real estate owned

Also found in: Dictionary, Acronyms, Encyclopedia, Wikipedia.

Real Estate Owned

Describing property owned by a lender after a foreclosure and the lender's subsequent failure to sell at a foreclosure auction. That is, if a bank forecloses on a property, it attempts to sell the property at an auction for an amount at least equal to the outstanding loan and associated fees. If it fails to do this (usually because the market value of the property is less than the outstanding loan), the property becomes real estate owned. The bank then attempts to sell the property at whatever price it can find. Real estate speculators often seek out real estate owned property because they can sometimes buy it for less than the market value.

real estate owned (REO)

Foreclosure property held by a lender.

Mentioned in ?

References in periodicals archive ?

"Sales of other real estate owned were essentially on a break-even basis for the third quarter of 2011, consistent with the second quarter of 2011.

Results vary for five big out-of-state bank firms during 2011

The decline in impairment and gains and losses on sales of other real estate owned and repossessed assets was driven mainly by the year-over-year decline in the size of this asset portfolio and the timing of the Company recording impairments.

Hampton Roads Bankshares Announces First Quarter 2016 Financial Results

The increase in other income was primarily due to the gain on sale of property held for future development which amounted to USD806,000, and to a lesser extent, net gains from the sale of other real estate owned which amounted to USD326,000.

-Alliance Bancorp reports quarterly results and dividend

The decrease in non-performing assets during the quarter was primarily due to a $3 million or 8% decrease in real estate owned. Delinquencies on loans decreased to 0.90% at

Washington Federal Increases Earnings Per Share by 7.14%

1 March 2013 - Puerto Rico-based Popular Inc (NASDAQ:BPOP) said today its main banking unit, Banco Popular de Puerto Rico, agreed to sell USD568m (EUR435.9m) book value of non-performing loans and other real estate owned to a company controlled by a joint venture between Caribbean Property Group LLC and affiliated funds of Perella Weinberg Partners Asset Based Value Strategy.

Non-performing loans decreased USD1,091,000 from September 2011 to September 2012 and other real estate owned increased USD4,298,000 in the same time period.

-The Bank of Kentucky Financial 3Q earnings up 4%

Earnings before provision for loan loss and real estate owned write-downs of USD276,000 (USD1.1m annualised) for the fourth quarter ended December 31, 2011, compared with USD45,000 (USD180,000 annualised) for the fourth quarter of 2010.

-Treasure State Bank reports fiscal results

Appreciation of the billions of dollars in commercial real estate owned by aging baby boomers has created huge demand for selling these highly appreciated properties to create cash flows through other sources, without the headaches associated with managing and owning a property.

More investors are buying into TICs, but should they?

Earnings before non-cash expenses of depreciation and amortization, loan loss provisions, real estate owned write-downs and stock option expense were USD214,000 in the period, up from USD213,000 in the second quarter of 2011.

-US Treasure State Bank's net operating profit eases in Q2 2012

"This strategic expansion of Patriot Equities' all-star lineup furthers the company's growing reputation as the premier destination for corporate real estate professionals, and validates the strength of our core mission: streamlining processes for the executives responsible for the estimated $3 trillion of real estate owned by corporate America," says Erik Kolar, president and CEO of Patriot Equities.

Patriot adds trio of heavy hitters

Financial browser ?

Full browser ?

CITE

Site: Follow: Share:

Open / Close