Items Tagged with 'REO'

ARTICLES

Leveraging technology to advance bank-owned and foreclosure sales

After nine years of innovation, Auction.com continues to push the envelope
Over the past nine years, Auction.com has been effectively leveraging technology in ways that have allowed its clients to begin optimizing their disposition strategies long before properties go to foreclosure sales. Where sellers of bank-owned and foreclosure properties were previously limited in their access to potential buyers, their reach has been significantly expanded to a global audience through the internet, mobile technology, database marketing, email, social media and search engine marketing.
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Here's the best way to interpret the FHA's CWCOT program

An efficient way to move REO inventory back into the market
Every mortgage loan servicer knows the importance of moving REO back into the market efficiently. Even today, when REO inventory is dropping and the foreclosure crisis is behind us, it is still critically important that costs are reduced and loss severity limited during this process. Here's the pain point in the process.
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CoreLogic: Distressed sales keep falling

Drop in most states, including the oil markets
A new report shows that distressed sales continued to decline in all but seven states. At this rate of decline, the market is on track to see pre-crisis distressed sales numbers by the middle of 2017.
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Distressed property sales continue to drop

February REOs lowest since 2007
Distressed sales continue to drop across the U.S. Only nine states did not report a decrease in distressed sales for February, according to CoreLogic. In fact, one state’s distressed sales have decreased 59.8% since the peak in 2009.
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CoreLogic: REO sales drop to lowest level since January 2007

Maryland holds largest percentage of distressed sales
Although the market will always have some level of distressed sales, it will no longer be at the same level witnessed during the financial crisis. If the current annual decrease continues, the market would reach its pre-crisis level of 2% distressed sales by mid-2018.
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Cash sales on homes continue to decline

Account for 36% of all home sales
While the month-over-month share of cash sales increased from October to November 2015, annual shares were down. The largest percentage of cash sales were REO, and the state with the most cash sales was Michigan.
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