Real Estate Owned means Real Property that secured a Note Receivable and was acquired by Borrower in connection with a foreclosure, deed-in-lieu of foreclosure or other similar process in which Borrower took legal title to such Real Property following a default under such Note Receivable.
Real Estate Owned means the consolidated properties of the Company acquired by foreclosure on a loan or deed-in-lieu thereof or otherwise included in the Company's real estate owned for purposes of reporting asset quality of the Company in its reports filed with the Commission under the Exchange Act.
Real Estate Owned has the meaning assigned to such term in Section 4.15.
Examples of Real Estate Owned in a sentence
REO flag VARCHAR2(7) Y=Active REO N=No active REO Servicer defined indicator that identifies that the property is now Real Estate Owned.
Credit Application: For the Credit Application, AMC verified that the application: (i) was signed by all listed borrowers, (ii) was substantially filled out, (iii) contained all known borrower-owned properties on the Real Estate Owned section 2, and (iv) included the borrower’s employment history.
AHFA will select 1 Non-AHFA Project for inspection based on the AHFA Schedule of Real Estate Owned submitted by the applicant.
Note 3: When property is acquired (Real Estate Owned), any excess of the carrying value of loan over the net realizable value of property is charged against the allowance for loan losses.
The NYC HDC Real Estate Owned Corporation (“REO Subsidiary Corporation”) was established under Section 654-a of the Act on September 20, 2004.
More Definitions of Real Estate Owned
Real Estate Owned included in any nonperforming assets of NSB or any NSB Subsidiary is carried net of reserves at the lower of cost or market value based on current independent appraisals or current management appraisals.
Real Estate Owned. (REO) means property taken by the lender as the final step in the foreclosure process. The property ownership has been conveyed back to the lender.
Real Estate Owned means all real estate or loans secured by real estate that are classified or would be classified as: “loans to facilitate;” “real estate owned;” “in-substance foreclosure;” “in-substance repossession;” foreclosed real estate; real estate held for investment; real estate acquisition, or construction arrangements that are accounted for as investments in real estate; real estate that is held for sale (or that is intended to be sold within two years); property formerly but no longer used for the operations of the Bank; property originally acquired for future expansion but that is no longer intended to be used for that purpose; real estate acquired in any manner for debts previously contracted (even if the Bank has not yet received title to the property); real estate sold when (i) less than ten percent of the total sales price is in cash, (ii) there is financing by the Bank of all or a portion of the sales price on terms more favorable than those customarily required by the Bank when it is involved only as a lender, or (iii) the transaction does not transfer from the Bank to the purchaser the usual risks and all or most of the rewards of ownership; receivables resulting from sales of other real estate owned accounted for under the installment, cost recovery, reduced profit, or percentage-of-completion method of accounting in accordance with FASB Statement No. 66, “Accounting for Sales of Real Estate,” when the Investor’s initial investment is less than ten percent of the sales value of the real estate sold; other real estate owned sold under contract and accounted for under the deposit method of accounting in accordance with FASB Statement No. 66; and any other similar category of loan or real estate.
Real Estate Owned means all real property acquired through foreclosure or deed in lieu of foreclosure.
Real Estate Owned means any property acquired in the conduct of First Chester’s or any First Chester Subsidiary’s mortgage servicing activities as a result of foreclosure or any of the method of satisfaction of indebtedness (whether for First Chester’s or a First Chester Subsidiary’s own account or on behalf of an Investor or Insurer).
Real Estate Owned means any property acquired in the conduct of BCSB’s or any BCSB Subsidiary’s mortgage servicing activities as a result of foreclosure or any of the methods of satisfaction of indebtedness (whether for BCSB’s or a BCSB Subsidiary’s own account or on behalf of an Investor or Insurer).
Real Estate Owned means real property acquired by Seller before the Closing Date by foreclosure or other means, and which is being sold by Seller and purchased by Buyer pursuant to this Agreement, as identified in the Master Asset Transfer Schedule attached to a Purchase Commitment/Settlement, including without limitation the following: (a) any and all easements, appurtenances, covenants and other rights related to such Real Estate Owned; (b) any and all fixtures, equipment and other personal property which at the Closing Date are placed in or attached to such real property, to the extent transferable and not owned or leased by tenants or other occupants of such real property which are not Affiliates or Representatives of Seller; (c) all causes of action, lawsuits, judgments, Claims and demands of any nature available to or being pursued by or for the benefit of Seller or its Affiliates with respect to the Real Estate Owned or the ownership, use, function, value of or other rights pertaining thereto, whether arising by way of counterclaim or otherwise; provided, however, that the Real Estate Owned does not include any Seller Retained Liabilities, (d) all leases and licenses and other related or similar agreements; (e) all income, payments, proceeds and other benefits of any and all of the foregoing, including but not limited to, all accounts, cash and currency, chattel paper, electronic chattel paper, tangible chattel paper, copyrights, copyright licenses, equipment, fixtures, general intangibles, instruments, Residential tort claims, deposit accounts, inventory, investment property, letter of credit rights, software, supporting obligations, accessions, and other property consisting of, arising out of, or related to the foregoing; and (f) all REO Files.