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REOs, or Real Estate Owned properties are those that have been foreclosed and repurchased by a bank.
Altisource specializes in Real Estate Owned (REO) and related business activities.
REO (Real Estate Owned)
Foreclosed property, also known as Real Estate Owned (REO), has been repurchased by the bank.
Foreclosure inspections are often referred to as REO (Real Estate Owned) inspections.
Other Real Estate Owned acquired through foreclosure (OREO) decreased by $4.0 million during the period to $22.5 million.
In addition, the Arizona bank recorded $2.6 million of Other Real Estate Owned (OREO) in the second quarter.
Furthermore, third quarter results are expected to include a write-down of $800,000 on the value of a commercial warehouse that is currently the largest property held as Real Estate Owned.
These sales reduced the Company's remaining Greenbrier related loan balances to $8.1 million, with $7.1 million recorded in the Company's Other Real Estate Owned category.
Many Alt-A pools originated from late 2005 through 2007 are exhibiting higher than expected rates of delinquency, foreclosure, and REO (Real Estate Owned).
It's the nation's number one resource for the disposition of short sales, notes, mortgages and Real Estate Owned (REO) homes through a proprietary online sealed-bid auction system.
These are foreclosed properties also known as Real Estate Owned (REO), which means they have been repossessed by the lenders and the homeowners have vacated the homes.
During the Second Quarter 2008 the Bank foreclosed upon the collateral which became part of the Bank's OREO (Other Real Estate Owned).
During the fourth quarter of 2010, two Greenbrier properties held in Other Real Estate Owned sold at values that approximated the Company's recorded values in such properties.
Clear Capital broke their list down taking into account major economic factors like unemployment rates, foreclosure rates and the size of Real Estate Owned (A.K.A. bank-owned) inventory.
Noninterest income consists primarily of service charge income, gains or losses from investment security transactions and income from Other Real Estate Owned ("OREO").
Columbia also has an OREO (Other Real Estate Owned) Committee which is concentrating on marketing current and future OREO assets in a very structured manner.
But when it comes to Real Estate Owned (REO) property, some reckon the federal share of so-called shadow housing inventory (foreclosed properties) looks set to surpass the private sector’s too.
REO's (Real Estate Owned) are bank-owned properties, or, in this case, properties owned by the GSE's and the FHA.
The team is actually expecting the Real Estate Owned (REO) asset disposal plan to come too late into 2012 and be too small to make a difference, at least for this year anyway.
"We got them from REO, which is Real Estate Owned, in Denver, a marketing company used by the Prudential Mortgage Company in Maryland," Mrs. Ruiz said.
"At the end of the first quarter, non-performing assets were comprised primarily of $4.5 million in loans on non-accrual status and $7.3 million of Other Real Estate Owned (OREO) properties.
This loan was reclassified as Real estate held-for-sale (also referred to as Real Estate Owned) as of December 31, 2008 and a $2.0 million impairment was recorded to reflect the property at fair value.
Many 'scratch and dent' pools, including 'hard money' pools, originated since 2004 are exhibiting higher than expected rates of delinquency, foreclosure, and REO (Real Estate Owned, or properties owned by lenders following foreclosure).
Also negatively impacting fourth quarter results was an additional impairment charge taken on a standby letter of credit in the amount of $2.0 million and valuation write-downs on Other Real Estate Owned properties of $2.0 million.
