Soylent Green Is People_IHB
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Our servicing department sent out a global email to the troops saying that their focus has turned from REO to Short Sale structuring as a way to mitigate losses. I'm guessing that other servicers are doing the same.
The Treasury is now doling $$ incentives for SS completion to servicers and discouraging (by talk mostly) banks from taking the foreclosure route. With mods rising and SS's being the norm, this may mean a slow end to REO's in the numbers we've seen this year.
SS's will rise but a coming wave of REO's? I'm having second thoughts. What are yours?
Soylent Green Is People
The Treasury is now doling $$ incentives for SS completion to servicers and discouraging (by talk mostly) banks from taking the foreclosure route. With mods rising and SS's being the norm, this may mean a slow end to REO's in the numbers we've seen this year.
SS's will rise but a coming wave of REO's? I'm having second thoughts. What are yours?
Soylent Green Is People