REO news
Evan Nemeroff | May 16
Short sales outnumbered REO sales in 12 states in January, RealtyTrac said, indicating that lender-servicers have agreed to sell the home for less than what’s owed on the mortgage, therefore preventing a borrower from going through the foreclosure process which costs more than executing a short sale.
Evan Nemeroff | May 16
Beazer Homes USA formed a real estate investment trust called Beazer Pre-Owned Rental Homes to acquire, refurbish and lease recently constructed, previously owned single-family homes on a large scale in select markets throughout the country.
Evan Nemeroff | May 15
Real estate auction veterans Michael Fine and Alan Kravets formed Hilco Real Estate Auctions, which will provide buyers and sellers with transparent sale methodologies for conducting real estate transactions.
Evan Nemeroff | May 15
REO assets represented one-third of the overall CMBS delinquency rate in April, reaching $11.1 billion in scheduled loan balance.
Amilda Dymi | May 14
New findings show persisting foreclosure problems in the nation’s 100 largest metro areas are deteriorating for the first time in over six quarters.
Evan Nemeroff | May 14
The California Association of Realtors and the California District Attorneys Association have launched a campaign to warn homeowners about the alarming increase in scams targeting foreclosure victims.
Evan Nemeroff | May 14
Under the servicing settlement, state funds are supposed to be used “to avoid preventable foreclosures” and “ameliorate the effects of the foreclosure crisis.”
Evan Nemeroff | May 14
The owners of a Los Angeles-based real estate company were charged last week by the Securities and Exchange Commission with violating antifraud and securities registration provisions by defrauding investors through a business that had false track records.
Bonnie Sinnock | May 14
A Fannie Mae executive said while refis could decline a bit year-over-year, there could be a small increase in purchases.
Evan Nemeroff | May 11
Two bank-owned apartment complex assets have been sold in separate transactions by an investment sales team at Newmark Grubb Knight Frank on behalf of a purchaser and a receiver.
Evan Nemeroff | May 09
The tool provides investors with property-level information to make business decisions regarding which properties to possibly buy and convert into rental units.
Amilda Dymi | May 07
Demand, as a rule, leads to innovative business strategies. It is pressuring specialized vendors and other third-party servicers to strategize their business improvements so they can fill the gap created by the banks.
Evan Nemeroff | May 04
Banks and servicers are stressing that local governments, community members and anyone driving by a vacant property that sees a home with any type of damage needs to communicate this to them as soon as possible.
Bonnie Sinnock | May 04
While speed to market is important in REO sales, accelerating turn times or lowering costs too much for valuations compromises the product.
Evan Nemeroff | May 03
Since 2009, the Nevele Grande Hotel and Country Club has been closed. The property had gone into receivership prior to the purchase by Nevele Investors.
