Home / News / REO (page 180)

REO

MDA DataQuick Updates Property Research Tool for Distressed Sales

MDA DataQuick, one of the nation's largest independent providers of property data to real estate and mortgage professionals, recently updated PropertyFinder 2G, the company's property research tool. Changes include expanded property details on distressed sales transactions and more accurate tracking. The technology gives users access to a nationwide database of detailed property and ownership information, including property profiles, sales comparables, demographic information, and property history.

Read More »

National Home Prices Down 5.8%, Major Metros See Double Dip: Report

The November home market report from Clear Capital shows that prices nationally fell another 5.8 percent over the previous three months. The company says although the pace of decline has slowed, home prices show no signs of bottoming out yet. Thirteen of the 50 major metros in the study have already entered into double-dip territory, indicating that their current price levels are the lowest since the housing downturn began. Among them are Vegas, Seattle, Tucson, Philadelphia, and several major Florida markets.

Read More »

Lennar’s Rialto Capital Raises $300M for Distressed Investments

Lennar Corporation recently announced that its Rialto Capital subsidiary has completed the first closing of a real estate investment fund that will target REOs and other non-performing properties and mortgage assets. Rialto raised $300 million for the fund, of which Lennar itself committed $75 million. The fund will extend the Miami-based homebuilder's buying power for distressed real estate and mortgage debt for the next three years.

Read More »

Sirote & Permutt Hosts REO Legal Issues Seminar

Sirote & Permutt's mortgage banking group recently hosted its sixth annual REO Real Estate Legal Issues seminar for Alabama real estate agents who represent the firm's mortgage servicing clients. Topics included Alabama law as it relates to REO closings, title issues, manufactured housing, the Real Estate Settlement Procedures Act (RESPA), and evictions.

Read More »

Consumers Don’t Expect Housing Recovery Until 2013, Experts Agree

Americans continue to grapple with uncertainty about the housing market, with 58 percent of U.S. adults expecting recovery to be at least another two years away. Rick Sharga of RealtyTrac and Pete Flint of Trulia are of the same mind as consumers. They peg the housing recovery to begin taking shape between 2013 and 2014. The robo-signing debacle has left most consumers mired in distrust of banks and the government. The industry experts say its effect on REO sales will be minimal, but the impact on consumer confidence could be especially damaging.

Read More »

Prism Title and Closing Services Expands to Florida

Prism Title and Closing Services has expanded its services to include Florida, adding a sixth state to its service area, which also includes Ohio, Kentucky, Indiana, Michigan, and Minnesota. The company says the move was prompted by feedback from its bank clients who said that due to the marked increase in REO properties in Florida, their current vendors were having difficulty keeping up with the volume.

Read More »

Trepp Reports a Jump in CMBS Delinquencies as Rate Nears 9% Again

The recent optimism surrounding delinquencies on commercial real estate loans bundled into investment bonds has been hit with a blast of cold water. The rate of past due loans suddenly jumped in November after a big decline the month before. According to data from Trepp LLC, the percentage of loans held in U.S. commercial mortgage-backed securities (CMBS) that were 30 or more days delinquent, in foreclosure, or REO rose 35 basis points in November to 8.93 percent, putting the value of delinquent loans at $60.3 billion.

Read More »

Field Asset Services Expands Executive Team

Field Asset Services (FAS), an Austin-based provider of field services to the REO industry, recently added three members to its executive team. Karen Glasgow was hired as SVP of client operations, Loetta Arrington was promoted to SVP of business development, and Terry Sadowski was appointed chief marketing officer.

Read More »

Terranova Assists Strained Community Banks with Distressed Assets

The Terranova Group has launched a program to purchase troubled assets from the portfolios of community banks while raising capital to support the banks' stability and recovery. After conducting an analysis of a bank's REO portfolio and nonperforming assets, Terranova will advise and execute a disposition strategy in which the troubled assets are acquired from the bank's portfolio.

Read More »

Pending Home Sales Surge Unexpectedly in October

Industry data released Thursday showed that the number of contracts signed for home purchases climbed in October. The news came as a surprise to analysts and industry professionals who have been anticipating a continued falloff in buyer demand due to the typical seasonal slowdown in home sales, compounded by concerns that servicers' affidavit problems could muddy some transactions. The National Association of Realtors says its gauge of pending sales for previously owned homes rose 10.4 percent.

Read More »