Real estate owned

Motto Mortgage Planning Now Open in California

Retrieved on:

Thursday, March 21, 2024

REO, Veterans' affairs, Knowledge, Real estate owned, FHA, Federal Housing Administration, Dream, Golden State, Motto, Real estate

SANTA CLARITA, Calif., March 21, 2024 /PRNewswire/ -- Motto Mortgage, the first-and-only national mortgage brokerage franchise brand in the United States focused on transparency and compliance, has a new office located in the Valencia neighborhood of sunny Santa Clarita, California. Motto Mortgage Planning is now open and serving all markets throughout the Golden State.

Key Points:

Motto Mortgage Planning is now open and serving all markets throughout the Golden State.
Motto Mortgage Planning is a customer-first, full-service mortgage brokerage established by Patrick Raach.
"Motto Mortgage Planning offers an advantageous alternative to the traditional mortgage bankers currently operating in Santa Clarita," said Patrick Raach.
"I am excited to step into this role as loan originator and branch manager at Motto Mortgage Planning.

U.S. FORECLOSURE ACTIVITY CONTINUES TO SEE AN ANNUAL INCREASE

Retrieved on:

Tuesday, March 12, 2024

REO, Database, NOD, NFS, Real estate owned, LIS, Housing, File, NTS, Foreclosure, Maid service

IRVINE, Calif., March 12, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its February 2024 U.S. Foreclosure Market Report, which shows there were a total of 32,938 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions – down 1 percent from last month but up 8 percent from a year ago.

Key Points:

"The annual uptick in U.S. foreclosure activity hints at shifting dynamics within the housing market," said Rob Barber, CEO at ATTOM.
Highest foreclosure rates in South Carolina, Delaware, and Florida
Nationwide, one in every 4,279 housing units had a foreclosure filing in February 2024.
Those states that saw the greatest number of foreclosures starts in February 2024 included: Florida (2,732 foreclosure starts); California (2,730 foreclosure starts); Texas (2,694 foreclosure starts); New York (1,289 foreclosure starts); and Ohio (1,097 foreclosure starts).
Among those major metropolitan statistical areas with a population of at least 200,000, those with the greatest number of foreclosure starts in February 2024, included: New York, NY (1,367 foreclosure starts); Houston, TX (998 foreclosure starts); Los Angeles, CA (808 foreclosure starts); Chicago, IL (792 foreclosure starts); and Miami, FL (777 foreclosure starts).

SPECIAL REPORT: U.S. COMMERCIAL FORECLOSURES INCREASE IN JANUARY 2024

Retrieved on:

Thursday, February 22, 2024

Foreclosure, NFS, COVID-19, NOD, REO, Real estate owned, LIS, NTS

IRVINE, Calif., Feb. 22, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released a special report on U.S. Commercial Foreclosures. The report reveals a significant climb in commercial foreclosures over the years, from a low of 141 in May 2020 to the current figure of 635 in January 2024. This represents a steady increase throughout the period.

Key Points:

Commercial Foreclosures Increase 17 Percent from Last Month and 97 Percent from Last Year; States with the Most Commercial Foreclosures in January 2024 Included California, New York and Texas
IRVINE, Calif., Feb. 22, 2024 /PRNewswire/ -- ATTOM , a leading curator of land, property, and real estate data , today released a special report on U.S. Commercial Foreclosures.
The report reveals a significant climb in commercial foreclosures over the years, from a low of 141 in May 2020 to the current figure of 635 in January 2024.
By January 2024, commercial foreclosures had surged to 635, a stark contrast to the 2020 low.
By January 2024, California had the highest number of commercial foreclosures for the month, at 181.

U.S. FORECLOSURE ACTIVITY SEES NOTABLE INCREASE IN JANUARY 2024

Retrieved on:

Tuesday, February 13, 2024

Foreclosure, File, Database, NFS, NOD, Real estate owned, REO, LIS, Housing, NTS, Maid service

IRVINE, Calif., Feb. 13, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its January 2024 U.S. Foreclosure Market Report, which shows there were a total of 33,270 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions – up 5 percent from a year ago, and up 10 percent from the prior month.

Key Points:

We remain vigilant in monitoring these trends to understand their full impact on foreclosure activity."
Highest foreclosure rates in Delaware, Nevada, and Indiana
Nationwide one in every 4,236 housing units had a foreclosure filing in January 2024.
Those states that saw the greatest number of foreclosures starts in January 2024 included: California (2,719 foreclosure starts); Texas (2,613 foreclosure starts); Florida (2,330 foreclosure starts); New York (1,341 foreclosure starts); and Illinois (913 foreclosure starts).
Among those major metropolitan statistical areas with a population of at least 200,000, those with the greatest number of foreclosure starts in January 2024, included: New York, NY (1,470 foreclosure starts); Houston, TX (1,015 foreclosure starts); Los Angeles, CA (817 foreclosure starts); Miami, FL (804 foreclosure starts); and Chicago, IL (763 foreclosure starts).

Freedom Financial Holdings Announces Earnings for Fourth Quarter and Full Year 2023

Retrieved on:

Friday, January 26, 2024

Pre-provision pretax income1 for the fourth quarter was $2,031,758 compared to pre-provision, pretax income of $1,730,376 in the prior quarter.

Key Points:

Pre-provision pretax income1 for the fourth quarter was $2,031,758 compared to pre-provision, pretax income of $1,730,376 in the prior quarter.
Despite the loss in the fourth quarter, tangible book value per share2 increased by 2.70% during the quarter and by 2.01% in 2023.
Non-interest-bearing demand deposits decreased by $24.15 million during the fourth quarter and comprised 15.63% of total deposits at the end of the fourth quarter.
AOCI increased during the fourth quarter of 2023 due to a decline in unrealized losses related to available-for-sale securities.

U.S. FORECLOSURE ACTIVITY INCREASES FROM 2022 BUT STILL BELOW PRE-PANDEMIC LEVELS

Retrieved on:

Thursday, January 11, 2024

NOD, Real estate owned, Database, NFS, NTS, Metro, Housing, Silver, Foreclosure, REO, File, LIS

IRVINE, Calif., Jan. 11, 2024 /PRNewswire/ -- ATTOM, a leading curator of land, property, and real estate data, today released its Year-End 2023 U.S. Foreclosure Market Report, which shows foreclosure filings— default notices, scheduled auctions and bank repossessions — were reported on 357,062 U.S. properties in 2023, up 10 percent from 2022 and up 136 percent from 2021 but down 28 percent from 2019, before the pandemic shook up the market. Foreclosure filings in 2023 were also down 88 percent from a peak of nearly 2.9 million in 2010.

Key Points:

Foreclosure filings in 2023 were also down 88 percent from a peak of nearly 2.9 million in 2010.
"Reflecting on 2023, we see the recent rise in foreclosure activity as a market correction rather than a cause for alarm.
"Our data suggests that while foreclosure activity may fluctuate, it's unlikely to approach the highs seen in the last decade.
Instead, we foresee a market that is more reflective of broader economic trends, with foreclosure filings becoming a more predictable aspect of the housing landscape.

POTOMAC BANCSHARES, INC. REPORTS 2023 THIRD QUARTER RESULTS

Retrieved on:

Thursday, November 2, 2023

Net unrealized losses in the AFS portfolio were $11.9 million as of Q3 2023 and $10.6 million as of Q2 2023.

Key Points:

Net unrealized losses in the AFS portfolio were $11.9 million as of Q3 2023 and $10.6 million as of Q2 2023.
Our Federal Reserve balance was $37.2 million as of Q3 2023 compared to $27.0 million as of Q2 2023.
Given the strong credit quality and nominal growth, there was no provision for credit losses in Q3 2023 and $191 thousand recorded in Q2 2023.
The dividend is for all shareholders of record on November 2, 2023, and will be paid on November 9, 2023.

Freedom Financial Holdings Announces Earnings for Third Quarter of 2023

Retrieved on:

Friday, October 27, 2023

Freedom Bank enjoyed 17.2% annualized growth in loans and 10.2% annualized growth in deposits during the third quarter compared to the linked quarter.

Key Points:

Freedom Bank enjoyed 17.2% annualized growth in loans and 10.2% annualized growth in deposits during the third quarter compared to the linked quarter.
Return on Average Assets ("ROAA") was 0.49% for the quarter ended September 30, 2023, compared to 0.69% for the linked quarter and 1.15% for the three months ended September 30, 2022.
The Efficiency Ratio3 was 76.43% for the quarter ended September 30, 2023, compared to 69.02% for the linked quarter and 59.19% for the same period in 2022.
The Efficiency Ratio was 76.43% for the quarter ended September 30, 2023, compared to 69.02% for the linked quarter and 59.19% for the same period in 2022.

Elmer Bancorp, Inc. Announces Third Quarter 2023 Financial Results

Retrieved on:

Thursday, October 26, 2023

Banking, Professional Services, Finance, FDIC, Federal Deposit Insurance Corporation, OTC Markets Group, Bank, The First, Government, ELMER, National bank, Real estate owned, Current Expected Credit Losses, Employment, First National Bank, Investment, Cryptocurrency, Insurance

ELMER BANCORP, INC. (“Elmer Bancorp” or the “Company”) (OTC Pink: ELMA), the parent company of The First National Bank of Elmer (the “Bank”), announces its operating results for the three and nine months ended September 30, 2023.

Key Points:

ELMER BANCORP, INC. (“Elmer Bancorp” or the “Company”) (OTC Pink: ELMA), the parent company of The First National Bank of Elmer (the “Bank”), announces its operating results for the three and nine months ended September 30, 2023.
Net interest income for the three months ended September 30, 2023 totaled $3.688 million, an increase of $356,000 from $3.332 million in the third quarter of 2022.
For the nine months ended September 30, 2023, net interest income totaled $11.220 million compared to $9.075 million for the nine-month period of 2022.
Brian W. Jones, President and Chief Executive Officer stated, “The third quarter proved to be yet another quarter of strong earnings.

Institutional asset management veterans join forces to form national boutique firm, Xroads Real Estate Advisors

Retrieved on:

Friday, September 15, 2023

CHICAGO, Sept. 15, 2023 /PRNewswire/ -- Xroads Real Estate Advisors, a national full-service real estate asset management and advisory firm, launches this week, representing a new era for Crossroads Partners, the property management and brokerage group founded in 2006 by Michael Nortman.

Key Points:

Full-service asset management for lenders, private and institutional owners
CHICAGO, Sept. 15, 2023 /PRNewswire/ -- Xroads Real Estate Advisors, a national full-service real estate asset management and advisory firm, launches this week, representing a new era for Crossroads Partners, the property management and brokerage group founded in 2006 by Michael Nortman.
Xroads will offer highly customized full-service asset management and advisory services including property management, agency leasing, capital markets strategies and back-office accounting services.
David Camins' experience includes roles as a Wall Street lender, asset manager and debt and equity advisor.
"You will be hard-pressed to find another real estate group that has the collective skill set the Xroads leadership team offers, from workouts and dispositions to receiverships, institutional ownership, capital markets solutions and related services.