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• Top Liquidation Techniques

  Managing REO | September 8

  One third-party vendor is seeing more of its mortgage lender and servicer clients negotiate cash for keys in order to reduce timeframes and loss severity for managing REO assets.

• CO Man Barred From Providing Foreclosure Relief Services

  Managing REO | September 8 | Free with Registration

  A Jefferson County District Court judge in Colorado has barred Sherron L. Lewis, Jr. from providing consumers with foreclosure-relief services.

• Translations Required in California

  Managing REO | September 1 | Free with Registration

  In California, foreign language translation requirements have been added for essentially all lenders other than federally chartered banks, credit unions, savings banks or thrifts, which are expressly exempt.

• Servicers Increase Use of Short Sale Strategy

  Managing REO | September 1 | Free with Registration

  One third-party vendor is seeing more of its mortgage servicer clients use short sales as a strategy to reduce timeframes and loss severity for managing homes in default. In fact, many client buyers are also using this remedy in terms of doing their due diligence when buying distressed assets in bulk sales.

• CMBS Deals Few, and Innovatively Structured to Lure Investors

  Managing REO | September 1

  Commercial mortgage securities issuance is still far below 2007 levels—five bonds pooling commercial property loans have come to market in the past six months—and the deals are dramatically different from those assembled before the credit crisis.

• Foreclosure Resales Increase in California

  Managing REO | August 25 | Free with Registration

  Foreclosure resales accounted for 34.2% of the resale market in Southern California in July, up from 32.8% in June, but down from 43.4% a year ago.

• Adoption of MERS System, Push for Passage of House Bill

  Managing REO | August 25

  The city of Los Angeles joined the commonwealths of Virginia and Massachusetts, and the state of Connecticut, in accepting the MERS System as an alternative to the city’s registry of foreclosed properties and property preservation contacts for vacant properties. The city of Los Angeles joined the commonwealths of Virginia and Massachusetts, and the state of Connecticut, in accepting the MERS System as an alternative to the city’s registry of foreclosed properties and property preservation contacts for vacant properties.

• Defaults on the Decline as REOs Rise

  Managing REO | August 18

  Declines in new default notices, which were down on a year-over-year basis for the sixth straight month in July, are being offset by near-record levels of bank repossessions, and REOs continue to skyrocket compared to a year ago for the eighth straight month, according to RealtyTrac.

• Austin Airport Hotel Hole Gets Deeper After Series of Defaults

  Managing REO | August 18 | Free with Registration

  Austin Bergstrom International Airport's Hilton hotel faces a deepening financial hole in the wake of a series of defaults on $49 million of revenue bonds, according to a recent audit.

• Improving System to Maintain and Sell HUD Homes

  Managing REO | August 18

  The Department of Housing and Urban Development is awarding contracts to 23 companies to serve as asset managers and 32 other firms to serve as field service managers under the third generation of its management and marketing program, known as M&M III.

Blog of the Week

• Obama's Mortgage Gift to All Consumers

  What We're Hearing | September 3

  THE BIG PICTURE: In the eyes of most of the business community President Obama can do no right. At least that's the way I view it. Perhaps I should stop talking to mortgage professionals and watching CNBC. The new unemployment numbers came out Friday and depending on which spinmeister you speak to, it was better than expected or a disappointment.