Comments on: Banks Getting Better At Processing Foreclosures http://www.therealestatebloggers.com/2009/10/12/banks-getting-better-at-processing-foreclosures/ Real Estate Blog, Mortgage, and Development News Sun, 21 Mar 2010 17:00:51 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Tom Royce http://www.therealestatebloggers.com/2009/10/12/banks-getting-better-at-processing-foreclosures/comment-page-1/#comment-414292 Tom Royce Wed, 14 Oct 2009 03:11:41 +0000 http://www.therealestatebloggers.com/2009/10/12/banks-getting-better-at-processing-foreclosures/#comment-414292 I think you are right at how the mortgage companies are handling short sales. The banks are corporations and thus are bureaucratic enterprises. Making the decision on a short sale is a decision to intentionally lose money and opposed to slowly leaking money. To an entrepreneur making the move quickly makes sense, but the banker tends to wait just in case something better comes along. If the banks board of directors created incentives for the feet on the ground to make fast, tough decision the process would be better for all parties. I think you are right at how the mortgage companies are handling short sales. The banks are corporations and thus are bureaucratic enterprises. Making the decision on a short sale is a decision to intentionally lose money and opposed to slowly leaking money. To an entrepreneur making the move quickly makes sense, but the banker tends to wait just in case something better comes along.

If the banks board of directors created incentives for the feet on the ground to make fast, tough decision the process would be better for all parties.

]]> By: Matthew Rathbun http://www.therealestatebloggers.com/2009/10/12/banks-getting-better-at-processing-foreclosures/comment-page-1/#comment-414291 Matthew Rathbun Wed, 14 Oct 2009 02:59:02 +0000 http://www.therealestatebloggers.com/2009/10/12/banks-getting-better-at-processing-foreclosures/#comment-414291 I am stuck thinking that Lenders still have little incentive to approve the Short Sale and less incentive to pay sufficient staff to handle the Short Sale requests. I'd really like to see an independent study of the corporate processes of the major lenders. Someone needs to give recommendations of how to make the system more efficient. I am stuck thinking that Lenders still have little incentive to approve the Short Sale and less incentive to pay sufficient staff to handle the Short Sale requests.

I’d really like to see an independent study of the corporate processes of the major lenders. Someone needs to give recommendations of how to make the system more efficient.

]]> By: The Battle in Loan Modification « AccuriZ http://www.therealestatebloggers.com/2009/10/12/banks-getting-better-at-processing-foreclosures/comment-page-1/#comment-414284 The Battle in Loan Modification « AccuriZ Tue, 13 Oct 2009 17:35:28 +0000 http://www.therealestatebloggers.com/2009/10/12/banks-getting-better-at-processing-foreclosures/#comment-414284 [...] with loan-mods with the Administration issuing progress reports periodically. Also, news of banks getting better at processing foreclosures is the silver lining in an otherwise dark [...] [...] with loan-mods with the Administration issuing progress reports periodically. Also, news of banks getting better at processing foreclosures is the silver lining in an otherwise dark [...]

]]> By: Housing News: 10/13/09 « AccuriZ http://www.therealestatebloggers.com/2009/10/12/banks-getting-better-at-processing-foreclosures/comment-page-1/#comment-414280 Housing News: 10/13/09 « AccuriZ Tue, 13 Oct 2009 14:21:59 +0000 http://www.therealestatebloggers.com/2009/10/12/banks-getting-better-at-processing-foreclosures/#comment-414280 [...] Banks Getting Better at Processing Foreclosures [...] [...] Banks Getting Better at Processing Foreclosures [...]

]]> By: Portland Real Estate http://www.therealestatebloggers.com/2009/10/12/banks-getting-better-at-processing-foreclosures/comment-page-1/#comment-414261 Portland Real Estate Mon, 12 Oct 2009 17:33:56 +0000 http://www.therealestatebloggers.com/2009/10/12/banks-getting-better-at-processing-foreclosures/#comment-414261 Well I would certainly hope that they are getting better at it! They are sooooo slooow. You would think that with this many homes to take care of they would get some sort of streamlined digital system to take care of everything, but apparently not. -Tyler Well I would certainly hope that they are getting better at it! They are sooooo slooow. You would think that with this many homes to take care of they would get some sort of streamlined digital system to take care of everything, but apparently not.

-Tyler

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