SourceMedia Debuts Managing REO
New eBook publication dedicated to the informational needs of real estate-owned asset managers at financial institutions
NEW YORK, March 22, 2006 – SourceMedia’s Mortgage Group announces Managing REO, a bi-weekly eBook designed to offer practice management information to lending institution real estate owned managers. Its primary audience is financial institution portfolio asset managers, but attorneys, appraisers and real estate agents will also have an interest in the unique eBook. Managing REO will deliver facts, industry trends and data that will serve as a resource to asset managers in increasing their overall effectiveness.
REO is described as real estate-owned by a savings financial institution as a result of borrower default, followed by a foreclosure by the institution. Mortgage interest rates are rising and thousands of marginal borrowers have been qualified on risky interest-only loans or option adjustable mortgages. The boom in housing prices has not quite lived up to expectations, thus REO will increase.
Mark Fogarty, editor of Managing REO and editorial director of the SourceMedia’s Mortgage Group, said, “Asset managers, directed to maximize returns on their owned portfolios by their financial institutions, expressed concern that there was not enough focused coverage in their specialized niche. We will leverage our 30 years of experience with mortgage lenders to detail the best ways to maintain high property values and subsequently dispose of them quickly and profitably.”
Fogarty oversees the entire Mortgage Group, including, National Mortgage News, Mortgage Servicing News, Mortgage Technology, Broker, Origination News and Home Equity Wire. Jennifer Harmon is the publication’s managing editor.
“SourceMedia’s Mortgage Group is dedicated to providing mortgage professionals with the criteria and resources they need to be successful in their industry,” Fogarty said. “The launch of Managing REO allows SourceMedia to tap into another substantial area in the mortgage industry to provide additional insight and current trends.”
Free subscriptions are available at www.managingreo.com.