REO

Community Reinvestment Fund, USA (CRF), a national organization that provides capital to nonprofit community development lenders through its secondary market for loans, recently announced a new foreclosure remediation program for the Twin Cities area of Minnesota.

An auction of foreclosed homes in New York City was picketed by a group of two dozen protesters on Sunday. The auction of more than 375 foreclosed homes was put on by Real Estate Disposition Corp. (REDC), and was only the second event the company has held in the Big Apple.

The Mortgage Bankers Association (MBA) released its Mortgage Delinquency Survey for 2008 on Thursday, which showed that Americans fell behind on their mortgages and banks seized homes at a record pace in the fourth quarter of last year.

The National Auctioneers Association (NAA), headquartered in Overland Park, Kansas, released the results of its 2008 industry survey this week. The report showed an increase in revenue from residential real estate sold at auction.

On Thursday, Freddie Mac announced the official launch of its new REO Rental Initiative, giving qualified tenants and former owners the option to lease their recently foreclosed properties on a month-to-month basis.

Foreclosure.com, based on Boca Raton, Florida, announced that it has doubled the size of its agent services department in response to high volume and demand for programs that help connect buyers and sellers in the distressed real estate marketplace.

In an effort to help reduce the surplus of vacant homes sitting on the market, Hudson & Marshall has developed the Alliance Network Program to attract more buyers and tenants in search of affordable housing to its auctions.

Texas Gov. Rick Perry addressed the board of directors of the Texas Association of Realtors during the organization’s annual Winter Meeting held in Austin this week. The meeting included discussions relating to the statewide real estate market and Texas economy, legislative issues affecting Texas homeowners, commercial real estate trends, and professional standards for Realtors.

Minneapolis-based Wolters Kluwer Financial Services recently announced that two members of its compliance management services team have earned the prestigious Certified Regulatory Compliance Manager (CRCM) designation from the American Bankers Association’s (ABA’s) Institute of Certified Bankers (ICB).

AmeriBid, an auction provider with over 60 years of collective auction experience, and Condo.com, a condominium marketplace, recently announced a strategic partnership aimed at the growing inventory surplus of repossessed condominium homes.