Many foreclosed properties sell at far lower prices because servicers and investors often fail to carry out repairs and take full advantage of insurance coverage when properties sustain insurable damages.

Investors will spend what they have to in order to keep REO in marketable condition, but they often work very hard to find asset managers who can sell the property in as close to the condition they find it in as they can. That’s just good business.

Field service companies have put more emphasis on pre-sale mitigation, auditing the work they complete, and concentrating on other ways to protect the value of REO properties in pre-sale in the future.

Until recently, the deterioration of properties didn’t pique the interest of servicing agencies until it was clearly designated REO and, until recently, this was all well and good. But the winds have changed.

Field service companies need to maintain a quality vendor network to complete property preservation work effectively and to show theirs and their clients’ commitment to strengthening communities across the country.

If your Loss Mitigation and REO Departments interact with listing agents in the traditional fashion, then you are enabling fraud.

No single solution will repair the damage done by the lingering housing crisis. And “one-off” loan-by-loan solutions can’t happen fast enough to make an impact on the fragile housing stock that balances at a tipping point in cities across the country.

Steve Jobs, the visionary leader of Apple computer who died last October probably never gave much thought to the REO business. Use of his creations, however, have become pervasive worldwide in the business and entertainment industries. iPhones, iPads and Mac computers are everywhere.

In a recent ruling, the 6th Circuit Court of Appeals determined that mortgage servicers have the right to protect and maintain their collateral interest in defaulted and foreclosed properties prior to the property going to sale—validating the work field service companies perform.

In an effort to reduce foreclosure rates among military families, Hope Now facilitated an event that brought together mortgage financiers and stakeholders with the focus being on prevention of foreclosure for military families.

The Servicemembers Civil Relief Act was introduced in 2003 as a way to protect active military personnel from certain civil actions. To comply with SCRA, servicers rely on field service companies to provide additional assistance through borrower outreach.

Mortgage loan rates continue to hit record lows not seen for nearly 60 years, but tight credit has made obtaining a home loan more difficult than ever. Meanwhile, gas prices now average nearly $4.00 per gallon, and industry experts predict $5.00 per gallon gas by Memorial Day. All this against a backdrop of the Dow Industrial Average, which is flirting with the 'magic' 13,000 number.

Field service companies must continuously evolve their best practices to develop and maintain the most effective vendor network possible. Key areas of focus are: recruitment, training, diversity and technology.

Break out the bubbly! The Bureau of Labor Statistics has reported that the unemployment rate in the U.S. dropped from 8.5% to 8.3%. According to BLS numbers, U.S. non-farm payrolls grew by 243,000 jobs in January, up from a revised 203,000 jobs in December 2011.

The number of words written about the REO industry in 2011 makes 'War and Peace' seem like a Reader's Digest short story. So what's new for 2012? Good question ... tough answer.