Category Archives: REO

Managing the Wave of Foreclosures Coming

Posted on February 5, 2011 by admin

Reprint from CNBC’s Diana Olick “You can talk all you want of renewed interest in housing, slowly increasing sales and supposed stabilization in prices, but the elephant in the room is slowly growing, and banks, Fannie, Freddie and the government … Continue reading →

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Is Housing Recovery a Year Away?

Posted on February 5, 2011 by admin

According to Bank of America Merrill Lynch (BOAML) strategists, the nadir for home prices appears to be still more than a year away.  ”Currently, our view is toward the benign side relative to the market’s expectations, we think,” BOAML strategists … Continue reading →

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Shadow Inventory Pushes Foreclosures to New Heights

Posted on February 3, 2011 by admin

Two reports from separate credit rating agencies are drawing the same conclusion: Foreclosures will reach new heights this year, even after setting records in 2010.  ”DBRS expects foreclosure filings and completed foreclosures to reach record levels in 2011 as alternatives … Continue reading →

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Only 30% of Foreclosures on Market

Posted on January 31, 2011 by admin

ALERT: Singer Construction is actively seeking private lenders and investment partners to keep up with demand and to take advantage of the increase in Orange County REO houses coming to market over the next several months. Click for more details. … Continue reading →

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Rehabs Speed REO Sales Cycle by Two-Thirds, Study Says

Posted on January 14, 2011 by admin

The market’s been flooded with REOs, and banks are struggling to get these properties off their books and back into the hands of responsible homeowners. According to Field Asset Services, the answer to moving these properties faster is simple – … Continue reading →

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Fannie and Freddie Restart Stalled REO Sales

Posted on November 30, 2010 by admin

Both Fannie Mae and Freddie Mac have instructed their selling agents to move forward with transactions involving foreclosed properties in cases where sales were suspended due to potential problems with the legal paperwork. The GSEs were forced to temporarily halt … Continue reading →

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Putting foreclosures on hold will cost lenders

Posted on September 3, 2010 by admin

In a letter sent to servicers, Fannie Mae said it will now review the compensatory fees due to servicers in cases where the government sponsored entity feel servicers are unnecessarily delaying foreclosure.  It says that loans “must not be put … Continue reading →

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No New Foreclosure Wave in Sight for Orange County, CA

Posted on August 16, 2010 by admin

Foreclosure activity in California was again mixed last month, according to a locally based firm that tracks every foreclosure action in the state, ForeclosureRadar. The company’s latest California market report shows that foreclosure filings and cancellations dropped in July after … Continue reading →

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Foreclosures fall as bank repossessions quicken

Posted on July 16, 2010 by admin

According to RealtyTrac, the number of foreclosure filings of all types — including notices of delinquency, auction notices and repossessions — fell during the first six months of 2010.  There were 1,654,634 properties with foreclosure filings during that time, a … Continue reading →

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70% of Modifications in May Were Non-HAMP!!

Posted on June 28, 2010 by admin

Mortgage servicers completed 112,088 loan modifications through their own proprietary programs in May, according to a report released this week by HOPE NOW. That compares to 47,724 new permanent modifications under the government’s Home Affordable Modification Program (HAMP) during the … Continue reading →

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