Currently 41.6% of all Real Estate sold nationwide is distressed (REO or Short Sale). Currently the nations largest financial institutions (4 of the top 5) including government entities, use REO Prep approved Agents to facilitate with the sale of both REO and Short Sale listings . In addition to nation wide banks, REO Prep provides qualified listing agents for multiple affiliated asset management companies. Over 23,000 foreclosure listings, short sale listings, and or loan modifications are assigned through REO Prep each month.

If you're looking to gain additional Listings:


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Short sales priced aggressively- Efforts to streamline the often-lengthy short sale approval process appear to finally be paying off, with the average time to sell a pre-foreclosure property edging lower than previous quarter. Among properties actively in the foreclosure process but not yet bank owned, 53 percent had been owned by the current owner between five and 10 years, while 19 percent had been owned between 10 and 15 years, 16 percent had been owned more than 15 years, and 12 percent had been owned five years or fewer.

Foreclosure filings- U.S. REO activity increased 4 percent from the previous month but was still down 39 percent from a year ago - the 13th consecutive month where U.S. REOs have decreased annually. REO activity decreased from a year ago in 41 states, but 25 states posted an increase in REO activity from the previous month, including Texas (57 percent increase), Arizona (39 percent increase), Virginia (37 percent increase), Nevada (30 percent increase), and Michigan (27 percent increase). Lenders with the most inventory of bank-owned (REO) properties - based on the name of the beneficiary listed on the foreclosure documents - were the government-backed entities of Fannie Mae, Freddie Mac and the U.S. Department of Housing and Urban Development (HUD), with a combined 41 percent of all REO inventory. Other top beneficiaries were Bank of America (11 percent of all active REO inventory), Wells Fargo (11 percent of all REO inventory), Chase (8 percent), US BankCorp (7 percent), Deutsche Bank (5 percent), and CitiGroup (4 percent).

If you are also looking to increase your short sale volume please remember to select the short sale acceptance designation located at the top of your certified profile.
REO Prep is your direct connection to receiving more listings, BPO's, and approved short sales. Become an approved member in just minutes.

Please select the type of account you would like to create. REO Prep will only accept qualified members.

Do You Want More Listings?

Once you are part of the marketplace, all lenders have to do is click a button to assign you listings.

REO Prep maintains a membership that the Lenders continue to trust. Many companies are trying to sell you Lists of companies where you attempt to become one of their foreclosure listing agents. Many companies are charging you a large fee for these lists. Have you noticed that the banks do not call you?

At REO Prep you are charged a nominal monthly fee that is month to month to keep you educated. The Lenders know REO Prep members are highly qualified, updated on a regular basis and ready to perform quickly in high volume situations.

If you are an agent that provides more than one service mentioned above, REO Prep encourages you to join more than one membership. In some cases you may not have been assigned a listing for a specific zip code however you may have the option to perform a BPO.

REO Prep also encourages you to expand your working area to multiple zip codes. At REO Prep we encourage the lenders to work with the highest qualified agent in the areas however we do provide multiple choices.