2024-08-15T14:20:36-07:00 2023-11-30 752593210 Sutton Frost Cary LLP 200 E Front St Suite 200 Arlington TX 76011 990 2022-12-01 330328597 USFN USFN 8177700818 9001 AIRPORT FREEWAY 740 NORTH RICHLAND HILLS TX 76180 PAMELA L DONAHOO CEO 2024-08-15 true true Carroll Elizabeth Arnott P01965628 8176498083 2022 2024-08-08 14:25:15Z PAMELA L DONAHOO 9001 AIRPORT FREEWAY 740 NORTH RICHLAND HILLS TX 76180 2764669 false X usfn.org X 1988 CA USFN serves its members and mortgage servicing professionals by providing first-in-class education, networking opportunities, publications, and industry advocacy in support of effective and efficient business operations, as well as legal and regulatory compliance. 15 15 5 400 27692 55848 228942 1038949 2505877 5981 6053 721 6596 1101499 2747468 0 0 785494 834464 0 0 581453 1697379 1366947 2531843 -265448 215625 1564439 1123270 1482027 820744 82412 302526 X USFN serves its members and mortgage servicing professionals by providing first-in-class education, networking opportunities, publications, and industry advocacy in support of effective and efficient business operations, as well as legal and regulatory compliance. true false While operations continued to return to pre-pandemic levels in some areas, other activities remained digitual and virtual. In September 2022 our largest event was postponed To Jan 2023) due to a hurricane striking Florida and closing down transportation and venues. Two major USFN Events returned to smaller audiences, but attendance and development of virtual education grew. The Mortgage default industry slowly emerged from moratoriums imposed on them at the state and federal level that prevent them from moving any foreclosures or other related activities forward. Several member firms have merged or left the business sector. USFN PUBLICATIONS:The USFN Report, a quarterly legal publication addressing key issues, case law, and regulatory change, converted to a digital version. Social media (Linked-in and Twitter) were used to further the reach of articles of vital interest during these unprecedented times. The E-Update continued to address breaking news and other time-sensitive industry legal regulatory, and judicial updates pertinent to the industry. USFN News a bi monthly newsletter with curated and in house produced content was added. USFN continued to coordinate member contributions and updates to the National Mortgage Servicers Resource Directory (NMSRD) to be a one-of-a-kind state-by-state guide that is considered the definitive resource guide used by the mortgage service industry. Print and digital "desk guides" provide segment-specific resources in an easily referenced format. EDUCATION:In 2023, USFN produced more than 25 different webinars, seminars, and virtual conferences addressing issues of relevance to all levels of the mortgage servicing industry and related legal professionals. Several new programs were developed and expanded, including a new training program Learning Lab and Case Files, to respond to the void left by the lack of in-person training and networking. USFN provided certificates of completion for these basic training modules that were presented live and available recorded at no cost to the mortgage servicer personnelUSFN provided Continuing Legal Education to member attorneys and well as attorneys who work for mortgage servicers. USFN offered more than 8 hours of CLE in 2023 including highly sought-after subjects such as legal ethics. false true false true false false false false false true false false true true true false false false false false false false false false false false false false true false false false false false false false false false false false false false false true 12 0 true 5 true true true false false false false false false false X 15 15 false false false false true true true true true false false true true true true true true true true false X VENTURITY 9726920380 14841 DALLAS PKWY SUITE 600 DALLAS TX 75254 PAMELA L DONAHOO CEO 40.00 0.00 X 181942 0 22092 MELODY RICKLES Director 2.00 0.00 X 0 0 0 ANDY SAAG Director 2.00 0.00 X 0 0 0 ANDREW BRENNER Director 2.00 0.00 X 0 0 0 RICHARD NIELSON Director 2.00 0.00 X 0 0 0 JEFFREY WEISSERMAN Director 2.00 0.00 X 0 0 0 SALLY GARRISON Vice President 2.00 0.00 X X 0 0 0 HILTON T HUTCHENS JR BOARD MEMBER 2.00 0.00 X 0 0 0 JILLIAN WILSON Director 2.00 0.00 X 0 0 0 EDDIE JIMENEZ Director 5.00 0.00 X 0 0 0 ROBERT WICHOWSKI Director 2.00 0.00 X 0 0 0 CHRISTIANNA KERSEY Director 2.00 0.00 X 0 0 0 ROY DIAZ Director 2.00 0.00 X 0 0 0 BRIGHAM LUNDBERG Director 2.00 0.00 X 0 0 0 LISA LEE President 2.00 0.00 X X 0 0 0 JEANETTE O'DONNELL Director 2.00 0.00 X 0 0 0 JAMES E CLARKE Secretary 2.00 0.00 X X 0 0 0 JAY B JONES BOARD MEMBER 2.00 0.00 X 0 0 0 181942 22092 1 false true false EVENT GARDE LLC 2115 GLENWOOD DR KALAMAZOO MI 49008 education/events 190869 1 228942 228942 advertising 541800 27692 27692 MEETINGS AND SEMINARS 541900 1514006 1514006 MEMBERSHIP DUES 541900 950159 950159 PRODUCT SALES 541900 14020 14020 2505877 5904 5904 0 0 4047 4047 4047 4047 17350 17201 149 149 149 0 0 0 MISCELLANEOUS 900099 2549 2549 2549 2747468 2484781 27692 6053 0 0 0 0 204034 0 516079 2998 61444 49909 0 12309 92124 0 0 2123 92719 39778 13144 74746 0 82073 0 0 1168801 4125 0 7754 9074 BANK AND CREDIT CARD FEES 61974 Printing and Publications 27209 DUES & SUBSCRIPTIONS 8410 taxes and fees 1016 0 2531843 0 0 0 767286 504361 0 0 12602 19388 0 0 0 0 238808 93857 83223 34890 38205 48333 172266 180685 0 0 0 335272 276646 1564439 1123270 97941 184690 870329 171623 150000 150000 363757 314431 1482027 820744 X 82412 302526 82412 302526 1564439 1123270 215625 4489 X true X false true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false true false 3999 2123 1876 79224 32767 46457 48333 RIGHT OF USE LEASES 276646 276646 OPERATING LEASE 314431 314431 X 2749834 4489 4489 2745345 2123 2123 2747468 2529720 2529720 2123 2123 2531843 Part X : FIN48 Footnote The Organization is exempt from federal income taxes under Section 501(a) of the Internal Revenue Service Code (IRC) as an organization described in IRC section 501(c)(6). Accordingly, no provision for income taxes has been made related to the Organization. However, should the Organization engage in activities unrelated to the purpose for which it was created, taxable income could result. The Organization has not incurred any federal income tax for the year ended November 30, 2023. GAAP requires the evaluation of tax positions taken in the course of preparing the Organizations tax return and recognition of a tax liability (or asset) if the Organization has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. Management has analyzed the tax positions taken by the Organization and has concluded as of November 30, 2023, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. X X X X X X false false false PAMELA L DONAHOO CEO 180000 1942 3685 18407 204034 Form 990, Part III, Line 2 several new online educational programs were introduced. Form 990, Part III, Line 4d OTHER PROGRAM SERVICES 4: USFN INDUSTRY RELATIONS:In previous years, USFN events provided a relied upon forum for ongoing dialogue between mortgage investors, servicers, and law firms to ensure that issues surrounding compliance, new or changing regulation, timelines, and changes are addressed in a timely and collaborative manner by all relevant parties. Without in-person conferences, USFN remains actively engaged with ongoing industry partnerships. USFN used the provided opportunity to provide comment to pending regulations by the CFPB and wrote amicus briefs for several key cases. The last year also saw continued dialogue with industry regulators such as the consumer Financials protection Bureau (CFPB), Federal Housing Finance Agency (FHFA), And housing-focused federal agencies such as the Department of Housing and Urban Development (HUD) as well as government-sponsored enterprises, Fannie Mae and Freddie Mac.The organization continued its strategic collaboration with other industry trade organizations such as The Mortgage Bankers Association, National Creditors Bar Association, American Legal & Financial Network, Five Star Institute, and Legal League. OTHER PROGRAM SERVICES 5: USFN COMMITTEES AND OTHER MEMBER-DRIVEN ACTIVITIES:Throughout 2023 USFN Committees provided critical support for the organization to maintain its crucial role in developing content, producing educational programming, and providing a forum for industry interchange. 2023 COMMITTEES WERE:Amicus Brief Task ForceAdvocacy CommitteeBankruptcy SectionDiversity and Inclusion SectionEducation CommitteeExecutive CommitteeFinance and Audit CommitteeLegal Issues SectionMarketing CommitteeMembership CommitteeREO & Eviction SectionAs well as other individual program task forces Form 990, Part VI, Section A, Line 1a THE EXECUTIVE COMMITTEE, COMPOSED OF 3 CURRENT OFFICERS AND IMMEDIATE PAST PRESIDENT (WITHOUT VOTE) MAY ACT ON MATTERS OF URGENCY BETWEEN OFFICIAL BOARD MEETINGS; ANY ACTIONS TAKEN IN THIS INTERIM PERIOD MUST BE RATIFIED AT THE NEXT OFFICIAL BOARD MEETING BY THE FULL BOARD. Form 990, Part VI, Section A, Line 6 REGULAR MEMBERS AND ASSOCIATE MEMBERS (SUPPLIERS). EACH REGULAR MEMBER FIRM IS AFFORDED ONE VOTE, TO BE CAST BY THE IDENTIFIED KEY HOLDER OF THE MEMBERSHIP; SUCH MEMBER FIRMS ELECT THE MEMBERS OF THE USFN BOARD OF DIRECTORS ON AN ANNUAL BASIS. REGULAR MEMBERS CONSIST OF LAW FIRMS That have applied for and received voting membership in particular states. Form 990, Part VI, Section A, Line 7a EACH REGULAR MEMBER FIRM IS ENTITLED TO VOTE ON CERTAIN AMENDMENTS TO USFN BYLAWS THAT MAY BE PROPOSED FROM TIME TO TIME, AND WHICH SUBSTANTIVELY OR MATERIALLY AFFECT THEIR MEMBERSHIP RIGHTS AND PRIVILEGES. ONE VOTE PER MEMBER FIRM IS AUTHORIZED. Form 990, Part VI, Section A, Line 7b Yes. In addition to the election of the Board members, those Bylaws involving the rights and privileges of members as well as the election of board members require regular member approval Form 990, Part VI, Section B, Line 11b THE FINANCE/AUDIT COMMITTEE WILL REVIEW THE FORM 990 PRIOR TO ITS FILING. AS SOON AS THE FORM IS READY, A MEETING VIA CONFERENCE TELEPHONE WILL BE ORGANIZED, THE FORM WILL BE SENT TO EACH AUDIT COMMITTEE MEMBER, AND THE REVIEW WILL BE CONDUCTED TELEPHONICALLY. THE CPA FIRM PREPARING THE 990 WILL BE ASKED TO PARTICIPATE AS A RESOURCE ON THIS CALL. IN ADDITION, THE FORM WILL BE PROVIDED TO THE BOARD OF DIRECTORS AS SOON AS IT IS AVAILABLE. Form 990, Part VI, Section B, Line 12c ON AN ANNUAL BASIS, ALL CONFLICT OF INTEREST FORMS ARE COLLECTED AND REVIEWED BY THE CEO; ANY DISCLOSURES ON CONFLICTS ARE DISCUSSED WITH THE MEMBER IN QUESTION AND THE PRESIDENT OR OTHER OFFICER OF THE BOARD (IF APPROPRIATE), AND ARE ADJUDGED TO BE MATERIAL OR IMMATERIAL TO THE MEMBERS' SERVICE ON THE BOARD. IN ADDITION, A CONFLCIT STATEMENT IS PRINTED ON EACH BOARD AND COMMITTEE AGENDA FOR REFERENCE AT THE BEGINNING OF EACH MEETING AND ATTENDEES ARE ASKED TO DECLARE ANY CONFLICTS AND REMOVE THEMSELVES FROM DISCUSSION OF SUCH ITEMS AT THAT TIME. Form 990, Part VI, Section B, Line 15a THE ORGANIZATION USES A BROAD PROCESS FOR THE CEO'S COMPENSATION TO INCLUDE THE USE OF THE COMPENSATION COMMITTEE, SALARIES PER THE 990'S OF SIMILAR ORGANIZATIONS FOR SIMILAR RESPONSIBILITIES; WRITTEN EMPLOYMENT CONTRACT, PUBLISHED ASSOCIATION COMPENSATION SURVEY, AND APPROVAL BY THE BOARD. ALL OTHER POSITIONS ARE STAFF POSITIONS AND THE CEO SUBMITS PROPOSAL FOR TOTAL STAFF COMPENSATION EACH YEAR DURING THE BUDGET PROCESS. THIS PROCESS OCCURS ANNUALLY. Form 990, Part VI, Section C, Line 19 GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE ON OUR WEBSITE; A BALANCE SHEET AND DETAILED FINANCIAL REPORT IS PROVIDED TO ALL MEMBERS AT THE END OF EACH FISCAL YEAR AND AT THE ORGANIZATION'S ANNUAL MEETING. EACH MEMBER HAS A UNIQUE LOGIN AND PASSWORD TO ACCESS DOCUMENTS ON THE USFN WEBSITE. NON-MEMBERS/MEMBERS OF THE PUBLIC DO NOT HAVE ACCESS TO THESE DOCUMENTS.