a Rumor?

Just heard, but no way to confirm it is accurate, let's just call "a rumor":



Banks are planning to release their REO properties which they have been holding for a long time by Jan, 2010 .



Anyone heard this kind of rumor?

[quote author="gld42" date=1258616578]Just heard, but no way to confirm it is accurate, let's just call "a rumor":



Banks are planning to release their REO properties which they have been holding for a long time by Jan, 2010 .



Anyone heard this kind of rumor?</blockquote>
I haven't heard that, but I wouldn't be surprised. Think about it this way, they won't have to report it on their 2009 financials in Q4. I think we'll see banks beginning to release some of their inventory in 2010 as they see a stable market and will have enough profit to absorb those loses on their balance sheet.

[quote author="USCTrojanCPA" date=1258617800][quote author="gld42" date=1258616578]Just heard, but no way to confirm it is accurate, let's just call "a rumor":



Banks are planning to release their REO properties which they have been holding for a long time by Jan, 2010 .



Anyone heard this kind of rumor?</blockquote>
I haven't heard that, but I wouldn't be surprised. Think about it this way, they won't have to report it on their 2009 financials in Q4. I think we'll see banks beginning to release some of their inventory in 2010 as they see a stable market and will have enough profit to absorb those loses on their balance sheet.</blockquote>


Rumor. 100% Rumor.

[quote author="RoLar_USC" date=1258617911][quote author="USCTrojanCPA" date=1258617800][quote author="gld42" date=1258616578]Just heard, but no way to confirm it is accurate, let's just call "a rumor":



Banks are planning to release their REO properties which they have been holding for a long time by Jan, 2010 .



Anyone heard this kind of rumor?</blockquote>
I haven't heard that, but I wouldn't be surprised. Think about it this way, they won't have to report it on their 2009 financials in Q4. I think we'll see banks beginning to release some of their inventory in 2010 as they see a stable market and will have enough profit to absorb those loses on their balance sheet.</blockquote>


Rumor. 100% Rumor.</blockquote>
It may be a rumor, but I am seeing that banks are postponing a higher percentage of sales during November and I would bet that continues until the beginning of the new year. As a percentage of properties up for auction, you'll begin to see the % go up around mid-Jan.

I heard the rumors that banks will encourage more short sales vs. foreclosing. And have you guys heard of allowing homeowners to rent their current homes for one year instead of kicking them out? I could be wrong but it was either fannie or freddie.



It seems like they're letting distressed homeowners rent as to keep the home from falling apart. And wouldn't it be better to do a short sale while the homeowners is keeping the house tidy? =)

<a href="http://mortgage.freedomblogging.com/2009/11/17/banks-start-foreclosure-on-2100-mortgages/21443/">Banks start foreclosure on 2100 mortgages</a>



What are your thoughts?

I also heard the rumors that major banks have increased their staffs exponentially to handle the wave of short sales. In addition, there's new governmental incentives given to banks whom do short sales vs. foreclosing. Just a rumor.

[quote author="renbac" date=1258618850]<a href="http://mortgage.freedomblogging.com/2009/11/17/banks-start-foreclosure-on-2100-mortgages/21443/">Banks start foreclosure on 2100 mortgages</a>



What are your thoughts?</blockquote>


Rumor. 100% rumor.

I think gld42 heard <a href="http://www.irvinehousingblog.com/forums/viewthread/5788/#120084">the rumor</a> that I heard in August. It's kind of like those chain emails that come around every so often.

[quote author="Sunshine" date=1258627450]I think gld42 heard <a href="http://www.irvinehousingblog.com/forums/viewthread/5788/#120084">the rumor</a> that I heard in August. It's kind of like those chain emails that come around every so often.</blockquote>
I heard a rumor that the Changers may actually have a chance at winning their division this year.

[quote author="USCTrojanCPA" date=1258627550][quote author="Sunshine" date=1258627450]I think gld42 heard <a href="http://www.irvinehousingblog.com/forums/viewthread/5788/#120084">the rumor</a> that I heard in August. It's kind of like those chain emails that come around every so often.</blockquote>
I heard a rumor that the Changers may actually have a chance at winning their division this year. </blockquote>


Thankfully, I'm a Cha<strong>r</strong>gers fan. :coolsmile:

[quote author="Sunshine" date=1258627450]I think gld42 heard <a href="http://www.irvinehousingblog.com/forums/viewthread/5788/#120084">the rumor</a> that I heard in August. It's kind of like those chain emails that come around every so often.</blockquote>


Nope, this is the 1st time I heard this kind of rumor. The person who told me also said " friend's friend's friend.... works at someplace related to FRE & FNE are busy with preparing release the REOs in 2010....... Rumor! 100% rumor! haha...

[quote author="gld42" date=1258643300][quote author="Sunshine" date=1258627450]I think gld42 heard <a href="http://www.irvinehousingblog.com/forums/viewthread/5788/#120084">the rumor</a> that I heard in August. It's kind of like those chain emails that come around every so often.</blockquote>


Nope, this is the 1st time I heard this kind of rumor. The person who told me also said " friend's friend's friend.... works at someplace related to FRE & FNE are busy with preparing release the REOs in 2010....... Rumor! 100% rumor! haha...</blockquote>


It's about a 50% rumor, only because we will have to wait and see if it comes to fruition. Like I said in the thread linked above, at least on the local SoCal portfolio level, in Q1 and Q2 the institutions have first dibs on this "release" because they have the ca$h to buy in bulk and give the banks/fannie/freddie the ca$h they need.



Fannie/Freddie have been notoriously slow in turning REOs around and they have a huge backlog to rid themselves of. Hence why they want the cash in bulk, they just need to get the sh*t off their books. Don't believe me? Do a title search by name for Fannie and see how many properties they own.



Also, Fannie has been leaking some prime portfolio deals out already. They are so desperate to get rid of them, that the discounts are truly shocking and will make an institution a very high double digit return. They don't own just conforming loan limit loans either... remember they had to compete with the big banks for the ALT-A space, and now they are paying the price.



I am 100% certain this is not 100% rumor, and anyone who says it is has no idea what they are talking about. But this is just the intarwebs, where hopes are dreams are made of...

[quote author="graphrix" date=1258646312][quote author="gld42" date=1258643300][quote author="Sunshine" date=1258627450]I think gld42 heard <a href="http://www.irvinehousingblog.com/forums/viewthread/5788/#120084">the rumor</a> that I heard in August. It's kind of like those chain emails that come around every so often.</blockquote>


Nope, this is the 1st time I heard this kind of rumor. The person who told me also said " friend's friend's friend.... works at someplace related to FRE & FNE are busy with preparing release the REOs in 2010....... Rumor! 100% rumor! haha...</blockquote>


It's about a 50% rumor, only because we will have to wait and see if it comes to fruition. Like I said in the thread linked above, at least on the local SoCal portfolio level, in Q1 and Q2 the institutions have first dibs on this "release" because they have the ca$h to buy in bulk and give the banks/fannie/freddie the ca$h they need.



Fannie/Freddie have been notoriously slow in turning REOs around and they have a huge backlog to rid themselves of. Hence why they want the cash in bulk, they just need to get the sh*t off their books. Don't believe me? Do a title search by name for Fannie and see how many properties they own.



Also, Fannie has been leaking some prime portfolio deals out already. They are so desperate to get rid of them, that the discounts are truly shocking and will make an institution a very high double digit return. They don't own just conforming loan limit loans either... remember they had to compete with the big banks for the ALT-A space, and now they are paying the price.



I am 100% certain this is not 100% rumor, and anyone who says it is has no idea what they are talking about. But this is just the intarwebs, where hopes are dreams are made of...</blockquote>
So Freddie and Fannie are selling their shadow REO inventory in bulk, but not the notes before the foreclosure process happens, is that correct? Or are they getting so desperate that they are selling the notes in the middle of the foreclosure process?

[quote author="USCTrojanCPA" date=1258648858]So Freddie and Fannie are selling their shadow REO inventory in bulk, but not the notes before the foreclosure process happens, is that correct? Or are they getting so desperate that they are selling the notes in the middle of the foreclosure process?</blockquote>


I believe it is deed in lieu of foreclosure. Some show up on FR, some don't. I do know that it is not the notes, my source doesn't buy/deal with notes.

[quote author="USCTrojanCPA" date=1258627550][quote author="Sunshine" date=1258627450]I think gld42 heard <a href="http://www.irvinehousingblog.com/forums/viewthread/5788/#120084">the rumor</a> that I heard in August. It's kind of like those chain emails that come around every so often.</blockquote>
I heard a rumor that the Changers may actually have a chance at winning their division this year. </blockquote>


Fact. 100% Fact.

They're releasing them at the quickest speed that they can. They are not holding on to them and setting a date to "open up the flood gates." Maybe they're expanding their loss mitigation department to process them faster, but no one is voluntarily holding onto property. Either way, at least we won't have to wait long until we find out if this is true or not.

[quote author="RoLar_USC" date=1258683768]They're releasing them at the quickest speed that they can. They are not holding on to them and setting a date to "open up the flood gates." Maybe they're expanding their loss mitigation department to process them faster, but no one is voluntarily holding onto property.</blockquote>
Do you know this as a fact? So people have been in there homes for months even years from the first NOD and you think there's no shenanigans going on at the banks?

[quote author="irvine_home_owner" date=1258685399][quote author="RoLar_USC" date=1258683768]They're releasing them at the quickest speed that they can. They are not holding on to them and setting a date to "open up the flood gates." Maybe they're expanding their loss mitigation department to process them faster, but no one is voluntarily holding onto property.</blockquote>
Do you know this as a fact? So people have been in there homes for months even years from the first NOD and you think there's no shenanigans going on at the banks?</blockquote>


Maybe you should explain how capital ratios work. :coolsmirk:

CapWorks where are youuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuuu?!?