Alabama's foreclosure inventory falls slightly in September

Alabama's foreclosure inventory falls slightly in September
For the 12 months ended in September, there were 763,589 completed foreclosures in the U.S. Five states accounted for nearly half of those: California (108,000), Florida (92,000), Texas (59,000), Georgia (55,000) and Michigan (51,000). In Alabama …
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3Q Foreclosure Lowest Since 2007 – Analyst Blog
In the reported quarter, the top 10 states with the highest foreclosure rates were Florida, Arizona, California, Illinois, Georgia, Nevada, Ohio, Michigan, South Carolina and Colorado. Moreover, out of the total 24 non-judicial states, the overall …
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Results of Distressed Homeowner Initiative in California Released by U.S.
Tikal: One foreclosure rescue scam in the Eastern District of California victimized more than 1,000 homeowners, who paid out in excess of $ 3.1 million dollars. Claiming to reduce the outstanding principal on their home loans by 75 percent, the …
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Report Points to Increased Appetite for Distressed Commercial Real Estate Supported by Low Borrowing Costs in 2012 and 2013; CMBS Delinquency Rate Falls Below 10%


San Francisco, CA (PRWEB) October 23, 2012

There is a change in the U.S. commercial mortgage-backed securities (CMBS) industry. The U.S. CMBS Delinquency Report, released by the New York-based research and consulting firm Trepp, indicates that the distressed commercial real estate industry is in somewhat better health.”The CMBS market is on its firmest footing in four years,” said Manus Clancy, senior managing director of Trepp. In fact, the delinquency rate for CMBS loans fell 14 basis points to 9.99% in September. This brings the rate below 10% for the first time since April.

The Trepp report says that CMBS issuance levels rose, and delinquency levels have contracted. Trepp, LLC, is a leading provider of information, analytics and technology to the CMBS, commercial real estate and banking markets,

However, bad debt and matured loans still linger, and need to be cleared out of the system or be reworked. Trepp reports that there were around $ 3.3 billion of newly delinquent loans in September. The addition of these loans to the delinquent loan category provided upward pressure on the rate. With the same amount of newly delinquent loans in August, the effect on the rate was similar.

Trepp reports that the appetite for distressed real estate remains high among investors, while borrowing costs remain extremely low. This should allow special servicers to operate at a high speed for the foreseeable future. The CMBS new issuance market has also seen a resurgence over the last three months, leading the market to raise its expectations for securitization volume over the next six months. As new deals tend to perform extremely well, they should help to dilute the bad legacy loans that still exist.

Clearly, the chance to buy distressed commercial real estate at low prices is here, and the moment for entry into the market is now, as competition for available assets will only become steeper in the near future. To get the best of the distressed commercial market, however, analysts say that buyers need to reach out directly to sellers and to negotiate person-to-person, or use a specialist like Genesis Capital. Even at this point in the cycle, owners are finding it hard to accept the lower valuations that the post-crisis period has brought in. Experienced negotiators can get past this psychological obstacle.

About Genesis Capital

Genesis Capital provides a unique forum for distressed and off market assets. Genesis sources off market assets from private clients and from banks for opportunity buyers. Assets may or may not be distressed, but they are always off market. Genesis works principal to principal only (no brokers) and keeps fees low.







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Peak Sun Silicon falls hard as state begins foreclosure

Peak Sun Silicon falls hard as state begins foreclosure
On Thursday, a Linn County judge gave the Oregon Energy Department permission to foreclose on the property owned by Peak Sun, which defaulted on a $ 14 million state loan. Peak's abortive take-off and dramatic burnout testify to the rise and fall of the …
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Foreclosures going behind closed doors
A judicial foreclosure is handled by the courts, ending in a sale conducted by the county sheriff “on the courthouse steps.” Sheriff's sales of property also have required newspaper notices in the past, but the Oregon Legislature decided instead to …
Read more on McMinnville News-Register