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Managing OREO

Course Description

Other Real Estate Owned (OREO) is a class of property that is owned by a lender after a foreclosure sale has not been successful. When the lender repossesses the property, the financial statement will classify the property as "other real estate owned" since owning the property was not in the lending institutions™ original intent “ they expected the loan to be repaid in full, with interest. This course will provide an overview of the OREO terms and concepts, the associated risks, and guidelines for managing the OREO situation.
20 Minutes
Series: Compliance Plus
Roles: Mortgage Professionals, Mortgage Closer, Mortgage Loan Originator, Mortgage Processor, Mortgage Underwriter
Course Format: Online Self-Paced
Package: Mortgage Advantage, Mortgage Complete, Mortgage Edge

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