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Tag Archives: Auction

Treasury Projecting $204M in Proceeds from TARP Bank Sale

In May, Treasury announced exit strategies to wind down on the remaining investments it still holds from the Troubled Asset Relief Program (TARP). One of those strategies involved a second round of auctions to sell off preferred stocks it holds. On June 25, Treasury began the public offerings and announced Thursday it expects proceeds to be $204 million from the sale of preferred stock in seven financial institutions.

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Real Estate Auction Veterans Found New Company

Real estate auction veterans Larry Latham and Stephen Karbelk, CAI, AARE announced the launch of AmeriBid, their new global real estate auction company. Headquartered in Tulsa, Oklahoma, AmeriBid will manage the sale of commercial, residential, and agricultural properties nationwide for lenders, servicers, estates, private owners, and investment companies.

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DebtX Announces Sale of FDIC Assets

On behalf of the FDIC, DebtX is going to sell more than $358 million of participations, loans, and leases from the Tennessee Commerce Bank receivership, the company announced Wednesday. The portfolio includes $46.5 million of performing non-lead loan participations and $311.

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FDIC to Auction Off Midwest Properties

The FDIC is going to do something it has never done before organize an online real estate auction. The online auction will be managed by Micoley Auctions and the properties auctioned will be concentrated in the Midwest region, with assets in Indiana, Illinois, Michigan, and Wisconsin.

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New REO Inventory in 2011 = 804,423 Homes

RealtyTrac's year-end report released Thursday shows foreclosure filings - including default, auction, and bank repossession notices - were reported on 1,887,777 U.S. properties in 2011. Of that total, 804,423 homes were taken back by lenders as REO. Last year's tally of nearly 1.9 million properties with a foreclosure filing seems staggering, but it's actually the lowest reported since 2007. It's 34 percent below 2010, 33 percent below 2009, and 19 percent below the 2008 total.

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Foreclosure Filings Down 3%, RealtyTrac Reports

Foreclosure activity slipped 3 percent in November when compared to the previous month, but filings at various stages of the process showed starkly different movements, according to RealtyTrac's latest market report. Scheduled auctions hit a nine-month high following the default surge that began in August. At the same time, RealtyTrac says REO activity is at a 44-month low. Total filings are down by double-digits from a year ago, but RealtyTrac doesn't view the numbers as the making of a trend.

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Hudson & Marshall Puts over 100 New Owners in HUD Homes

Hudson & Marshall conducted an REO auction event for HUD in Las Vegas earlier this month targeting owner-occupants. The result? There are now more than 100 new owners of homes throughout both Nevada and Arizona that were previously sitting idle and vacant as part of the government's foreclosed inventory. The Las Vegas event was the culmination of a five-week aggressive marketing campaign, and was conducted in conjunction with BLB Resources.

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Hudson & Marshall to Auction Over 100 HUD REOs This Saturday

Hudson & Marshall has once again been selected to partner with HUD to auction over 100 foreclosed homes located in Nevada and Arizona. The auction will take place this Saturday, November 5th at the JW Marriott in Las Vegas. There will be two separate auction events on that day - one strictly for owner occupants and the second open to all bidders, including investors. HUD will pay a 3 percent selling agent commission to qualified brokers who are registered with HUD.

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Hudson & Marshall Donates to Military Warriors Support Foundation

National real estate auction firm Hudson & Marshall donated $65,000 to the Military Warriors Support Foundation on Monday. The foundation provides assistance to combat-wounded veterans during their transition to civilian life through a variety of programs, offering a gateway to education, life skills, employment, and homeownership.

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Auction.com Announces Results of Commercial REO and Note Sale

Auction.com announced this week that it achieved $453 million in sales - with over $600 million in unpaid principal balances sold - in its recent online auction of nonperforming notes and commercial REO properties located throughout the Southeastern United States. On behalf of its 10 institutional clients participating, Auction.com sold 187 assets, and garnered a purchase price-to-reserve rate of 111 percent.

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