Bank Owned

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Commercial Lenders Report More Default

Most of the first quarter thrift reports are in from Massachusetts’ commercial lenders. In my last Non-Accrual and REO report for these lenders I reported that across the board lenders were reporting more non-accrual and OREO. You can check that post if you need a definition for non-accrual, OREO is the property that a lender [...]

1May2008 | Brecht Palombo | 0 comments | Continued
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Another Bank Owned Property Auction Comes to Town

Hudson and Marshall is a well known REO ballroom sale type of auction company. They are advertising an REO property auction in the Boston area but they’re not yet posting any property details. Hudson and Marshall is a well known firm with some rather large bank clients. As I find out more info I’ll post [...]

21Apr2008 | Brecht Palombo | 0 comments | Continued
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Baystate Foreclosures Accelerate; Opportunities Follow

Foreclosuresmass.com is reporting 7512 new foreclosures initiated in the last 60 days. Thats 125 foreclosures per day every day. If you pull the weekends out… well you can do the math.
The vast majority of these properties will end up as “REO” or “bank owned” properties. A quick count of the multifamily properties on the [...]

13Apr2008 | Brecht Palombo | 0 comments | Continued
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