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Wilshire | Bank REO Real Estate
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Wilshire Credit Corporation (Loan Servicer) REOs

July 22, 2008 by · Leave a Comment
Filed under: Regional REO Brokers 

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Wilshire Credit Corporation is a loan servicer that handles mortgage payments for banks and other financial institutions.  After browsing through the website going through various links, I believe they are affiliated with the Merrill Lynch Investment brokerage.  I found this by finding a link that goes to some home buying tools that is branded by Merrill Lynch.

The REO property search is pretty basic with a map of the US that you can click on the select a state.  One nice feature is that when you select a state is automatically populates all the cities that has REO listings at that time.  I have only seen residential listings at this time but I am not sure if they offer commercial real estate also.  It might be worth a quick call to inquire.   One quick note, you need to allow pop-up windows to see REO listings.

REO Info:

REO (Real Estate Owned) is residential property, which is owned by a lender or bank. It is usually acquired through a foreclosure. The property is then listed by a real estate professional and marketed through their local and national MLS (Multiple Listing Service) and websites such as www.Realtor.com REO properties are generally sold in as-is condition and, as a result the pricing might be more attractive for someone wanting to invest sweat equity or as an investment. However, many of our properties are in “move-in” condition.

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