Droning on - 09/18/07 09:53 PM
I am little hesitant to drone on about the convention but I had so many responses I will share a bit more of what I heard.
As I wrote before, the main players have been caught off guard particularly in California. Apparently not one broker in CA had been making a living off of REO since the mid 1990's when the last wave, fueled largely by unemployment, hit. Apparantly 50% of all housing sold then was REO. As they went to conference they did not have any data on sales issues to present in the analysis sessions, they were that unprepared.
 Here is a … (1 comments)

Foreclosure Convention in Dallas, what was said! - 09/18/07 12:06 AM
I just spent a week with the foreclosure industry and I thought I would share a bit of what I heard and learned and expand over the next few days.
Lenders really, really don't want the houses back! With that in mind they are far more open to discussing options with their borrowers than ever before. For some unknown reason this event caught them unprepared for the landslide and yet the asset managers are still not really pricing to sell.
The lenders are open to loss mitigation discussions either with their borrowers (if they will call them) or with professionals acting in the … (4 comments)

 
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Bonnie Adamson

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