Tag Archives: Auction.com

New Vista Asset Management announced Tuesday that it has purchased the REO asset management business unit of REDC Default Solutions, LLC. Terms of the transaction were not disclosed. The asset management unit, previously operated within REDC, which is a wholly-owned subsidiary of Irvine, California-based Auction.com, LLC(formerly Real Estate Disposition, LLC), offers outsourced residential asset management services for banks and other financial institutions.

According to Auction.com, a real estate marketing and disposition services site, 2010 was a record year. The site offered 35,350 foreclosed assets for $2.4 billion last year, numbers that lead the industry, the site's owner Real Estate Disposition Corp. (REDC) said in a statement. So far in 2011, Auction.com has auctioned 4,710 foreclosures for $258 million at 94 percent of reserve, according to the company.

Jones Lang LaSalle and Real Estate Disposition, LLC, announced Thursday a list of almost $132 million in non-performing notes will go on the online auction site www.auction.com in October. In this roster are 33 primarily non-performing notes from two special servicers, two regional banks and one life company.