shortsalecertified: DataQuick, RentRange Partnership Offers REO-to-Rental Intelligence - 12/07/12 11:23 PM
DataQuick, RentRange Partnership Offers REO-to-Rental Intelligence
 
By Evan Nemeroff
As homeownership rates remain flat and rental units continue to increase in popularity among consumers, more firms are starting to focus their business strategies toward the rental market.

According to data from the Census Bureau, third quarter owner-occupied housing inventory declined from a year ago by 175,000. However, inventory for renters was up more than 1.3 million units from the third quarter last year through the end of October.
Because of the increased demand for rental properties, DataQuick and RentRange have partnered to offer REO-to-rental valuation intelligence to lenders, … (0 comments)

shortsalecertified: REO to Rental, FHFA Reveals 3rd Winner for REO Initiative, C.A.R. Voices Disapproval - 11/07/12 09:55 AM
 
FHFA Reveals 3rd Winner for REO Initiative, C.A.R. Voices Disapproval 
By: Esther Cho
The Federal Housing Finance Agency (FHFA) announced a third bidder scooped up properties in three states for the agency’s REO-to-rental initiative, leaving Atlanta as the sole metro in the program with no winning bidder.

Colony Capital, LLC purchased 970 properties in Los Angeles and Riverside, California; Phoenix, Arizona; and Las Vegas, Nevada, the agency revealed Thursday. Colony Capital is a private real estate investment firm based in California.
The agency’s REO initiative seeks to sell Fannie Mae foreclosures to institutional investors in hard-hit … (3 comments)

shortsalecertified: FREE: "Homeowners Interview Checklist" for Successful Short Sale Transactions - 11/03/12 02:41 PM
 
Have you ever had a Short Sales Transaction that did not close?! Did you waste your time as a Real Estate Professional because the homeowners did not disclose the facts about their property, their hardship or their true financial situation?  DO NOT WASTE YOUR TIME, as time is money! Use this "Homeowners Interview Checklist", as a tool to increase your INCOME! Eliminate sellers who waste your time and money causing unsuccessful transactions.
Email me @ REOInstituteColorado@gmail.com, I will send the "Homeowners Interview Checklist" for FREE!
 
 Email me @ REOInstituteColorado@gmail.com, I will send the "Homeowners Interview Checklist" for FREE!
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shortsalecertified: Special Series: Industry Weighs in on the Shadow Inventory Debate - 11/02/12 09:51 AM
 
 
Special Series: Industry Weighs in on the Shadow Inventory Debate
11/01/2012 By: Andy Beth Miller
 
After raising the question of how the election might impact the housing market’s shadow inventory, it was obvious to see we had touched on a key issue near and dear to many voters’ hearts, minds, and wallets. Responses to the initial installment of our special election series poured in, and while we can only share some of the reactions here, we’d like to thank all of you who took the time to put your perspectives into words and join in the … (0 comments)

shortsalecertified: “BROKER PRICE OPINION”, (True Story), value what you see, not what you are assigned?! - 10/28/12 12:05 PM
“BROKER PRICE OPINION”, value what you see, not what you are assigned?!
Written by: James A Browning MRE
Andy received a phone call from Outside values (BPO Company) asking him if he could value a housing development that went into foreclosure.

Andy had 17 years of Commercial experience valuing many types of commercial assets and a preferred Broker with Outside Values. The development had strong sales with single family homes. The development (Cougar Homes) built 200+ houses and then encountered financial difficulties, than went into foreclosure. The development had numerous finished lots that the builder did not dig foundations for … (22 comments)

shortsalecertified: REOMAC Commercial Dinner @ “The Jonathan Club” in LA, Nov. 1st 2012. - 10/26/12 04:32 PM
 
REOMAC Commercial Dinner @ “The Jonathan Club” in LA, Nov. 1st 2012. Meet the Movers and Shakers of Commercial Real Estate in the Mortgage Industry!
Meeting Information
Date:November 1, 2012
Time:Registration Opens: 4:30 pm
Cocktail Reception: 5:00 pm
Dinner: 6:00 pm
Dr. Adibi: 7:00 pm (no seating after 7:00 pm)
Location:The Jonathan Club
545 S. Figueroa Street
Los Angeles, CA 90071
Cost: Commercial Luncheon:
REOMAC® Members. . . . . . . . . . . . . $75
Non-Members. . . . . . . . . . . . . . . . . . $95
Commercial_Meeting_Flyer_-_November_1,_2012.pdf
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shortsalecertified: ShortSaleCertified® Topic CitiMortgage to Launch Home Rental Program as Foreclosure Alternative - 10/23/12 11:22 PM
CitiMortgage to Launch Home Rental Program as Foreclosure Alternative
By: Tory Barringer
CitiMortgage announced the launch of the Home Rental Program, a program designed to provide an alternative to foreclosure and allow eligible borrowers to stay in their homes.
 
The Home Rental Program will be managed by Carrington Capital Management, LLC and Carrington Mortgage Services, LLC. CitiMortgage and Carrington developed the program as a pilot.
Under the program, the eligible borrower transfers ownership of the property to a vehicle established by Carrington Capital and its joint venture partner, Oaktree Capital Management, L.P. A lease will then be established for … (0 comments)

shortsalecertified: REOMAC Presents: Commercial Webinar Valuation/BOV of Multi-Family Assets - 09/15/12 01:47 PM
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shortsalecertified: Actor Tommy "Tiny" Lister Pleads Guilty to Mortgage Fraud - 09/10/12 08:16 PM
ACTOR TOMMY LISTER CHARGED WITH MORTGAGE FRAUD AND AGREES TO PLEAD GUILTY
By Herman Thordsen  
 
On Aug 31, Tommy Lister, an actor who has appeared in approximately 100 movies, was charged in federal court with conspiring to commit mortgage fraud in a scheme that led to $3.8 million in losses. Lister, who is also known as “Tiny” and “Zeus,” was charged in a criminal information with one count of conspiracy.

A second person involved in the scheme—Arcelia Chavez, a self-employed certified tax preparer—was also charged with conspiracy.
Both Lister and Chavez agreed to plead guilty to the conspiracy … (3 comments)

shortsalecertified: REO Saturation Rate Falls for First Time in 2012: Clear Capital, REO Institute Topic - 09/07/12 10:37 PM
REO Saturation Rate Falls for First Time in 2012: Clear Capital
By: Esther Cho
While home prices remained little changed, the REO saturation rate fell for the first time this year, according to Clear Capital’s Home Data Index Market report, which included data to the end of August.

The REO saturation rate, which calculates the portion of REO sales relative to total sales, slipped 6.4 percentage points from the previous quarter to 20.5 percent. The drop is the lowest the REO saturation rate has been since April 2008. At its peak, the REO saturation rate was 40.2 percent in … (0 comments)

shortsalecertified: BPO REO Simplified How To Work With Asset Managers Book Release - 09/02/12 07:17 PM
BPO REO Simplified This book provides a thorough understanding of the complex procedures, guidelines, timeframes, and tasks the Outsourcers, Banks and Lenders demand in today’s REO (Real Estate Owned), or Bank Owned Distressed Market.

And here is the link to the book ($10.95) itself http://www.buybooksontheweb.com/product.aspx?ISBN=0-7414-6493-4
Here is the eBook ($6.95) listed on Amazon: http://www.amazon.com/BPO-REO-Simplified-Managers-ebook/dp/B0076S53AG/ref=sr_1_2?ie=UTF8&qid=1338324483&sr=8-2
by:

ISBN: 0-7414-6493-4 ©2011Price: $10.95 Book Size: 8.5" x 11" , 60 pagesCategory/Subject: BUSINESS & ECONOMICS / Real Estate
This book provides a thorough understanding of the complex procedures, guidelines, timeframes, and tasks the Outsourcers, Banks and Lenders demand in today’s REO (Real Estate … (0 comments)

shortsalecertified: VIRGINIA DEVELOPER AND RESTAURATEUR PLEADS GUILTY TO, REO Institutes Topic - 08/27/12 01:02 PM
 
VIRGINIA DEVELOPER AND RESTAURATEUR PLEADS GUILTY TO
MASSIVE BANK FRAUD
 
WASHINGTON, DC - Thomas E. Arney, 56, of Chesapeake, Va., pled guilty on Friday to engaging in a massive bank fraud scheme that contributed to the failure of the Bank of the Commonwealth.
 
Christy L. Romero, Special Inspector General for the Troubled Asset Relief Program (SIGTARP); Neil H. MacBride, United States Attorney for the Eastern District of Virginia; John Boles, Special Agent in Charge of the FBI's Norfolk Field Office; Rick A. Raven, Special Agent in Charge of the Internal Revenue Service Criminal Investigation's Washington, D.C., Field … (0 comments)

shortsalecertified: California Department of Real Estate Steps Up Disciplinary Actions - 08/19/12 01:58 PM
California Department of Real Estate Steps Up Disciplinary Actions
By Evan Nemeroff
The California State Department of Real Estate cracked down on the amount of illegal mortgage activity taking place throughout the state over the last fiscal year by setting record highs in several categories.

Through the end of June 2012, the DRE suspended, surrendered and revoked a record 1,109 real estate licenses for the fiscal year within the Golden State.
According to the DRE, 781 real estate licenses were revoked FY 2011-12, which was up about 14% from the previous year when 686 licenses were taken away.
Meanwhile, … (2 comments)

shortsalecertified: Clear Capital Reports Rising Prices Across All Regions - 08/17/12 10:38 PM
 
Clear Capital Reports Rising Prices Across All Regions
By: Esther Cho  
National home prices saw both quarterly and yearly gains in June, and all four regions across the U.S. posted quarterly increases, according to the Home Data Index (HDI) released by Clear Capital Tuesday.
prices rose by 1.7 percent in June from the previous quarter and a year ago, and growth is expected to continue into the second half of the year at a rate of 2.5 percent, Clear Capital reported.

Broad-based regional gains and expanding progress are reasons for the current gains and expected future growth.
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shortsalecertified: REO Institutes Topic HomeValueForecast.com Releases Negative Equity Data - 08/11/12 10:56 PM
HomeValueForecast.com Releases Negative Equity Data
By: Sara Ortega
Negative equity in eight counties in New York and California has risen significantly since 2005 according to HomeValueForcast.com’s July Lessons from Data.

The counties analyzed were Suffolk, Nassau, Ulster and Westchester in New York; and, Merced, Riverside, San Bernardino and San Joaquin in California. According to the report, the authors concluded that negative equity was below 5 percent for all eight counties in 2005 but then began to rise rapidly, especially in the four California counties.
“The exact amount of negative equity that leads a borrower to ‘walk away’ or … (2 comments)

shortsalecertified: I passed the final examination to become a CDEI™ - 08/06/12 02:34 PM
 
Certified Distance Education Instructor
Certified Distance Education Instructor  I passed the final examination to become a CDEI™, the required standard for all instructors associated with ARELLO® Certified courses. This had to be one of hardest exams that I ever attempted. But, well worth it. James
 
 
If you like this post, please like us on activerain, facebook. Thanks, James
(3 comments)

shortsalecertified: ATTN: Short Sale Professionals - 08/01/12 10:50 PM
ATTN: Short Sale Professionals The ‘REO Institute’ is conducting a study on Short Sale Transaction experience by Real Estate Professionals. We ask that you share with us the “MOST” difficult transactions that you have experienced with a Bank/Lender/Outsourcer. We would like to have the opportunity to share some of your stories in a book to be published and as sample Cases Studies for a course that is under development. We ask that you be professional and creative in your story telling experience! The selected stories will be featured in the Short Sales Book published by Infinity Press in mid-2013. Please submit … (0 comments)

shortsalecertified: After Failed Sell-Off, MGIC to Shut Down eMagic, Myers - 07/31/12 07:42 PM
After Failed Sell-Off, MGIC to Shut Down eMagic, Myers
Attempts by Mortgage Guaranty Insurance Corp. to sell off its eMagic and Myers Internet units have failed and the mortgage insurer will shut down the pair of technology providers on Sept. 1.

The move comes as the beleaguered MI company looks to consolidate resources and focus on its core business. Milwaukee-based MGIC is still the largest MI provider in terms of existing insurance, called policies-in-force, but has ceded the top spot in new insurance written to competitors Radian and United Guaranty.
The eMagic platform connects lenders with third-party origination services, while … (0 comments)

shortsalecertified: Attn: FL Real Estate Professionals REOCertified® How To Receive REO Listings! Increase your Income - 07/31/12 08:09 AM
REOCertified® HOW TO RECEIVE REO LISTINGS! Increase your Income! Learning Best Practices for REOs & BPOs!  REOcertified® National Designation is being conducted in Tamarac 8-27, Lantana 8-28, Miami 8-30, @ Gold Coast School locations. Increase you INCOME, learn BPOs & REOs. Join us for this exciting and educational event. Presented by REO Institute in partnership with Gold Coast Real Estate School: with 7 Continuing Education hours towards your license renewal. Cost $139 for the day.

The course is @ Gold Coast Schools locations , and is open invitation to all Real Estate Professionals!
Registration & Information @
http://www.cvent.com/d/5cqpw5
Testimonials @ http://youtu.be/P9waRtut46o
Income = BPO & REO … (0 comments)

shortsalecertified: OPERATORS OF CALIFORNIA-BASED MORTGAGE MODIFICATION SCAM SENTENCED - 07/23/12 04:18 PM
 
OPERATORS OF CALIFORNIA-BASED MORTGAGE MODIFICATION SCAM
SENTENCED FOR CONSPIRACY TO COMMIT FRAUD
 

 
 
WASHINGTON, DC - The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) and the United States Attorney for the Southern District of California Laura E. Duffy today announced that three individuals charged with conspiracy to commit wire fraud and mail fraud for their roles in operating a mortgage loan modification scam were sentenced Friday in federal court in San Diego.
 
United States District Court Judge Anthony J. Battaglia sentenced Ziad Nabil Mohammed Al Saffar to serve 21 months … (0 comments)