Wms & Wms Unit to Buy REO Assets

Williams & Williams Assets, a newly formed division of Tulsa, Okla.-based real estate auction firm Williams & Williams, has announced that it will directly acquire mortgage investors' collateral risk.The new division said it is "actively pursuing" bulk portfolios of foreclosed real estate assets from Wall Street investors and other financial institutions, as well as contractual flow purchase agreements relating to such assets. "There is not a single financial institution I am aware of that likes having real-estate-owned properties on their books," said Dean Williams, chief executive officer and president of Williams & Williams. ".... We're able to structure direct and/or ongoing purchases of these assets in the hundreds of thousands of properties per month, increasing the net realized returns compared to traditional REO disposition and effectively eliminating, or at least stemming, the related collateral risk incurred by mortgage investors." The company can be found online at http://www.williamsauction.com.