REO

J.C. Flowers & Co., Dune Capital Management, and the hedge fund Paulson & Co. are set to buy the assets of the failed mortgage lender IndyMac, according to unnamed sources in multiple news reports.

Columbia, Maryland-based CMSI Group Inc., a company that helps financial institutions mitigate credit risk, recently announced the first of two software applications for assessing the underlying loss risk of a lender’s loan portfolio.

Irvine, California-based Real Estate Disposition LLC (REDC), a national real estate auction company, recently announced that it sold 634 homes for $56.6 million during its just-completed auctions in Chicago and Las Vegas November 22-23.

*With Contracts Collapsing at Record Rates, We Offer Some ‘Closed-Minded’ Tips for Transaction Success* In today’s market, it is difficult enough for many sellers to get a buyer under contract, but getting the transaction to close can be an even bigger challenge.

Unquestionably, the number of foreclosures in Arizona has reached an unprecedented high. The state has consistently ranked within the top 5 in terms of properties with foreclosure filings, according to RealtyTrac, a national database of foreclosure and bank-owned properties.

Real Estate Disposition Corporation, LLC (REDC), a national real estate auction company, recently announced that it sold 713 homes for $68.3 million at its auctions in Arizona and Minnesota. Those auction results bring REDC’s 2008 production to 16,454 foreclosed homes sold for $2.

Overbuilding and a high rate of foreclosures have toppled Florida’s housing market, making it one of the worst in the nation. With ample supply to choose from, savvy buyers are turning their attention to bank-owned foreclosure auctions.

Aspen Grove Inc., a provider of workflow solutions for foreclosure, bankruptcy, eviction, and REO, yesterday released its newest version of REO management software, iAgent version 3.0. Changes to the program have been designed especially to increase REO management efficiency and broaden sales results due to its more efficient process management capability, the company explained in a press statement.

Today’s tumultuous housing market can be a dangerous place for the brokers, agents, and field inspectors who must walk into foreclosed and REO properties on a daily basis. Occupied or vacant, these properties represent unfamiliar territory often rife with unknown peril.

The Dallas-Fort Worth (DFW) Realtors group is the first local real estate association in the United States to offer the National Association of Realtors (NAR) Green Designation Course. Specifically designed for member Realtors, the course provides an in-depth understanding of what green means for every aspect of real estate: residential, commercial, and property management.