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Items Tagged with 'REO'

ARTICLES

Foreclosure activity hits 19-month high on rise in REOs

Starts below pre-crisis levels but auctions, REO activity well above
Trey Garrison
Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 126,868 U.S. properties in May 2015, up 1% from the previous month and up 16% from a year ago to a 19-month high. Here’s why and what it means.
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RealtyTrac: Foreclosure activity jumps to highest level in 18 months

Bank repo activity fueled big drive up in foreclosures
Trey Garrison
Foreclosure filings were up 3% in April and up 9% from a year ago, pushing to an 18-month high. Here’s where it went off track.
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Fannie Mae launches major first time homebuyer assistance program

Offering to pay 3% of purchase price for closing costs
Ben Lane
Having already begun buying mortgage loans that allow borrowers to put 3% down, Fannie Mae is launching a new program aimed at attracting more first-time homebuyers.
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Cash home sales share drops to 38.9% in January 2015

But cash sales increased 3.2% on a monthly basis
Trey Garrison
Cash sales made up 38.9% of total home sales in January 2015, down from 41.4% in January 2014, down from the peak of 46.5%. Here’s what’s happening.
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Invitation Homes prepping new single-family rental securitization

Company’s first in 2015 and fifth overall
Ben Lane
Invitation Homes will the first out of the gate in 2015, as the Blackstone Group subsidiary is prepping the year’s first single-family rental securitzation. The offering, Invitation Homes 2015-SFR1, will be collateralized by a $540.9 million loan secured by first priority mortgages on 3,072 income-producing single-family homes.
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FHFA changes Fannie and Freddie REO sales policy

Eases financial burden to homebuyers
Brena Swanson
The Federal Housing Finance Agency updated one of its policies relating to the sale of real estate owned properties. It’s not really a huge market change, but it is worth a mention.
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REO agents and brokers deserve to be paid more

The paperwork alone can be mind-boggling
Lynn Effinger
Without necessarily intending to, I am going through this process currently as it relates to REO management, marketing and disposition. And it is an eye-opening process, indeed, even for this longtime veteran of this industry.
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Stop panicking about recent foreclosure numbers

The sky is not falling
Rick Sharga
So, are we about to see housing Armageddon? Do these ominous increases in foreclosure activity mean that the market is about to implode? No. Not even close. Allow me to explain.
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Cash buyers for homes fading away

CoreLogic: REO sales continue to drive cash sales
Trey Garrison
Cash sales made up 33.8% of total home sales in August 2014, down from 36.4% in August 2013, CoreLogic reported Wednesday.
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American Homes 4 Rent misses earnings expectations

Posts net loss of $12.8M on $110.4M 3Q14 revenues
Trey Garrison
A leader and pioneer in the field of single-family rental securitizations, American Homes 4 Rent reported third quarter earnings per share of $0.15, missing analyst expectations by $0.02, but with revenue for the quarter printing at $110.4 million versus the consensus estimate of $109.2 million. The company had a net loss of $12.8 million for the third quarter of 2014.
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