Example Of Eviction Timelines - 818 Words

RMS continues to work with SAM on reducing the eviction timelines and improving the relocation assistance (CFK) acceptance rate. Part of this is reviewing CFK offers to make sure the offers are â€Å"sufficiently meaningful† to induce the occupant to accept CFK. SAM’s CFK acceptance rate for lower valued properties has historically been very good. However, on higher valued properties and on assets in jurisdictions where the eviction timeline is very extended, we believed the CFK offered was not high enough to induce the occupant to accept the CFK offer versus staying in the property and forcing a full eviction. CFK offers have been an ongoing discussion between SAM, Assured and RMS since the beginning of this project. After a â€Å"CFK† call†¦show more content†¦These 6 assets are described more fully above. LoanNo eff inv cd DII Days In Redemption Property City Property State Property Status Desc 1000936706 129 357 10 KEANSBURG NJ Occupied 1005255819 220 258 10 EAST ORANGE NJ Occupied 1010668802 419 205 CYPRESS TX Occupied 1010669623 419 343 344 FORT WASHINGTON MD Occupied 1010675840 419 300 ROSEMEAD CA Occupied 1010692014 419 726 OAKLAND CA Occupied Of the remaining 14 assets in eviction, the Average Days in REO is 111 and average days in redemption of 33. 6 are in an occupied auction. III. Valuations and Marketing As of October 31, 2017, there were 9 listed assets When reviewing the 9 assets that were listed as of October 31, 2017, comparing the initial list price, current list price and â€Å"recon value† (which is the SAM reconciled value used to list a property), 1 of the assets had a variance (sales price as a percentage of the initial list price) outside of what RMS believes is an acceptable range. This is a low value asset in Gary Indiana and RMS has questioned why SLS took the asset to foreclosure. 2 assets have more than 60 days on market 3 listed assets have less than 30 days on market As of October 31, 2017, there were 13 assets under contract When reviewing the 13 assets that were under contract as of October 31, 2017, comparing the sales price to the initial list price and â€Å"recon value† (which is the SAM reconciled value used to list a property), 5 of 13Show MoreRelatedAssessing The Population Of 11 Assets1454 Words   |  6 Pagesadjustments to avoid additional days on market and days in REO. Doing modest reductions, which is an Altisource philosophy, even when indicators (e.g., low offers, lack of offers, no showings) reflect a larger adjustment is needed, increases REO timelines and carrying costs. List price continues to be a frequent topic during our weekly target assets and RMS raises these issues on an asset-level basis, reviewing activity, property condition, feedback and offers (or lack thereof). Because AltisourceRead MoreEffects Of Rms On Our Daily Weekly Calls1709 Words   |  7 Pagestimely adjustments to avoid additional days on market and days in REO. Doing modest reductions, which is an A ltisource philosophy, when indicators (e.g., low offers, lack of offers, no showings) reflect a larger adjustment is needed increases REO timelines and carrying costs. List price continues to be a frequent topic during our weekly target assets and RMS raises these issues on an asset-level basis, reviewing activity, property condition, feedback and offers (or lack thereof). 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