Home / Media / DS News Webcast: Wednesday 3/18/2015
Print This Post Print This Post

DS News Webcast: Wednesday 3/18/2015

A report released by Auction.com on Tuesday indicated that investors still prefer a fix-and-flip strategy for the properties they purchase despite rising rents and low vacancy rates in many markets. In its February 2015 Real Estate Investor Activity Report, Auction.com reported that overall, 56 percent of investors preferred flipping compared to 42.8 percent who preferred renting. The percentage of investors surveyed in February who preferred flipping was 6 percentage points higher than in Q4 2014.

While investors overall preferred flipping, those that made one-time purchases still preferred renting, 64.5 percent. Real estate investors and those working on behalf of another investor said they preferred flipping as a strategy. Flipping was a popular strategy in western states such as California and Nevada, where more than three-quarters of investors surveyed said they preferred flipping over renting. Investors who purchase properties at live auctions were more inclined to flip, while those who bought properties online were more likely to rent.

Ocwen Financial is selling the mortgage servicing rights for $45 billion worth of performing Agency home loans to JPMorgan Chase, according to a media report. In an update on its website dated March 2, Ocwen announced that it had "signed a letter of intent with a buyer on the sale of mortgage servicing rights on a portfolio consisting of approximately 277,000 performing Agency loans owned by Fannie Mae with a total unpaid principal balance of approximately $45 billion." The report, citing a person familiar with the transaction, identified Chase as the buyer in that transaction.

About Author: Jordan Funderburk


Check Also

REO Agents to Share Some Scares

An upcoming webinar presented by Five Star’s FORCE group will explore a number of horror stories told by experienced REO agents, and the lessons learned from these perilous tales.