REO

Scott Gibson of RE/MAX Renaissance Realty – Gibson Laughton Group in Arizona, has been ranked No. 4 on the list of Top 100 Teams in the United States published by RE/MAX Mainstreet, according to standings for January through May of 2009 based on residential commissions paid.

The Treasury Department said last week that loan originations made by the nation’s largest banks grew modestly during the month of May, and according to a report issued this week by the Troubled Asset Relief Program’s (TARP) inspector general, a large majority of institutions who have received government bailout money say they’ve used the funds to write new loans.

Purchasers of single-family foreclosed homes offered through Freddie Mac’s HomeSteps division will receive a comprehensive two-year home warranty paid for by Freddie Mac, the company announced Monday.

Nearly two million foreclosure filings were recorded during the first half of the year, according to the market research company RealtyTrac. One in every 84 homes in the United States has received at least one foreclosure filing, the company says.

Rep. Barney Frank (D-Massachusetts) wants to ensure the growing population of jobless Americans don’t fall victim to foreclosure. At a House Financial Services Committee hearing on Thursday – a committee which Frank chairs – he pushed for another $6.

BA Urban Solutions LLC, a nationwide minority-owned REO asset management company headquartered in Sugar Land, Texas, recently unveiled an initiative that aims to bring homeownership back to urban communities through a network of industry alliances.

The Atlanta-based real estate default law firm of Rubin Lublin, LLC has announced the hiring of Erica Malcom. Malcom will join the firm as an associate attorney working within the title department. Managing Partner Glen Rubin, commented, Erica makes a strong addition to Rubin Lublin.

Appraisal practices have taken center stage lately with the roll out of the new Home Valuation Code of Conduct (HVCC) by the GSEs. And now, the National Association of Home Builders (NAHB) has raised its own concerns over valuations of foreclosures, REOs, and short sales.

On Tuesday, Jacksonville, Florida-based Lender Processing Services, Inc. (LPS) announced the formation of the LPS Real Estate Group. The new division was created as a result of the company’s acquisition and rebranding of the businesses comprising FNRES Holdings, Inc.

US Real Estate Services Inc. (USRES), a national provider of REO management services headquartered in Lake Forest, California, has announced the launch and immediate availability of a new service – USRES Property Management.