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Tag Archive | "reo"

Servicers Asked to Consider a $21,000 “Cash for Keys” Option

Monday, March 28, 2011

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Tweet After reports that the largest mortgage servicers, some attorneys general, and even some government agencies are not comfortable with the terms in the servicer proposal, there has been renewed effort to try to come to a solution that works for all parties. The proposal was given to servicers with the intent of revising and […]

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SBA Offers Government Guarantees on Securitized Mortgages

Thursday, July 8, 2010

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Tweet By: Carrie Bay The U.S. Small Business Administration (SBA) recently announced the first nine loan pool originators authorized by the agency to assemble and sell pools of 504 program first mortgage loans. The federal agency called this “a major step to jump-starting a secondary market” that will make financing more accessible for small businesses. […]

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Securing your property

Thursday, June 10, 2010

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Tweet When a real estate company gets a bank owned property to sell we have to make sure it is secure. By securing the property within 12-24 hours of getting the property we can keep it safe for the bank and this will help keep the neighbors happy so no unwanted ppl break in. Below […]

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New Survey Finds 36% of Homebuyers Expect Half-Off on REO

Friday, May 21, 2010

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Tweet A new survey conducted by Harris Interactive found that 36% of homebuyers expect to receive a 50% discount or more when purchasing an REO property. Harris conducted the survey of more than 2,500 homebuyers between May 10-12 for the online foreclosure marketplaces Trulia.com and RealtyTrac. While the survey showed homebuyers are beginning to expect […]

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Major Banks Under Investigation for Mortgage Investment Fraud

Friday, May 14, 2010

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Tweet Prosecutors are investigating eight major banks to determine if they provided misleading information to credit ratings agencies in order to deceive investors about the quality of mortgage-backed securities (MBS) they were selling. New York Attorney General Andrew Cuomo has reportedly issued subpoenas to Citigroup, Goldman Sachs, Morgan Stanley, Bank of America’s Merrill Lynch, Credit […]

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Home Prices Rebound 1.1% after Seven Down Months: IAS

Wednesday, May 12, 2010

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Tweet The U.S. housing market is showing some signs of life, according to the default management and valuation firm Integrated Asset Services, LLC (IAS). The Denver-based company said Tuesday that its national benchmark for residential property prices gained 1.1 percent in March. The increase follows seven straight months of declines recorded by the IAS360 House […]

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Fannie Mae Requests $8.4B in Federal Aid after Q1 Loss

Tuesday, May 11, 2010

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Tweet Mortgage giant Fannie Mae has reported a net loss of $11.5 billion for the first quarter of 2010. The deficit has prompted the GSE to ask the Treasury for another $8.4 billion in federal funding. Last week, Freddie Mac requested $10.6 billion from the Treasury after it too posted another quarterly loss. According to […]

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Quarterly Drop in Home Prices Doesn’t Budge 5.1% Annual Gain

Friday, May 7, 2010

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Tweet Home prices across the United States continue to slide in the quarterly context, but industry data released Thursday indicates that when you widen the scope, year-over-year numbers are still showing a healthy bounce-back from the depressed levels recorded in 2009. Add to that the fact that REOs are coming to market at a much […]

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How to buy a foreclosure

Thursday, May 6, 2010

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Tweet NEW YORK (CNNMoney.com) — You want to buy a foreclosure? Remember, there are both great opportunities and great pressures and pitfalls in this market. First, you have to decide at what stage of foreclosure you want to buy. There are three options: 1. pre-foreclosure; 2. sheriff’s auction; 3. repossession, called REO (for real estate […]

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Distressed Sales Constitute Big Share of Home Resale Market

Thursday, May 6, 2010

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Tweet Distressed Sales Constitute Big Share of Home Resale Market by Jann Swanson Distressed home sales are once again approaching a one third share of the real estate market for existing homes, depressing home price trends and indicating that the housing market is not yet out of the woods. According to a report issued by […]

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Pending Home Sales Up in March. Stabilization Depends on REO Liquidation, Jobs, Regs

Wednesday, May 5, 2010

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Tweet The National Association of Realtors released the Pending Home Sales Index data today. NAR’s Pending Home Sales Index measures housing sales contract activity. A sale is listed as “pending” when a contract to purchase an existing home (single-family, condos, and co-ops) has been signed but the transaction has not closed. A signed contract is […]

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House Bill Would Allow Those Facing Foreclosure to Stay on as Renters

Friday, April 30, 2010

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Tweet Two House Democrats have introduced a bill to create a “right to rent” for homeowners facing foreclosure. The bill, sponsored by Rep. Raúl M. Grijalva (D-Arizona) and Rep. Marcy Kaptur (D-Ohio), would allow a family receiving a foreclosure notice to petition a judge to stay in their home as renters under a 5-year lease. […]

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Foreclosures rise again despite best efforts

Friday, April 30, 2010

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Tweet Business First of Columbus – by Kevin Kemper Homeownership in Central Ohio has continued its dramatic erosion this year as another wave of foreclosures washes over the region. Despite the improving economy and the best efforts of homeowner-assistance programs, 3,714 foreclosure lawsuits were filed in the eight-county Columbus region in the first quarter, up […]

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Tax Credit Expiration Unlikely to Deter Homebuyers: Study

Thursday, April 29, 2010

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Tweet By: Brittany Dunn Only time will tell how the residential real estate market will be affected by the expiration of the homebuyer tax credits, but a survey released Wednesday by Prudential Real Estate and Relocation Services, Inc., found that the sunset of these incentives is unlikely to deter future purchase activity. While more than […]

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Short Sales…A Breeding Ground for Fraud?

Monday, April 26, 2010

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Tweet By: Carrie Bay With defaults continuing to mount and declining property values still widespread, the industry is seeing an increase in short sales. Such transactions are expected to burgeon even further now that the federal government has implemented its Home Affordable Foreclosure Alternatives (HAFA) program. Under HAFA, servicers participating in the administration’s foreclosure prevention […]

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