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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. HW: What are the risk management challenges for REO assets?

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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. In addition to strengthening fair housing guidance for its vendors, Fannie Mae is increasing inspections of properties in majority minority areas, and “retooling” its quality control methodology.

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A Comprehensive Guide to Finding the Best Foreclosures in Your Area

Realty Biz

Real estate agents specializing in foreclosures can also provide you with listings and valuable insights. Types of Foreclosures There are three main types of foreclosures: pre-foreclosures, auctions, and real estate-owned (REO) properties. Inspect the Property: Always inspect a foreclosure before purchasing.

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Safety Tips for Appraising REO Properties

McKissock

If a mortgage lender acquires the title to a property as the result of a foreclosure, the property is called an “REO” property, which is short for “Real Estate Owned.” However, inspecting these types of properties can be dangerous. It is a good idea to take another person along when inspecting REO properties.

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What Is an REO Property, and How to Buy One?

Point2Homes

Real estate-owned (REO) properties, also known as bank-owned, are properties that have not sold at a foreclosure auction , and as a result, they are owned by the foreclosing bank. The main appeal of real estate-owned properties is that they can be a better deal than buying from a private owner.

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How Do I Find an REO Buyer’s Agent Who Knows Bank-Owned Home Sales?

HomeLight

But then, it went into foreclosure and didn’t sell at auction, so now it’s listed as an REO, or real estate-owned property. A “real estate owned,” or REO, home is one that’s owned by a bank. Buying a bank-owned home isn’t the same as buying a house from a private homeowner. What’s an REO home?

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What Are the Pros and Cons of Buying a Bank-Owned Home?

HomeLight

You will also have to expect a drawn-out process and condition issues, and you’ll have to button up your insurance and inspection processes. Here, we break down the major pros and cons of buying a bank-owned property to demystify the process and prepare potential buyers. What is a bank-owned home? Let’s start with the basics.

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