REO

The number of properties in foreclosure nationwide rose in the third quarter as the logjam in some judicial states has loosened, according to RealtyTrac.

Altisource has set its sights on the real estate services market with two acquisitions that will dramatically grow its business in this area.

Bank mortgage servicers suffered bigger loan losses in three high foreclosure states than their nonbank counterparts, a Moody's Investors Service report suggests.

Colony American Finance is preparing its first securitization of loans to single-family landlords, according to Kroll Bond Rating Agency.

Jon Gray, global head of real estate at Blackstone Group, said the private equity firm is "bullish" on rental housing in New York and Miami, two cities where high home prices make purchases more difficult, sending tenants to the landlord's apartments and houses.

Fannie Mae and Freddie Mac have put billions of dollars' worth of distressed mortgage assets up for sale this year, but small buyers acquiring carve-outs of these offerings are driving activity in this niche market.

Home prices nationwide rose 0.4% from June to July, according to Black Knight Financial Services.

While banks have significantly decreased their problem assets from their 2010 peak, sour credits remain much higher than in 2006. A number of banks have been reluctant to sell these assets because of low interest rates and a struggle to find better investments.

From due diligence and portfolio analysis to strategies for compliance and raising capital, the rapidly-evolving market for buying and selling distressed mortgage assets has created both challenges and opportunities for investors, servicers and portfolio managers.

Michaelson, Connor & Boul has formed a consulting division related to Federal Housing Administration loan portfolios, after it lost a management contract for REO properties.