REO

Fannie Mae will begin using the HomeTracker Lender Center software to track property preservation efforts conducted by Fannie Mae mortgage servicers. The software, created by Dallas, Texas-based HomeTelos, will allow Fannie Mae to streamline the approval process servicers use to make requests for property preservation expenses by created standardized rules and processes for all user requests.

REO brokers that work in Detroit are seeing shorter wait periods for city inspections and increased access to records at the Detroit Water Department, according to a release by the Detroit Association of Realtors’ REO Task Force.

Earlier this month, the La Jolla, California-based Taza Corporation announced the launch of Tazahomes.com, a new software division focused on the marketing aspects of the REO market. According to a press statement released by the company, Tazahomes.

Austin, Texas-based REO maintenance and repair services company Field Asset Services (FAS) launched its redesigned Web site Thursday. The new site has a new look and added functionality that allows users to log into the company’s FAS 3.

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.