Items Tagged with 'REO'


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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HUD program offers investors a discount on default properties

Investment strategy should include claims without conveyance of title program
Because many servicers and investors are new to the CWCOT program, Chronos Solutions offers high-touch service that walks them through the whole auction process. Whether the property is being sold through a live auction at the courthouse or through an online auction process, Chronos maintains close contact with the bidders through RealtyBid.
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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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Share of cash sales fell in October to 34%

Could hit pre-crisis levels in two years
Cash sales accounted for 33.9% of total home sales in the month of October, compared to 36.4% in October 2014, according to CoreLogic. At that rate of decline, cash sales could return to pre-crisis levels by 2018.
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