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» looking forward to a successful and longstanding relationship with Fannie Mae." Building a name in the REO industry over the past 27 years, Marc Oppenheimer and team have become synonymous as one of the most successful REO teams in the metro ATLANTA area. Marc, who is a proven REO market leader, utilizes his local real estate knowledge, experience and education for the benefit of all he serves. His community leadership creates strong relationships for the benefit of his clients. Working with Marc directly will put you on top of your Short Sale or REO. He is a certified CDPE Short Sale and a NAR BPOR. In a changing housing market and today's technology, Marc will put you in front of the competition and the world. ATLANTAREO.COM is ranked #1 on . Rely on a name and a team you can trust! Marc Oppenheimer Associate Broker, CDPE / BPOR 1854 Independence Square Suite D Dunwoody, GA 30338 Phone: (770) 668-0063 Cell: (678) 296-6550 oppy@atlantareo.com ODI Altisource to Buy FeeBased Businesses from Ocwen for $218.6M Altisource Portfolio Solutions, a Luxembourg-based company with its U.S. headquarters in Atlanta, announced in February it is purchasing certain fee-based businesses from Ocwen Financial for a combined purchase price of $218.6 million. According to a company release, Altisource entered into non-binding letters of intent with Ocwen to acquire certain fee-based businesses related to the servicer's recent purchase of Homeward Residential and the anticipated purchase of the mortgage-servicing platform from Residential Capital. The letter of intent for Homeward's fee-based businesses gives Altisource all of the capital stock of Beltline Road Insurance Agency, Power Default Services, Power REO Management Services, and Power Valuation Services. Altisource will also acquire the mortgage asset recovery special services division of Stratus Asset Management Group and certain intellectual property and information technology assets of Homeward Residential's platform. In addition, Altisource will acquire certain fee-based businesses related to default management and charge-off services, designated intellectual property, and information technology assets related to ResCap. "These fee-based business acquisitions are strategically valuable to Altisource, helping us maintain our business model with Ocwen, expanding our footprint, and providing significant revenue and earnings growth to Altisource," said William B. Shepro, CEO of Altisource, in a release. "By selling these non-core assets, Ocwen is able to achieve a greater projected return on the Homeward and ResCap servicing acquisitions and to continue to focus primarily on growing our core residential and commercial servicing businesses. Having an outlet for disposition of peripheral mortgage-related assets significantly enhances Ocwen's competitive positioning for future servicing platform acquisitions that include non-core operations," added Ronald M. Faris, CEO of Ocwen. VISIT US ONLINE @ DSNEWS.COM Georgia Bank Collapses; 2013 U.S. Tally Now at Four FDIC announced last month the closure of Frontier Bank, based in LaGrange, Georgia. The Georgia Department of Banking and Finance shut down the bank, appointing FDIC as receiver. HeritageBank of the South (Albany, Georgia) has picked up all of Frontier Bank's $224.1 million in deposits and "virtually all" of the closed bank's $258.8 million in assets, FDIC said. The total estimated cost to the Deposit Insurance Fund will be $51.6 million. Frontier Bank mark's Georgia's first bank failure in 2013 and is the nation's fourth failure overall this year. By the same time in 2012, there had been 12 bank collapses. STAT INSIGHT Total foreclosure sales in Georgia in Q4 2012. Source: RealtyTrac Hawaii rank: 4 90+ Day Delinquency Rate Foreclosure Rate January 2013 2.35% Unemployment Rate 5.97% 5.2% year ago 2.70% 6.18% 6.3% year-over-year change -12.8% -3.4% -17.5% Top County Hawaii CounTy 90+ Day Delinquency Rate Foreclosure Rate January 2013 2.92% 10.83% year ago 3.56% 11.10% year-over-year change -18.0% -2.5% Top Core-Based Statistical area Hilo, Hi 90+ Day Delinquency Rate Foreclosure Rate January 2013 2.92% 10.83% year ago 3.56% 11.10% year-over-year change -18.0% -2.5% note: The 90+ Day delinquecy rate is the percentage of outstanding mortgage loans that are 90plus days delinquent. The foreclosure rate is the percentage of outstanding mortgage loans currently in foreclosure. State rank is based on the January 2013 foreclosure rate. All figures are rounded to the nearest decimal. The unemployment rate reflects preliminary January 2013 figures released by the Bureau of Labor Statistics. All other data courtesy of Lender Processing Services. 89