REO definition

REO. A Mortgaged Property that is acquired by the Trust in a foreclosure or by grant of deed in lieu of foreclosure.

REO means a Mortgaged Property that is acquired by the Trust in foreclosure or by deed in lieu of foreclosure.

REO means real estate owned, as the term is commonly understood in the mortgage industry.

Examples of REO in a sentence

• With respect to each REO Property related to a Non-Agency Mortgage Loan, the Servicer shall segregate and hold all funds collected and received in connection with the operation of the REO Property in the Custodial Account.

• The proceeds of sale of such REO Property shall be promptly deposited in the Custodial Account pursuant to the terms of this Agreement but not later than the second Business Day following receipt thereof.

• Upon approval by Owner, the Servicer shall manage, conserve, protect and operate each REO Property related to a Non-Agency Mortgage Loan for the Owner either for the purpose of its prompt disposition and sale or its rental.

• The Servicer shall cause to be deposited on a daily basis in each Custodial Account all revenues received by Servicer (such revenues being those received by Servicer within two Business Days prior to actual deposit into the Escrow Account) with respect to the conservation and disposition of the related REO Property.

• The Servicer shall provide the Owner on a monthly basis with a report on the status of each REO Property related to a Non-Agency Mortgage Loan.

More Definitions of REO

REO means real estate owned.

REO means any residential real property owned by Seller, any of its Affiliates or an Investor (whether for its own account or on behalf of an Investor), as a result of an actual completion of foreclosure proceedings or other acquisition of title with respect to a Mortgage Loan.

REO means any property owned by the Company acquired in the conduct of its servicing business as a result of foreclosure or any other method in satisfaction of indebtedness (whether for its own account or on behalf of an Investor or Insurer).

REO. A Mortgaged Property acquired by the Servicer or any sub-servicer on behalf of the Trust through foreclosure or deed-in-lieu of foreclosure in connection with a defaulted Mortgage Loan.

REO means real estate owned property.

REO means Loans as to which the real estate collateral has been foreclosed upon and is owned by the Trust.

REO means real estate owned by the LLC (and may also refer to other real property taken back by a lender) through a foreclosure, deed in lieu of foreclosure, or other means.