REO

Michael R. Smith Joins Alliant Insurance Services as Executive Vice President of Specialty Lending Practice

Retrieved on: 
Monday, April 29, 2024
Other Professional Services, Professional Services, Insurance, Finance, Financial institution, Risk management, REO, Alliant, Smith, Risk

Michael R. Smith has joined Alliant Insurance Services as Executive Vice President, Alliant Specialty, in the firm’s Financial Institutions industry vertical.

Key Points: 
  • Michael R. Smith has joined Alliant Insurance Services as Executive Vice President, Alliant Specialty, in the firm’s Financial Institutions industry vertical.
  • Smith has extensive experience assessing the risk of companies that invest in, originate and/or service large loan portfolios.
  • Smith is a former mortgage banker with 20+ years of lending experience and 15+ years focused in the insurance industry.
  • “Michael is adept at forging dynamic, customized lender-placed insurance solutions and risk management strategies across the enterprise,” said Ron Borys, Managing Director, Alliant Specialty, within Alliant Financial Institutions.

OrangeGrid Now Enabling Mortgage Servicers to Achieve Faster ROI When Pursuing Digital Transformation

Retrieved on: 
Tuesday, April 16, 2024
Technology, Insurance, Finance, Fintech, Consulting, Banking, Other Technology, Professional Services, Software, Data Management, Multimedia, Automation, REO, ROI, Service provider, Audit

OrangeGrid, a provider of mortgage servicing software, has an entire suite of mortgage servicing workflow solutions including Collections, Bankruptcy, Foreclosure, Loss Mitigation, REO, Loss Analysis, Hazard Claims, Property Preservation & Inspections Oversight and is ready to help Mortgage Servicers with ROI modeling.

Key Points: 
  • OrangeGrid, a provider of mortgage servicing software, has an entire suite of mortgage servicing workflow solutions including Collections, Bankruptcy, Foreclosure, Loss Mitigation, REO, Loss Analysis, Hazard Claims, Property Preservation & Inspections Oversight and is ready to help Mortgage Servicers with ROI modeling.
  • OrangeGrid has started offering an advisory service that enables Mortgage Servicers to achieve a faster ROI when completing their digital transformations.
  • ROI can be measured quantitatively and qualitatively through various means including increased productivity, loss prevention, improved labor costs, technology cost reduction, and compliance savings.
  • OrangeGrid’s service consists of three parts:
    Audit of a servicer’s needs regarding a potential digital transformation;
    Analysis reviewing any costs, labor requirements and challenges and their solutions;
    Development of a roadmap to digital transformation based on the analysis.

PROFITS FOR U.S. HOME SELLERS DECLINE AGAIN IN FIRST QUARTER OF 2024 AS PRICES FALL

Retrieved on: 
Thursday, April 25, 2024
Sale, Federal Housing Administration, Report, Margin, Statistics, Housing, REO, Steam, Greeley, Colorado, Warner Robins, Georgia, FHA, Great, Arms industry

IRVINE, Calif., April 25, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its first-quarter 2024 U.S. Home Sales Report, which shows that profit margins on median-priced single-family home and condo sales in the United States decreased to 55.3 percent in the first quarter – the smallest level in more than two years.

Key Points: 
  • At the same time, investment returns for sellers decreased for the second straight quarter after several increases last year, hitting the low point since mid-2021.
  • The drop-off in prices and profits comes as a mix of powerful forces is putting both upward and downward pressure on the U.S. housing market.
  • The longest 40 average tenures among sellers in the first quarter of 2024 were again in the Northeast or West regions of the U.S.
  • Nationwide, all-cash purchases accounted for 41.1 percent of single-family home and condo sales in the first quarter of 2024.

Miami-Dade County 1Q 2024 Single-Family Home Sales Rise

Retrieved on: 
Thursday, April 18, 2024
Sale, CoreLogic, NAR, Partner, News, Statistics, Housing, Henley & Partners, MLS, REO, Partnership, Freddie Mac, Shock, Census, Condo, Fed, Growth, Drug

MIAMI, April 18, 2024 /PRNewswire-PRWeb/ -- Miami-Dade County single-family home sales increased year-over-year in 1Q 2024 as monthly transactions remain in the historically normal pre-pandemic range despite elevated mortgage rates, according to statistics released by the MIAMI Association of Realtors (MIAMI) and the Southeast Florida Multiple Listing Service (SEFMLS).

Key Points: 
  • Miami-Dade condo home sales decreased 12% year-over-year in 1Q 2024, from 3,194 to 2,811.
  • Short sales and REOs accounted for 0.1% and 0.7% year-over-year, respectively, of total Miami sales in March 2024.
  • Nationally, distressed sales represented 2% of sales in March 2024, virtually unchanged from last month and the prior year.
  • Cash sales represented 37.2% of Miami closed sales in March 2024, compared to 40.7% in March 2023.

U.S. FORECLOSURE ACTIVITY INCREASES QUARTERLY IN Q1 2024

Retrieved on: 
Thursday, April 11, 2024
Housing, REO, Bank

IRVINE, Calif., April 11, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its Q1 2024 U.S. Foreclosure Market Report, which shows a total of 95,349 U.S. properties with a foreclosure filings during the first quarter of 2024, up 3 percent from the previous quarter but down less than 1 percent from a year ago.

Key Points: 
  • A total of 67,657 U.S. properties started the foreclosure process in Q1 2024, up 2 percent from the previous quarter and up 4 percent from a year ago.
  • Those major metros with a population of 200,000 or more that had the greatest number of foreclosures starts in Q1 2024 included, New York, New York (4,404 foreclosure starts); Houston, Texas (2,977 foreclosure starts); Chicago, Illinois (2,867 foreclosure starts); Los Angeles, CA (2,398 foreclosure starts); and Miami, FL (2,319 foreclosure starts).
  • Highest foreclosure rates in Delaware, New Jersey, and South Carolina
    Nationwide one in every 1,478 housing units had a foreclosure filing in Q1 2024.
  • Properties foreclosed in Q1 2024 had been in the foreclosure process for an average of 736 days.

Bradford County, PA to Transition to Online Sheriff’s Sales

Retrieved on: 
Tuesday, March 19, 2024
REO, Database, Sale, Commonwealth, Bid4Assets, Auction

By moving online, the sheriff’s office intends to streamline the auction process and increase accessibility by allowing all participants to bid remotely.

Key Points: 
  • By moving online, the sheriff’s office intends to streamline the auction process and increase accessibility by allowing all participants to bid remotely.
  • Bid4Assets has recently hosted successful online foreclosure sales for multiple sheriff’s offices in Pennsylvania, including Montgomery, Monroe, Berks, Adams and Philadelphia Counties.
  • We’re thrilled to see Bradford County making this transition.”
    Bid4Assets was founded in 1999 and conducted the first online tax sale and the first online federal forfeiture auction in the U.S., both in 2000.
  • Bid4Assets pioneered the first online sheriff’s sale in the Commonwealth of Pennsylvania in 2020.

MCS Expands National Property Preservation Platform With Acquisition of Five Brothers Asset Management Solutions

Retrieved on: 
Wednesday, March 13, 2024
Other Construction & Property, Residential Building & Real Estate, Commercial Building & Real Estate, Construction & Property, REO, HECM, Culture, Acquisition, History, Five Brothers, Brother

MCS (or the “Company”), the national property services company founded in 1986, announced it has acquired property preservation company Five Brothers Asset Management Solutions (“Five Brothers”), bringing two of the country’s leading property preservation and maintenance services companies together.

Key Points: 
  • MCS (or the “Company”), the national property services company founded in 1986, announced it has acquired property preservation company Five Brothers Asset Management Solutions (“Five Brothers”), bringing two of the country’s leading property preservation and maintenance services companies together.
  • MCS’s acquisition of Five Brothers creates a national property preservation and services market leader that combines complimentary business offerings to serve an extensive network of clients in the mortgage services and single-family rental sectors.
  • Five Brothers will be integrated within MCS as the combined entity will offer superior property preservation, maintenance and renovation services throughout the country.
  • “With a 50-plus year history of delivering property preservation services, Five Brothers brings its own extensive track record of delivering outstanding service, solutions and technology that compliments the MCS services platform.

Motto Mortgage Planning Now Open in California

Retrieved on: 
Thursday, March 21, 2024
REO, Veterans' affairs, Knowledge, Real estate owned, FHA, Federal Housing Administration, Dream, Golden State, Motto, Real estate

SANTA CLARITA, Calif., March 21, 2024 /PRNewswire/ -- Motto Mortgage, the first-and-only national mortgage brokerage franchise brand in the United States focused on transparency and compliance, has a new office located in the Valencia neighborhood of sunny Santa Clarita, California. Motto Mortgage Planning is now open and serving all markets throughout the Golden State.

Key Points: 
  • Motto Mortgage Planning is now open and serving all markets throughout the Golden State.
  • Motto Mortgage Planning is a customer-first, full-service mortgage brokerage established by Patrick Raach.
  • "Motto Mortgage Planning offers an advantageous alternative to the traditional mortgage bankers currently operating in Santa Clarita," said Patrick Raach.
  • "I am excited to step into this role as loan originator and branch manager at Motto Mortgage Planning.

Miami-Dade Total Home Sales Rise for Second Consecutive Month

Retrieved on: 
Thursday, March 21, 2024
REO, Statistics, Partnership, Shock, NAR, Sale, News, MLS, Housing, Condo, Love, Census, CoreLogic, Multiple listing service, Freddie Mac, Property management

MIAMI, March 21, 2024 /PRNewswire-PRWeb/ -- Miami-Dade County total home sales rose year-over-year for the second consecutive month as new data shows South Florida leading the U.S. in price appreciation and international migration, according to February 2024 statistics released by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.

Key Points: 
  • Miami Distressed Sales Remain Low, Reflecting Healthy Market
    Only 0.9% of all closed residential sales in Miami were distressed last month, including REO (bank-owned properties) and short sales, lower than 0.8% in February 2023.
  • Short sales and REOs accounted for 0.06% and 0.9% year-over-year, respectively, of total Miami sales in February 2024.
  • Nationally, distressed sales represented 3% of sales in February, virtually unchanged from last month and the prior year.
  • Cash sales represented 43.3% of Miami closed sales in February 2024, compared to 43% in February 2023.

U.S. FORECLOSURE ACTIVITY CONTINUES TO SEE AN ANNUAL INCREASE

Retrieved on: 
Tuesday, March 12, 2024
REO, Database, NOD, NFS, Real estate owned, LIS, Housing, File, NTS, Foreclosure, Maid service

IRVINE, Calif., March 12, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its February 2024 U.S. Foreclosure Market Report, which shows there were a total of 32,938 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions – down 1 percent from last month but up 8 percent from a year ago.

Key Points: 
  • "The annual uptick in U.S. foreclosure activity hints at shifting dynamics within the housing market," said Rob Barber, CEO at ATTOM.
  • Highest foreclosure rates in South Carolina, Delaware, and Florida
    Nationwide, one in every 4,279 housing units had a foreclosure filing in February 2024.
  • Those states that saw the greatest number of foreclosures starts in February 2024 included: Florida (2,732 foreclosure starts); California (2,730 foreclosure starts); Texas (2,694 foreclosure starts); New York (1,289 foreclosure starts); and Ohio (1,097 foreclosure starts).
  • Among those major metropolitan statistical areas with a population of at least 200,000, those with the greatest number of foreclosure starts in February 2024, included: New York, NY (1,367 foreclosure starts); Houston, TX (998 foreclosure starts); Los Angeles, CA (808 foreclosure starts); Chicago, IL (792 foreclosure starts); and Miami, FL (777 foreclosure starts).