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This Ã¢â¬Å”performing assetÃ¢â¬Â is often an equity interest in the entity acquiring the OREO or a trade for a large volume of loans such as. collateral acquired through or in lieu of foreclosure.
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As of the end of February, foreclosure inventory levels stand at more than 30 times monthly foreclosure sales volume, indicating this backlog will continue for quite some time. Ultimately, these foreclosures will most likely reenter the market as real estate-owned (REO) properties, putting even more downward pressure on U.S. home values.
The Office of the Comptroller of the Currency, Federal Reserve, and the Office of Thrift Supervision announced formal enforcement actions Wednesday against 14 mortgage servicers and two firms that.
Southern Belle Giving the mortgage companies hell in court-No Foreclosure here!! Depending on your point of view, the story of Patsy Campbell is hilarious or frightening. This 71-year-old Florida retiree has kept lenders and lawyers at bay for 25 years while she got her case thrown out of court time and again for the smallest legal missteps.
LPS Data Shows Long Delays in Foreclosure Process. there is an enormous backlog of foreclosures in the pipeline that may be as great as 30 times the monthly sales volume of already foreclosed.
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