NATIONAL ASSOCIATION OF REO BROKERS

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TABLE OF CONTENTS


A.  Introduction.

B. NAREOB's Client List.

C. NAREOB's History.

D. NAREOB’s Commitment.

E. NAREOB's Organization.

F. NAREOB Results.


A.      Introduction



The National Association of REO Brokers' real estate assignments include all 50 states in the USA.  These assignments includes traditional services in the marketing and disposition of foreclosed real estate, as well as related areas of default management. The Association works with Institutional Sellers, Real Estate Agents and MAI Appraisers involved in the real estate market.


Properties assigned to NAREOB by NAREOB clients include commercial, industrial, recreational, agricultural, special purpose, residential and public property types.

 

Our network of real estate licensees including MAI appraisers exceeds 1,800 professionals.


Collectively, NAREOB real estate brokers and agents have listed in excess of 150,000 REOs (real estate owned foreclosures). The average licensee has 14 years of real estate sales experience, with 4 years of REO marketing experience. NAREOB matches the licensee's qualifications to the property type to insure the Client has the right person for the job.

 

NAREOB's Clients include real estate lenders,  government agencies and institutional investors.


Since our first referral from California Federal Savings Bank in Los Angeles, California in 1988, the Association has worked with over 380 Clients. For the past twenty eight years, we have referred more than 29,000 requests for services to our network of brokers and appraisers.


NAREOB continually refers buyers for individual REOs to our network of NAREOB Brokers. In 1992, NAREOB experienced a significant increase in Buyers purchasing large pools of non-performing loans and real estate foreclosures. The Association has provided these institutional Buyers with custom services to assist in due diligence, acquisition and disposition of pools of assets.

 

B.      NAREOB’s Client List

 

The following is a partial list of former and current clients of the National Association of REO Brokers, Inc.

Abacus Federal Savings Bank

Accu Bank Mortgage

Advanta Mortgage USA

Aegon Realty Advisors

American Home Funding

American Mortgage & Inv

American R.E. Group  

Anchor Mortgage  

Arcs Mortgage  

Associates Financial Service  

Association National Mtge.  

Baltimore Federal Financial

Bank Atlantic  

Bank Smith Mortgage    

Bank of Boston  

Bank of Hawaii  

Barnett Banks, Inc.  

Beneficial Finance    

Benjamin Franklin S & L  

Berkeley Federal  

Beverly Hills Securities  

Boston Five Savings Bank  

Brazos Asset Management  

Butte Savings and Loan  

CS First Boston Corporation  

California Federal Bank    

Carteret Savings Bank  

CenTrust Mortgage  

Cenlar Federal Savings Bank  

Chase Manhattan    

Chemical Bank  

Citicorp Mortgage  

Citizens National Mortgage  

Collective Federal Savings

Comfed Savings Bank  

Commerce Mortgage  

Commercial Credit Corp.  

Commonwealth Mortgage  

Comnet Mortgage  

Connecticut National Bank  

Continental Savings of Amer.  

Countrywide

Delta Funding  

Dime Savings Bank of NY  

Dollar Mortgage Corp  

EMC Mortgage    

Eastern Savings Bank  

Empire of America  





Essex Mortgage

Express America Mortgage  

F.H.L. Financial  

FBS Mortgage  

FDIC

FGB Realty Advisor    

Farm & Home Savings  

First Denver Mortgage  

First Nationwide Bank  

1st Federal Santa Monica  

First Financial Savings  

First Interstate Mortgage  

First Los Angeles Bank  

First National Bank of AZ  

First National Bank  

First Union Mortgage  

Fleet Mortgage  

Fleet Real Estate Funding  

Ford Consumer Finance  

Foremost Servicing Company  

Founders Savings & Loan  

Freddie Mac    

GE Capital Asset  

Glendale Federal Bank  

Goldome Realty Credit  

Greenpoint Bank  

Greenthal Realty Partners  

Harold A Dawson  

Home Savings of America  

Home Star Industries, Inc  

Household Finance  

IMCO Realty Service  

Imperial Savings Bank  

Investors Mortgage Ins

J.E. Robert Company   

Key Bank of New York  

Key Corp

Kilburn-Young Asset  

Kliman & Associates  

Knutson Mortgage  

Leader Federal Savings & Loan  

Lender Service Bureau  

Liberty Capital Company  

Liberty Savings Bank  

Lincoln Service Corp

Loan America  

Loansmith

Lomas Mortgage USA  

Lone Star Field Service  

Long Beach Mortgage  

M & T Mortgage  

Medallion Mortgage  

Meridian Mortgage  

Metmor Financial Services  

Metropolitan Mortgage  

MidCoast Mortgage  

Miller Mortgage  

Money Store  

Mortgage Industry Advisor  

National First Mortgage  

National Home Mortgage  

National Mortgage Corp

National Stonehedge  

Nations Credit  

Nationsbank

New Dartmouth Bank  

Niagara Asset Corp  

North American Mortgage  

North Carolina National Bank  

Nova Financial Services  

Numerica Savings  

PCI Companies  

PMI Mortgage Insurance  

Portfolio Acceptance Corp

Prudential Home Mortgage  

RTC  

RealEcon

Resource Financial Group  

Roosevelt Bank of St. Louis

Standard Federal Savings  

San Francisco Federal S & L  

San Jacinto S.& L

Santa Paula S.& L

Savings of America  

Shorewood Financial Inc

Sibley Real Estate Services  

Signet Mortgage Corp

Simmons First Mortgage  

Sun belt Savings & Loan  

Summit Securities  

The Beverly Group  

Trust America Resources

The Clayton Group, Inc  

Transworld Mortgage

Travelers Mortgage

Verex Service    

U. S. Loan Corporation  

Union Planters National  

United Guarantee  

Wendover Funding  

Weyerhaeuser Mortgage      

Small Business Administration      





C. NAREOB's History

 

The history of the Association dates back to 1984, when Walter R. Barnes, NAREOB's Executive Director, became the first REO Manager to establish a network of real estate licensees. Mr. Barnes provided these agents with semi-annual training workshops, and written procedures to dispose of real estate foreclosures. These procedures and the broker network concept were quickly adopted by many REO departments nationwide.

 

In 1987, the National Association of REO Brokers was incorporated. NAREOB formed the first national REO Broker Network. The Directors of the Association brought to NAREOB a unique blend of real estate marketing, real estate lending and business backgrounds. Their years of experience in serving the needs of corporate America, combined with extensive experience in REO management and marketing, assured REO sellers that their needs were thoroughly understood. Over the years, NAREOB and the NAREOB Brokers have worked diligently to insure the REO seller and buyer is being well served.

 

Since its beginning, NAREOB has been an industry leader in providing buyers and sellers with:

 

1.  The most experienced and productive group of REO Brokers and Appraisers in the nation.

2.  Standard procedures to ensure consistent and high quality service.

3.  Comprehensive software programs designed to manage and market REOs.

4.  Contracts, contract addendum and other documentation designed to safeguard the seller.

5.  A pool of expert technical consultants to solve special problems.

6.  Educational workshops and conferences for REO sellers and institutional buyers.

7.  A NAREOB REO Hotline for immediate response and fast service.

 

D. NAREOB's Commitment

 

NAREOB's KNOWLEDGE WORKS TO THE REO SELLER'S AND BUYER'S ADVANTAGE. The knowledge and expertise of our NAREOB staff and its Brokers, Appraisers and Vendors benefits REO sellers and buyers in both the actual marketing and valuation of the REO and in defining problems that must be solved to make the property marketable. Whenever legal, structural, geological or environmental issues are involved, NAREOB can refer buyers and sellers to the required expert consultants.

 

NAREOB PROVIDES SUCCESSFUL RESULTS. As REO disposition experts, NAREOB Brokers achieve efficient and cost-effective results for our clients. The years of first-hand REO disposition experience enables NAREOB Brokers to prepare a property for market at minimum expense. NAREOB's goal is to achieve a sale which will result in a solid investment for the buyer while maximizing the recovery for the REO seller within the shortest possible time period.

 

NAREOB DELIVERS SPECIFICALLY WHAT THE REO SELLER NEEDS. By following standardized problem-solving procedures, NAREOB Brokers routinely meet the recovery objectives of REO sellers. Upon request, NAREOB will concentrate on the specific needs of related services, such as short sales.

 

NAREOB IS DEDICATED TO SERVICE. NAREOB and our Brokers are dedicated to providing the finest REO disposition service in the nation. REO Sellers and Buyers can be confident their interests are being serviced by 'America's Leaders in REO Disposition'.

 

E. NAREOB's Organization

 

The National Association of REO Brokers is a nationwide network of real estate professionals dedicated to serving the needs of the real estate foreclosure industry. Our goal is to provide our clients with a top quality, nationwide REO disposition and valuation services that are unmatched in:

 

1. Prompt and proper real estate valuations with a minimum loss of time and money.

 

2. Enabling the Client's staff to make the best use of their time and resources.


3. Providing a source for expert consultants.

 

F.  NAREOB’s Results

 

With the experience and expertise of our NAREOB Members, REO sellers receive top quality REO disposition services nationwide. The results include:

 

1. Decisions made with greater confidence based on accurate, timely and relevant information.

2. Improved profitability.

3. Expedited closings.

4. Maximized asset recovery.

 

Face the challenges of today's Real Estate Market with a NAREOB Broker on your side. Begin by calling the Association or contacting a participating NAREOB Broker.