Fest, Glen
May 2008
Bank Technology News;May2008, Vol. 21 Issue 5, p16
Trade Publication
The article discusses issues related to foreclosures confronting real estate owned (REO) portfolios in the U.S. The decline in the prices of homes by more than 10 percent drives banks to look for outside vendors to help them cope with the turmoil in the market. A research shows that mortgage firms and banks will increase collections and REO information technology (IT) spending to $400 million in 2008.


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