Short Sales A tale of information, institutions and imagination Florida Association of Realtors
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Transcript of Short Sales A tale of information, institutions and imagination Florida Association of Realtors
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Short Sales A tale of information,
institutionsand imagination
Florida Association of Realtors Global Solution Team
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Florida foreclosure and delinquency rates are far above
national averages
In a crisis everything is correlated
Global Solution Team
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Underwater homeowners already dominate many local markets
…So What?
Global Solution Team
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Short Sales are essential, and will continue to be very painful.
Why?
Global Solution Team
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“It’s not what you don’t know that get’s you. It’s what you think you know,
but it just ain’t so.”
Global Solution Team
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The Information and institutional issues
impacting your transactions start at the top
Global Solution Team
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We assume big banks have the capabilities to do simple
mortgage stuff
Global Solution Team
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The reality is that the mortgage industryinfrastructure was a train wreck
before the crisis
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Foreclosure & loan mod results reflect insufficient motivation and
inadequate means
Global Solution Team
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Servicers are now dealing with robo-gate, MERS, dual track,
put backs, litigation, etc.
Global Solution Team
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Reliance on Servicers for Short Salesis an already failed strategy
Global Solution Team
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Realtors can reverse the polarityin the Short Sale process with
information
Global Solution Team
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13Global Solution Team
Local Valuation Data + Treasury NPV + HAMP Last
Look = Pre Approved Price
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14Global Solution Team
Break the Homeowner Information Barrier
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It’s mostly math and motivation
Global Solution Team
Loan ID
Optimal Outcome
UPB Mod NPV
FC NPV
DIL NPV
Short Sale NPV
1318 Short Sale $196,874 $19,445 $40,528 $63,296 $73,177
1341 Deed In Lieu
$64,111 -$47,145 $63,832 $315,679 n$296,866
1336
Loan Mod $345,000 $208,244 $183,539 $139,753 $131,851
1302 Foreclosure $218,347 $132,953 $154,925 $119,938 $127,400
1309 Short Sale $135,800 $31,273 $58,014 n$60,938$21,445
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Give us your underwater homeowners (bulk loan files)
yearning to move
Global Solution Team
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Connecting to the systems necessary to stop foreclosures
Global Solution Team
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18Global Solution Team
Dodd Frank, Move.com and PREO have already done the
heavy lifting
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19Global Solution Team
A Realtor driven Short Sale process
means getting your ducks in a row
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“Plug the Damn Hole”
with an existing Realtor friendly infrastructure
Global Solution Team