Analysist using statistics (which tie into the performance of home loans for investors in mortgage backed securities)in tracking distressed homes,home loans, say they are "alarmed" by what appears to be a shadow inventory of these homes looming behind the scenes,and waiting to be released upon the market. They are saying this inventory will drive down the market. I have heard this for almost 8-9 months..just who has these homes/loans and just where are they? Our market has the same percentage of REO's that We dealt with last year...any ideas?
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Star Referral - Grand rapids MI - Grand Rapids, MI
Banks, because they are limited as to the percentage of assets that can be REO have properties "hidden" in holding companies. This trick allows them to keep lending. So I'm told.
Apr 16, 2010 06:02 AM
Crye-Leike Realtors - Marion, AR
I used to "get this" Reo/ BANK system thing before the "Fall of the House Of Ushers"..but now I am beginning to think I may be like the folks who didn't understand the hidden language of the docs tied into the Trading Market, that began downward spiral in the 90's...confusing
Apr 16, 2010 12:37 PM
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