFG Default Title Services SVP Dean Kirchen said, “It’s been a pleasure to get to know Doug over the past year and to see his passion for REOMAC firsthand. We’re looking forward to supporting his efforts on behalf of this important industry organization in the years to come.”

As a board member, Thompson will also serve on the Advocacy Committee, which focuses on legislative matters; the Education Committee, which oversees and directs all the organization’s educational offerings; and Chair the Collaboration Committee, which is tasked with building relationships with other trade organizations to increase the organization’s impact.

“I am honored to join the REOMAC board during this pivotal year, and look forward to our Advocacy Committee’s planned fall educational effort in Washington DC,” Thompson said.  “The one-day trip in September or October will allow members to meet with U.S. Representatives and their staff members to present balanced background on existing and proposed legislation relevant to our industry.”

Founded in 1985, REOMAC is dedicated to advancing the careers of professionals in the default industry through education, networking and teambuilding. The diverse membership includes mortgage lenders, servicers, attorneys, title representatives, asset management outsourcers, real estate brokers and a wide variety of associated vendors that collectively provide a comprehensive perspective on developing trends and how they will affect the industry as a whole. REOMAC gives its members timely information that can help them mitigate losses on defaulted mortgage loans; provide ancillary services to lenders and servicers; and help manage, market, maintain, sell and ultimately dispose of non-performing real estate assets.

“We are excited and grateful that Doug has agreed to serve on our board,” said REOMAC President Mark Paniccia. “He has already given us the benefit of his expertise as an active member and committee volunteer and now, in an even more impactful way as a Board Member and Chair of the Collaboration Council. I have no doubt that he will continue to positively impact the industry and ultimately the lives of consumers through his work with REOMAC.”

“I’m also proud to join the board as a representative of WFG National Title,” added Thompson. “I’ve admired Pat Stone and Steve Ozonian for what they have created. Their focus is to truly serve the best interests of all participants in the real estate transaction with custom technology solutions and personalized service. In many ways this parallels how REOMAC seeks to serve the interests of both the public and professionals, including the underserved segments, through education and advocacy.”

Thompson, who now leads a team of title professionals at WFG National Title, began as a residential REALTOR® with Century 21 in Southern California area, then moved in 1990 into escrow and closing at Burrow Escrow and 1031 Exchange Services. With Burrow he was named ‘Affiliate of the Year’ by the West Orange County Association of Realtors while working in virtually every aspect of real estate, financing, creative transaction structuring and 1031 Exchanges.

He followed that with several years at California Counties Title, learning every aspect of the title industry, from searching to closing, and creating pre-sale preliminary title and summary grading reports for his Fannie Mae short-sale clientele. In 1996, he began a 23-year stint with Lawyers Title, quickly becoming Assistant Vice President, Sales. There he had a multi-faceted career, working in residential, lending, commercial, and default title services, frequently ranking among the top five percent nationally in sales.

“In his first year with WFG, Doug has expanded our reach across the country, as well as the depth of our expertise within WFG,” said WFG CEO Steve Ozonian. “I know he will be a great asset as a member of the REOMAC board, both for that organization and our industry as a whole.”

To learn more about REOMAC and Doug Thompson’s involvement in the organization, watch the short video interview here.