Customizable REO Asset Management Solutions

LAMCO supports clients at every stage of the default asset management and REO liquidation process, including prior to the property becoming REO. We work in a highly consultative manner, tailoring the scope of our services to provide each client with solutions for their specific needs and geographies.

LAMCO’s REO default management and liquidation services support activities at each stage of default and REO operations.

Default and REO Stages

Stage 1: Property Assignment

We work with your organization to create business rules that determine which properties are managed internally or by LAMCO. We then assign the best resources for managing every activity within the process.

Stage 2: Pre-Foreclosure

Oftentimes, LAMCO is engaged prior to foreclosure. Important activities such as occupancy checks, evaluating property condition and market analysis (BPO) are required in order to make decisions concerning the best strategy for property liquidation.

Stage 3: Property becomes REO

Once a property is foreclosed, LAMCO REO experts evaluate state guidelines for redemption and confirmation rights, confirm occupancy and begin the process of property preservation or relocation assistance.

Stage 4: Pre-Marketing

LAMCO REO professionals are skilled at using traditional as well as auctions for REO disposition. LAMCO works with each client to establish the optimal marketing strategy that will yield maximum financial results. If using a traditional, individual listing, we prepare and execute all listing documentation and provide qualified, experienced REO brokers within an established tracking and monitoring system. If the property is to go to auction, LAMCO professionals coordinate all the auction preparation activities and manage the process and schedule.

Sage 5: Active On Market

LAMCO actively manages each REO property while active on market. We review strategy and pricing every 30 days and coordinate marketing efforts. LAMCO provides comprehensive support for the REO realtors, including offer management (negotiations/acceptance), review all offer addenda executed from buyers and coordination of property inspections.

Stage 6: Closing Support

We offer support for the entire range of closing activities, including closing coordination, title curative, HUD review and contract endorsements. Our REO professionals manage all closing dates, disclosures and settlement documents and ensure the proper collection and distribution of proceeds.