Lee S. Raphael is handling partner of Prober amp; Raphael and supervises the companies across the country personal bankruptcy practice. He has substantial experience with bankruptcy, genuineproperty and federal appellate matters. Raphael made his bachelors degree in Sociology from California State University Northridge and his Juris Doctor from Southwestern University School of Law, where he received the Deans Scholar Classification. He was confessed to the State Bar of California in 1995 and is likewise admitted to all California Federal District Courts along with the Ninth Circuit Court of Appeals. In addition, Raphael has an ideal 5.0 AV Preeminent peer evaluation score from Martindale-Hubbell. Raphaels expert affiliations include/have included: the Home loan Bankers Association, American Legal amp; Financial Network, American Bar Association, Los Angeles County Bar Association, San Fernando Valley Bar Association, Los Angeles Bankruptcy Forum, United Trustees Association, National Association of Chapter 13 Trustees, Central District Customer Insolvency Attorney Association and the Association of Southern California Defense Counsel.
Raphael spoke to DS News about how he and his company have actually stayed successful in the ever-fluctuating home loan and default servicing industry.
What is the state of the default market now that the foreclosure stock is back down to pre-crisis level?
The market is constantly in a state of flux, even as inventory drops. As the industry has actually gone through numerous difficulties, so has my company and all default maintenance law companieslaw practice. While we have experienced numerous difficulties, there are still lots of obstacles ahead. The enduring servicers and law companieslaw practice have actually emerged successfully, and we have a bright future ahead of us.
Is lawsuits diversity a problem your firm is dealing with now that repossessions rate are reaching lower levels again?
Default referral volume to law firms has actually undoubtedly dropped in general. But, honestly, my companies submit numbers have not dropped substantially. We have been really effective in retaining our customers as servicers have combined their law firmlaw practice numbers. I think we have actually benefited since we value interaction with our customers and spend a significant quantity of our time and resources educating ourselves and our customers on existing hot topics, like the Proposed nationwide Chapter 13 Plan, as well as what is on the horizon.
What are some essential factors to the success you have found throughout the variation of the housing market and default servicing market?
Education, providing at and attending conferences and being actively involvedassociated with different elements of the default servicing neighborhood, with our clients, trustees, judges and the personal bankruptcy debtor bar, are key to remaining ahead of the curve and being ready when changes are executed. Preparing for those modifications and their effects has proven to be incredibly handy.