TITLE

Bulk Sales Don't Loom So Large Any More

AUTHOR(S)
Cornwell, Ted
PUB. DATE
February 2013
SOURCE
National Mortgage News;2/18/2013, Vol. 37 Issue 7, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on impact of bulk sale of real estate owned (REO), class of property owned by a lender, in reducing the burden of foreclosed backlog on mortgage industry in the U.S. It mentions that Fannie Mae and the company Freddie Mac has launched three pilot projects to sell real REO bulk which has accounted for 2,000 properties. It informs that improving home sales market and bulk sale may help banks to reduce its REO burden.
ACCESSION #
85771707

 

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