Work with Lenders and their REOs & BPOs
October 17, 2013
FREE! 4 Hours CE
Habitat for Humanity of Greater Memphis,TN
Plus Fannie Mae and Freddie Mac now allows for distressed homeowners with more than a 55% total debt-to-income to convey their property back to the lender by deed-in-lieu foreclosure; resulting in more REO property inventory.
Now that the 2008 $25 billion foreclosure settlement against Ally Financial (formally GMAC), Bank of America, Citigroup, JP Morgan Chase and Wells Fargo has been satisfied ...it is back to business as usual regarding property foreclosure.
For the past three years investors have been swarming over the hardest-hit housing markets, buying distressed properties in bulk and pushing prices higher by double digits.
The ideal for these investors was not to buy and flip, but to hold and rent. Now many of these investors say that they have priced themselves out of the market....therefore leaving the REO-Rent market.
In June, the balance of loans 90 days or more past due or in foreclsoure were at $325 billion while $13.5 billion in loans that completed foreclosure.
Based on data from the National Association of Realtors, which showed only 15 to 20 percent of foreclosures during the downturn hit the market in 2008 and 2009. This leaves the remaining 80 to 85 percent of foreclosures as bank-owned properties.
Become the REO Specialist - It's Going to be Different This Year!
- Learn the details of REO (Real Estate Owned) assignments, the purpose of a Broker Price Opinion (BPO), and working with REO asset management.
- Let's learn how to manage and market REO property, and how to work with REO buyers.
- Examine the techniques of the top five REO sellers. Review the characteristics of REO property sold “As Is”, various seller contingencies, and the offer and closing process.
- Learn about “buy and repair” programs available for REO properties, financing products, and new laws and regulations.
- At the of the class your will receive over 300 companies to register with, helpful tools, dialogs, check list and much much more. Banks and lenders need your help.
Organize your REO business to work with various banks, lenders and their new outsourced companies. Complete the course and receive 300+ companies to register with along with helpful tools, dialogs, and checklist.Learn! Share! Discover! Mark your calendar September 10th for an information-packed day of information, ideals and resources all focused on the interest and needs of housing in Tennessee.
Cathy McDaniel, 404-550-0775, classeswithCathy@gmail.com
Sponsor: Fearnley, Martin & McDonald
When & Where
Cathy McDaniel is the author of "A Road Map To Saving Your Home" which is available at the National Association of REALTORS bookshelf. Being in the real estate and mortgage industry since 1993 she opened "My CE Class, LLC" in 2007, a real estate school approved by the Georgia and South Carolina Real Estate Commission. Cathy has conducted over 800 continuing education courses, authored over 75 training manuals and has met and trained more than 50,000 real estate professionals throughout 23 states over the last seven years. She is licensed as a continuing education instructor at many real estate boards and associations across the country.
Cathy is recognized as an industry expert in homeownership and received the 2008 Educator of the Year from GREEA, Georgia Real Estate Educators Association. Today she serves as the Education Director for Georgia Realty School a division of Virtual Properties Realty, Qualifying Broker for Owners 1st Property Management Company, and has a partnership with HomeBridge Financial and Crown Communities and many others which allows her to offer free classes and community events.
Visit: www.classeswithcathymcdaniel.com for course descriptions, dates and locations.
To predict the future you must create it ...Cathy McDaniel
Cathy's Motto: "Autograph Your Work With Excellence!"