Auction.com: Western U.S. Could See Foreclosure Increase

Auction.com: Western U.S. Could See Foreclosure Increase


Auction.com: Western U.S. Could See Foreclosure Increase

Industry Update
July 1, 2019

Source: Auction.com

Additional Resource:

DS News (Foreclosures in Western U.S. a Cause for Concern)

High-level findings from the survey:

• 80 percent of respondents expect only slight changes in foreclosure and bank-owned (REO) inflow in the second half of 2019, with a 50-50 split between that change being an increase or decrease

• 40 percent identified the U.S. West region as most likely to see an increase in distressed inventory in the second half of 2019, beating out the Midwest (23 percent), Northeast (20 percent) and South (17 percent).

• 72 percent plan to increase loss mitigation actions in the second half of 2019, with 81 percent of those expecting an increase in distressed inflow planning to increase loss mitigation actions.

• 40 percent identified Expedited Time to Sale as their top disposition priority, beating out Return on Investment, Loss Mitigation and Avoiding Headline Risk.

• 46 percent selected Property Preservation as the biggest disposition challenge they face, beating out Aged Inventory, Pricing Execution, and Regulatory Hurdles.

To access full report, please click the source link above.

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