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The current REO market requires an expansion of services for business growth

Housing Wire

Tiffany Fletcher: Real Estate Owned (REO), acquired by lenders , banks, or financial institutions typically due to mortgage loan defaults, involves the strategic marketing and sale of existing properties to mitigate losses on outstanding loans. Demand for existing homes — including REO assets — outpaces the available supply.

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FHA publishes final rule on the 40-year loan modification

Housing Wire

Department of Housing and Urban Development ( HUD ) added that it would reduce losses to the FHA’s Mutual Mortgage Insurance (MMI) Fund, as fewer properties would be sold out of the FHA’s real estate owned inventory or at a loss due to foreclosure. The rule is slated to go into effect on May 8.

Loans 370
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FHA adds 40-year loan term to COVID-19 arsenal

Housing Wire

In addition to benefitting borrowers, the HUD hopes the rule would reduce losses to FHA’s Mutual Mortgage Insurance Fund as fewer properties would be sold at a loss in foreclosure or out of FHA’s real estate owned inventory. Comments from the mortgage industry are due by May 31.

Loans 485
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GSEs completed nearly 60,000 foreclosure prevention actions in Q1 2023: FHFA

Housing Wire

Real-estate owned (REO) inventory also increased by 2% over the course of Q1 to 11,190 units. This is according to the Federal Housing Finance Agency (FHFA) Q1 2023 Foreclosure Prevention and Refinance Report, which was published late last week. The serious delinquency rate also decreased to 0.6%

VA loan 370
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Q4 Update: Delinquencies, Foreclosures and REO

Calculated Risk Real Estate

REO (Real Estate Owned) is the amount of real estate owned by lenders. I’ve argued repeatedly that we would NOT see a surge in foreclosures that would significantly impact house prices (as happened following the housing bubble). year over year, representing a collective gain of $1.3 Currently 22.6%

Equity 68
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Fannie Mae pays $53M to settle recession-era discrimination suit

Housing Wire

After the housing crisis, the GSE’s portfolio of foreclosed, or “Real Estate Owned” properties ballooned. It alleged the government-sponsored enterprise didn’t maintain foreclosed properties in communities of color as well as it did in white neighborhoods. “I Instead, investors bought the run-down properties in bulk sales.

Equity 381
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Q3 Update: Delinquencies, Foreclosures and REO

Calculated Risk Real Estate

REO (Real Estate Owned) is the amount of real estate owned by lenders. In 2021, I pointed out that with the end of the foreclosure moratoriums, combined with the expiration of a large number of forbearance plans, we would see an increase in REOs in late 2022 and into 2023. And there was a slight increase.

Equity 112