We use this blog to share our thoughts on the REO industry, the process we are undergoing by bumping our way around, and the lessons we have learned along the way as a company.
A note to readers unfamiliar with the term “REO” :: This is an acronym which refers to the servicing part of the foreclosure market. It stands for “Real Estate Owned”. An REO property is one which has gone into default and is re-purchased by the bank. The rise of the foreclosure market has forced the banks who approved loans for new homes to play a new role as property managers once these homes were foreclosed upon. Those on the servicing side are responsible to the banks for putting these properties in a marketable state so that they can be re-sold and taken off the bank’s books.
We invite your responses, whether you agree or disagree. All input is valuable and helps us to continue growing. The goal of Integrity REO Solutions is to primarily serve neighborhoods by administering reparative services to vacant homes. We hope to flesh this idea out as we write out our feelings and thoughts. Thank you for joining us on the journey!
— Founder and CEO, Doug Williams