Demand for existing homes — including REO assets — outpaces the available supply. Growing and changing is vital to expand your services and business growth so that you can tailor services in REO. Tiffany Fletcher, senior vice president of operations support and operational risk for VRM Mortgage Services, offers strategies for doing just that, showing how VRM is growing and changing during these unique times.
HW: What does the current market and demand for REO assets look like?
Tiffany Fletcher: Real Estate Owned (REO), acquired by lenders, banks, or financial institutions typically due to mortgage loan defaults, involves the strategic marketing and sale of existing properties to mitigate losses on outstanding loans. Balancing supply and demand is a delicate dance between new construction and existing properties. Factors like location and condition of the property and the market demand for REO and other existing home sales, impact the current landscape for REO assets.
Presently, the demand for existing homes outpaces the available supply, raising potential concerns for both sellers and buyers. Addressing this disparity requires a…
