REO

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).

Safe and Green Development Corp To Roll Out Xene Platform March 27th, 2024

Retrieved on: 
Thursday, February 22, 2024
Rita of Armenia, REO, Software, Acquisition, Real estate, SGD, SAAS

MIAMI, Fla, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Safe and Green Development Corporation (NASDAQ: SGD), also known as SG Devco, is pleased to announce the expedited development and imminent launch of the Xene Home platform, following the acquisition of Majestic World Holdings on February 8th, 2024.

Key Points: 
  • MIAMI, Fla, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Safe and Green Development Corporation (NASDAQ: SGD), also known as SG Devco, is pleased to announce the expedited development and imminent launch of the Xene Home platform, following the acquisition of Majestic World Holdings on February 8th, 2024.
  • Xene Home, set to be fully operational by March 27th, is designed to significantly enhance the buying, selling, and investing experience in real estate.
  • The platform will initially offer comprehensive services to institutions managing REO (Real Estate Owned) Default Portfolios.
  • The platform is expected to provide such institutions access to an extensive network of property preservation experts and eviction attorneys.

Great Ajax Corp. Announces Results for the Quarter Ended December 31, 2023

Retrieved on: 
Tuesday, February 27, 2024
Professional Services, Residential Building & Real Estate, Commercial Building & Real Estate, Finance, Construction & Property, Asset Management, REIT, Acquisition, Operating cost, Investment, CECL, Sale, AFS, GAAP, AOCI, REO, HTM, Appendix, Bank

Our net interest income for the quarter ended December 31, 2023, excluding any adjustment for expected credit losses was $3.2 million, a decrease of $0.1 million over the prior quarter.

Key Points: 
  • Our net interest income for the quarter ended December 31, 2023, excluding any adjustment for expected credit losses was $3.2 million, a decrease of $0.1 million over the prior quarter.
  • Our interest expense for the quarter ended December 31, 2023 decreased $0.4 million compared to the prior quarter primarily as a result of a decrease in our average balance of interest bearing debt.
  • For the quarter ended December 31, 2023, we recorded $0.8 million in amortization compared to $0.9 million for the quarter ended September 30, 2023.
  • We ended the quarter with a GAAP book value of $9.99 per common share, compared to a book value per common share of $11.07 for the quarter ended September 30, 2023.

MFA Financial, Inc. Announces Fourth Quarter and Full Year 2023 Financial Results

Retrieved on: 
Thursday, February 22, 2024
Residential Building & Real Estate, Construction & Property, Professional Services, Finance, Internet, MFA, Risk management, Transition, MBS, Agency, GAAP, UPB, Eastern Time Zone, REO, SFR, Textile

MFA Financial, Inc. (NYSE:MFA) today provided its financial results for the fourth quarter and full year ended December 31, 2023.

Key Points: 
  • MFA Financial, Inc. (NYSE:MFA) today provided its financial results for the fourth quarter and full year ended December 31, 2023.
  • Fourth Quarter 2023 Financial Results:
    MFA generated GAAP net income for the fourth quarter of $81.5 million, or $0.80 per basic and $0.76 per diluted common share.
  • MFA estimates the net effective duration of its investment portfolio at December 31, 2023 declined to 0.91 from 1.05 at September 30, 2023.
  • MFA Financial, Inc. plans to host a live audio webcast of its investor conference call on Thursday, February 22, 2024, at 11:00 a.m. (Eastern Time) to discuss its fourth quarter 2023 financial results.

BOMI Launches Three New Property and Facility Management Course Updates

Retrieved on: 
Thursday, March 7, 2024
HVAC, Acquisition, City, Asset management, Property management, BOMA, MBA, Learning, CPVC, Safety, SME, REO, Insurance, Education

ANNAPOLIS, Md., March 7, 2024 /PRNewswire-PRWeb/ -- Building Owners and Managers Institute (BOMI), the premiere organization for property and facility management workforce development, is excited to launch three new course updates. Each coursebook now concludes with actionable steps, helping you implement what you've learned. These courses are part of the property and facility management designations offered by BOMI. In addition to the digital and print coursebook updates, we've introduced new microlessons, practice quizzes, knowledge checks, interactive infographics, and instructor resources for each course.

Key Points: 
  • Newly Revised: Asset Management & Design, Operation, and Maintenance of Building Systems, Part I and II
    ANNAPOLIS, Md., March 7, 2024 /PRNewswire-PRWeb/ -- Building Owners and Managers Institute (BOMI), the premiere organization for property and facility management workforce development, is excited to launch three new course updates.
  • These courses are part of the property and facility management designations offered by BOMI.
  • In addition to the digital and print coursebook updates, we've introduced new microlessons, practice quizzes, knowledge checks, interactive infographics, and instructor resources for each course.
  • The revised edition of Asset Management addresses the needs of contemporary property management professionals who often function as asset managers or collaborate closely with them.

Miami-Dade County Total Home Sales, Total Dollar Volume Rise

Retrieved on: 
Thursday, February 22, 2024
Total, MLS, Partnership, News, Sale, Multiple listing service, Fed, Human back, Freddie Mac, NAR, REO, Statistics, State, Housing, Property management

MIAMI, Feb. 22, 2024 /PRNewswire-PRWeb/ -- Miami-Dade County total home sales and total dollar volume rose year-over-year as South Florida real estate continues to outpace the nation even as mortgage rates return to the 7% range, according to January 2024 statistics released by the MIAMI Association of Realtors (MIAMI) and the Multiple Listing Service (MLS) system.

Key Points: 
  • Miami-Dade total home sales increased 0.9% and total dollar volume jumped 19% year-over-year in January 2024.
  • The statistics would be much stronger if they included South Florida's robust developer new construction market and volume.
  • Miami total new listings increased 21.7% year-over-year in January 2024, from 3,257 to 3,963.
  • Miami total dollar volume totaled $1.3 billion in January 2024.

SPECIAL REPORT: U.S. COMMERCIAL FORECLOSURES INCREASE IN JANUARY 2024

Retrieved on: 
Thursday, February 22, 2024
Foreclosure, NFS, COVID-19, NOD, REO, Real estate owned, LIS, NTS

IRVINE, Calif., Feb. 22, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released a special report on U.S. Commercial Foreclosures. The report reveals a significant climb in commercial foreclosures over the years, from a low of 141 in May 2020 to the current figure of 635 in January 2024. This represents a steady increase throughout the period.

Key Points: 
  • Commercial Foreclosures Increase 17 Percent from Last Month and 97 Percent from Last Year; States with the Most Commercial Foreclosures in January 2024 Included California, New York and Texas
    IRVINE, Calif., Feb. 22, 2024 /PRNewswire/ -- ATTOM , a leading curator of land, property, and real estate data , today released a special report on U.S. Commercial Foreclosures.
  • The report reveals a significant climb in commercial foreclosures over the years, from a low of 141 in May 2020 to the current figure of 635 in January 2024.
  • By January 2024, commercial foreclosures had surged to 635, a stark contrast to the 2020 low.
  • By January 2024, California had the highest number of commercial foreclosures for the month, at 181.