Foreclosures are down, but bank repos are up

CNBC real estate reporter Diana Olick released an article this week suggesting the housing repo man is back.

Olick is essentially tapping into the good and bad of the current marketplace by highlighting distressed property trends.

She notes new RealtyTrac data shows a decline in overall foreclosure activity. But at the same time, she says delayed foreclosures are just now going back to the banks with repossessions jumping 11% from October to November.

The takeaway is while new foreclosures are down, banks are obtaining a new stream of distressed assets that will eventually impact the marketplace.

Click here to read the full article.

Most Popular Articles

Spouse of Quicken Loans executive sues AIME’s Anthony Casa for defamation

Theresa Niemiec, wife of Quicken Loans Executive Vice President Austin Niemiec, has filed a defamation lawsuit against Anthony Casa, CEO of the Association of Independent Mortgage Experts, for comments he made about her in a video message that he filmed and sent to her husband and others in the mortgage industry.

Jul 12, 2020 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please