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Tag Archives: Auction

Markets Approach Normalcy as Foreclosure Crisis Enters ‘Ninth Inning’

The national foreclosure crisis is reaching its end as many markets work their way toward normalcy, according to the latest U.S. Foreclosure Market Report from RealtyTrac. As major evidence of this trend, RealtyTrac reports foreclosure starts reached a 95-month low in November. At the same time, overall foreclosure activity across the nation declined by 15 percent from October to November, while year-over-year, activity was down 37 percent.

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Hudson & Marshall Selected to Auction 150 FDIC Properties

Hudson & Marshall will auction more than 150 single-family properties for the FDIC using a specially tailored version of the company's online and offline auction process. Five separate auctions will take place from December 4–10 on properties located in Alabama, Florida, Georgia, and North Carolina.

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MountainView Brings Another Fannie Mae Portfolio to Market

MountainView Servicing Group announced another mortgage servicing rights (MSR) offering on Tuesday, this one a Fannie Mae portfolio valued at $152 million in unpaid principal balance. MountainView's lead advisor on the sale says these kinds of offerings are becoming more commonplace as competition over servicing rights grows within the marketplace.

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Judicial Foreclosure Auctions Elevate Foreclosure Activity

Foreclosure auctions in judicial states rose annually for the 16th straight month in October. RealtyTrac recorded a total of 30,023 scheduled judicial foreclosure auctions nationwide last month, up 10 percent from the previous month and up 7 percent from October 2012. The company says lenders are moving these properties to public auction more rapidly because there is strong demand from institutional investors looking for buy-to-rent opportunities, and because rising home prices mean more loan losses can be recouped.

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Auction.com SVP Ranked Among CRE’s ‘Top 45 Under 40’

Joseph Cuomo, SVP and director of business development for online real estate marketplace Auction.com, has been recognized by Real Estate Forum magazine as one of the commercial real estate industry's Top 45 Under 40. Cuomo was celebrated in the magazine's October issue as one of the rising superstars of commercial real estate.

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Creative Buyers, Brokers Keep Sales Humming Despite Lack of Listings

Many in the real estate industry believe there is a listing shortage, but a close look at the numbers suggests buyers in most markets are purchasing homes in increasingly larger volumes--even if some of those sales involve off-market homes not yet listed. Buyers and their real estate brokers are getting creative in buying off-market inventory in a number of ways.

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Winning Bidder in Loan Auction Sues Nationstar for Refusing Sale

Truman Capital Advisors and U.S. Bank filed suit against Nationstar after the servicer decided not to complete the sale and transfer of 534 mortgage loans Truman Capital bid on through Auction.com. According to the complaint Truman Advisors bought the non-performing loans for an agreed price of $150 million. A few days after Nationstar notified Truman Capital that it was the winning bidder, the complaint states Nationstar ""refused to complete the sale and transfer"" of the loans covered by the winning bids.

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Foreclosure Filings Drop to 74-Month Low, Judicial State Auctions Rise

Foreclosure activity in April fell to a 74-month low across the country, but many judicial states are experiencing rising foreclosures. Furthermore, judicial foreclosure auctions reached a 30-month high, according to RealtyTrac's April U.S. Foreclosure Market Report. April's scheduled judicial foreclosure auctions, which reached their highest level in 30 months, demonstrated a 22 percent monthly increase and a 31 percent yearly increase. In contrast, non-judicial foreclosure auctions reached an 88-month low, having fallen 43 percent from last April.

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