REO

The real estate market is swimming with foreclosures in states like Arizona and Nevada, and banks are aggressively discounting these properties at auctions to move them off the books. As a result, distressed properties are becoming some of the most sought after homes for buyers, according to Hudson & Marshall of Texas, Inc.(H&M), a foreclosure auction firm.

HUD Secretary Shaun Donovan has announced a temporary policy that will lift the 90-day waiting period to obtain Federal Housing Administration (FHA) mortgage insurance for the purchase of a foreclosed home. FHA research has shown that acquiring, rehabilitating, and reselling foreclosed properties often takes less than 90 days. The temporary waiver will allow FHA borrowers to purchase HUD-owned, bank-owned, or properties resold through private sales as soon as they hit the market.

Results-Based Strategies for Managing the Bulk of Business That '09 Left Behind -- First American's David Tiberio lays out effective solutions for addressing elevated levels of REO inventories in 2010 and 2011.

The House Financial Services Committee passed a bill Wednesday that lawmakers say will prevent banks and other financial firms from growing so large that their collapse could disrupt the overall economy.

Despite the industry's unprecedented efforts to keep people in their homes, there are more borrowers behind on their mortgage payments than there have been in 37 years.

Goldman Sachs' latest clever idea to make money poses a dilemma for the government as the Wall Street firm negotiates to acquire tax credits from Fannie Mae.

Real estate data site PropertyShark.com has been named to the TIME.com Top 50 Websites of 2009.

Government regulators are poised to shutter Guaranty Financial Group Inc. on the heels of last week's takeover of Colonial Bank, feeding concerns about a new widespread collapse in the banking system and the Federal Deposit Insurance Corporation's ability to handle it.

Irvine, California's Real Estate Disposition Corp. (REDC) announced last week that it generated $24.9 million in sales in its just-completed national online foreclosure auction.

A recent study published by the New York Federal Reserve says that lax lending standards were not the air that inflated the market’s latest housing bubble and propelled the nation into an economic tailspin.