Mortgage-industry association REOMAC recently announced it has rebranded with the new name National Association of Default Professionals (NADP) to more accurately reflect the organization’s charter and better identify with the professionals and companies that comprise the association’s membership, the company said in a press release.

The new branding was unveiled at the association’s annual summit in Denver, Colorado in July by association President Mark Paniccia.

In his address to the sold-out summit audience, Paniccia noted “this is the natural evolution of REOMAC and better reflects the organization’s mission of promoting the success of professionals and organizations across the full spectrum of the real estate default services industry.”

REOMAC, founded in 1985, has grown over the past 36 years to become national in scope and provide education for industry professionals in all aspects of mortgage default servicing – from delinquency and default through foreclosure sales and REO disposition.

NADP Board Member and RealtyTrac Executive Vice President Rick Sharga suggested the name change was welcome, and long overdue.

“REOMAC built a legacy as the premier education and networking organization in the industry – first in the REO space, but more recently across the entire default services ecosystem,” Sharga said. “The new name – the National Association of Default Professionals – is a more accurate representation of the current membership, and of the market the organization will continue to serve.”