Ron Jasgur is President at Woodward Technologies (a division of Woodward Asset Capital), the developer of award-winning, innovative and empowering default servicing softwares used by banks, mortgage servicers, asset managers, hedge funds and other institutional investors to best negotiate and manage distressed real estate sales.
We never intended to throw Realtors under the bus when we created the OfferSubmission website. With a dozen years of Realtor experience, I collaborated with my two partners in Woodward Asset Capital for the sole purpose of buying bulk REO portfolios, rehabbing some and reselling all. We expected to make some money. We didn’t expect to pull in the exact amounts that the banks somehow couldn’t get for these properties....in just days without doing any rehab.
For anyone actively working in the mortgage industry, it’s no secret that reverse mortgages have taken a brutal hit in the last two years. The U.S. Department of Housing and Urban Development issued major program changes at the end of 2017 that effectively limited the amount of proceeds and the number of people who could qualify for the loan. The result had lenders across the space enduring sizable volume drops and subsequent gashes to their bottom lines.