Security National Servicing Corporation
In 1996, Security National Properties opened as a commercial real estate company that specializes in the acquisition, development, and management of office and retail properties. In 1998, SNP issued their first bond securitization, providing investors an opportunity to participate in pools of performing assets.
Today, the Company manages a diverse portfolio of residential and commercial assets as well as a select group of non-real estate loans. We anticipate continued growth as a result of our success in procuring new portfolios, effectively managing our assets, and strategically diversifying into related business activities.
Listings:
At the time of this writing, they have REO property in every state in the U.S. The listing pages are very basic with few having actual pictures. After reviewing a handful of listings in different states we would recommend just contacting the broker and getting some concrete information.
Link:
Popularity: 8%
HUD (Housing and Urban Development) REO Properties
HUD is a government entity that was created in 1937 to providing housing development for low to moderate income individual & families.
I extensively navigated through the various states. First thing we noticed was it was not the same website for each state even though a portion of the HUD listings are through one website. I tried to do all the major cities to see what was available and how well the REO search functioned.
Surprisingly it was very easy to use and fast. I was enamored to be honest, I found some pretty good deals (TBD) in my opinion with some properties looking pretty good and they were close to the city centers.
There is only residential listings to my knowledge. With that said, I did see some properties with nine bedrooms. This looks to be a good find and happy hunting.
Link:
Popularity: 7%
HSBC Commercial REO Properties
Found these listings for Commercial REO property through HSBC. Not much selection when this review was written. A very basic listing with property type. map picture and broker contact information. Please forgive the briefness of this review being the lack of multi-state listings.
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Popularity: 9%
GMAC ie: Capmark Financial Group REO Properties
This is the Capmark Financial Group and partially owned by General Motors. On March 23rd 2006 a private equity consortium including KKR, Goldman Sachs Capital, and Five Mile Capital purchased $8.8 billion, or 78% of GMAC, GM’s commercial mortgage arm. The new entity, in which GMAC will own a 21% stake, will be known as Capmark Financial Group.
Their REO database search is very basic. Interesting, at the time of this writing we did not find in listings in the “West Coast” region. We did however find residential and commercial properties listed, even one on a golf course. Most of the listings are of high value that is shown in there 7 figure prices or a “contact broker” message.
The listings have a decent amount of information and with nice photos. They have even map linked them to find out the area they are located in.
Popularity: 11%
Freddie Mac REO Property Search
Freddie Mac is the other U.S. government sponsored Enterprise or GSE. These GSE’s mission is too make funding available for first time home buyers. The offer common stock and bonds to investors that pay out income based on the interest payments homeowners make.
Freddie Mac has a fully featured property search with listings in almost all states. All the listings are residential single family units. Some of the REO listings have pictures. There is minimal information about each piece of real estate with a local broker that handles that areas. One nice feature was the Yahoo! Maps link. We used Google Maps to look at some listings in San Diego that had no picture, with the Street View option, we actually could see some of the properties that were picture-less.
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Popularity: 16%
FDIC REO Property Listings
Federal Deposit Insurance Corporation (FDIC) has a REO property search online. It is a very basic search function with listings in every state. What is not basic is the type of properties you can find. Not only do they have residential listings but all sorts of commercial properties like Office, Hotel, Restaurants, Farm Land and Industrial.
The listings them self have basic information about the property. We did not see many pictures on the listings we reviewed and some had incomplete broker information so you will need to get on the phone with the broker to get some concrete details. They do also have a bargain property section that looks to have some reduced priced real estate mostly located in the hard hit areas in the U.S.
Link:
Popularity: 14%
Fannie Mae Owned REO Property Search
Fannie Mae has a feature rich and easy to use REO property search. With the recent raising of the conforming loan limits, Fannie Mae has taken many loans on to its book in recent times and it shows with the number of real estate property listings. They are all residential with single family up to 2-4 unit properties. They also have condos.
At the time of this writing, they had REO listings in almost all states except New York. You can sort your searches by City, Price, Type and Zip Code.
Information About FannieMae:
Fannie Mae has a federal charter and operates in America’s secondary mortgage market to ensure that mortgage bankers and other lenders have enough funds to lend to home buyers at low rates. Our job is to help those who house America.
Fannie Mae was created in 1938, under President Franklin D. Roosevelt, at a time when millions of families could not become homeowners, or risked losing their homes, for lack of a consistent supply of mortgage funds across America.
Link:
Popularity: 12%