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Items Tagged with 'REO'

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Vacancies drop again in Invitation Homes rental securitizations

Continues downward trend
Ben Lane
In Invitation Homes’ $1 billion single-family rental securitization, which launched earlier this year, the cash flow vacancy rate of the underlying properties fell to 5.4% as of July 31, down from June’s revised figure of 6.2%.
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Distressed sales down to lowest share since before housing bubble broke

Sales accounted for just 11% of total home sales in June
Trey Garrison
For the 19th consecutive month, distressed home sales fell on a year-over-year basis, declining to 11.4% of home sales in June.
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Foreclosures rise in July, but still down from 2013

Foreclosure starts up 128% in Nevada
Ben Lane
Per RealtyTrac’s report, a total of 49,624 U.S. properties started the foreclosure process for the first time in July, which represents a 5% increase from June. But the figure is still down 18% from a year ago, which marks the 24th consecutive month with a year-over-year decrease in U.S. foreclosure starts.
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Starwood Waypoint purchases $219 million in non-performing loans

REIT increases delinquent loan holdings
Ben Lane
“NPL purchases continue to be a great channel for acquiring single-family homes in our target markets at attractive discounts while enhancing equity returns through alternative resolutions,” Gary Beasley, co-CEO of Starwood Waypoint, said.
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American Residential joins booming REO-to-rental securitization market

Becomes latest to attempt to capitalize on burgeoning asset class
Ben Lane
The offering, American Residential Properties 2014-SFR1, will mark the third straight week that a REO-to-rental securitization has hit the market, demonstrating the growing popularity of the asset class.
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Vacancies spike in Colony American Homes $514 million rental securitization

Delinquency rate increases 114%
Ben Lane
In total, the vacancy and delinquency rate by property count has risen nearly 81% in the last two months, from 4.7% in April to 8.5 in June.
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Business booming at American Homes 4 Rent, but…

Company reports 2nd quarter loss despite rising rental income
Ben Lane
As of June 30, American Homes 4 Rent had 23,364 leased properties, an increase of 2,698 properties from March 31. The company also reported “continued strong occupancy,” with 94.7% of properties leased that have been previously leased or rent-ready for more than 90 days and total portfolio occupancy of 86.0%.
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Black Knight: Foreclosures still drag in judicial states

Short sale percentages and discounts decline
Trey Garrison
The nation’s inventory of loans in foreclosure is disproportionately distributed in states with judicial foreclosure processes, according to the latest foreclosure report from Black Knight Financial Services.
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U.S. REO Partners names Mary Brill managing partner

Joins after 16 years at JPMorgan Chase
Ben Lane
Brill joins USREOP from JPMorgan Chase, which she had been with since 1998. During her time at JPMorgan Chase, she held several positions, including REO manager, assistant vice president and senior operations analyst.
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Vacancies drop in Invitation Homes rental securitization

Reverses previous month’s surge
Ben Lane
"With initial lease expirations peaking in May and June 2014 (23.3% of all properties in the pool had leases expiring through May 2014 and 34.3% through June 2014), Morningstar expects the month-end vacancy rate to stabilize and to potentially decline," Morningstar said in its update.
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