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Tag Archives: Auction

Auctions by ATG Pledges to Give to Nonprofits

Sellers who go through Auctions by ATG are also presented with the opportunity to fund a nonprofit of their choice. Auctions by ATG announced it is pledging 20 percent of the commission it receives from a property seller to the nonprofit of the seller's choice.

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RealtyTrac: Foreclosure Starts Slow to 79-Month Low

Foreclosure activity slowed in January with an especially notable drop in foreclosure starts, which hit a 79-month low, according to a recent foreclosure report from RealtyTrac. Foreclosure filings--default notices, scheduled auctions, and bank repossessions--were down monthly and yearly by 7 percent and 28 percent, respectively. Data from RealtyTrac also revealed a steep drop in foreclosure starts as starts fell 11 percent from the December and 28 percent from January 2012. Foreclosure starts are now at the lowest level since June 2006.

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CoreLogic: 58,000 Homes Lost to Foreclosure in October

There were 58,000 foreclosures completed in the United States during the month of October, CoreLogic reported Monday with the release of its latest National Foreclosure Report. October's tally was down 17 percent from last year when 70,000 foreclosures were completed during the month. On a month-over-month basis, completed foreclosures fell 25 percent after September's count was revised upward from the previously reported 57,000 to 77,000. CoreLogic says the larger-than-usual revision was due to an annual online auction of delinquent tax properties in Wayne County, Michigan, that weren't included in the earlier assessment.

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California Investigation into Bid Rigging Charges 26th Person

A California real estate investor became the 26th person to plead guilty or agree to plead guilty as a result of antitrust investigations from the Justice Department into bid rigging and fraud at real estate foreclosure auctions in Northern California. The ongoing investigations are focused on real estate foreclosure auctions in San Francisco, San Mateo, Contra Costa, and Alameda counties. Norman Montalvo of Concord, California was charged with four felonies in San Francisco federal court, the Justice Department announced Thursday. Norman Montalvo, of Concord, California was charged with four counts of felony in San Francisco federal court, the Justice Department announced Thursday.

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Ocwen Wins Bid for ResCap’s Mortgage Portfolio

Ocwen Loan Servicing, LLC and Walter Investment Management Corp. outbid Nationstar Mortgage Holdings and received preliminary approval for the purchase of Residential Capital's mortgage servicing and origination assets. Ocwen's $3 billion was the highest bid for the assets, which went to auction Tuesday. The final sale is contingent on approval in Bankruptcy Court November 19. After being outbid by Ocwen, Nationstar declined to submit a higher offer.

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DebtX and SEBA Announce Sale for $1.7B HUD Portfolio

On behalf of SEBA Professional Services, DebtX will sell a $1.7 billion portfolio of non-performing residential loans for HUD, DebtX announced Thursday. The portfolio, SFLS 2012-3, is made up of loans collateralized by homes across the country. It will be offered in standard national pools, as well as regional pools in support of HUD's Distressed Asset Stabilization Program (DASP).

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Foreclosures Wane in Bay State as Economy Mends: Report

Foreclosure petitions fell by nearly 30 percent last month in Massachusetts, reaching their lowest level this year as jobs crawl back to life and the economy at large continues to mend. The Warren Group, publisher of Banker & Tradesman, recorded some 1,254 petitions in June, a decline by as much as 29.5 percent from May.

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