Talk:Real estate owned

From Wikipedia, the free encyclopedia
Jump to: navigation, search
WikiProject Business (Rated Start-class, Low-importance)
WikiProject icon This article is within the scope of WikiProject Business, a collaborative effort to improve the coverage of business articles on Wikipedia. If you would like to participate, please visit the project page, where you can join the discussion and see a list of open tasks.
Start-Class article Start  This article has been rated as Start-Class on the project's quality scale.
 Low  This article has been rated as Low-importance on the project's importance scale.
 

August 2007[edit]

The words "bank", "savings and loan", "financial institution" and "thrift" should all be associated with the term "REO or Real Estate Owned". It is a GAAP accounting term used in financial statements for lending institutions. There are specific requirements for how these properties are listed on a bank's balance sheet. This has also become a generic term for any property acquired by foreclosure. The trade assocation REOMAC ("REO Managers Association") was founded in 1984 to represent bank employees whose primary job is to dispose of such properties. Website is REOMAC.com 76.30.19.185 16:57, 4 August 2007 (UTC) Craig Wolfe, REOMAC Charter President and Founding Director 1984-1985

Just a quick note to say that, whatever its deficiencies, this article is still informative and useful 82.46.67.74 (talk) 10:49, 7 May 2008 (UTC)

error in article[edit]

Regarding the last sentence of the second paragraph, shouldn't the word 'now' be used instead of 'not'? (ie..the property now becomes an REO.) —Preceding unsigned comment added by 173.162.106.202 (talk) 13:36, 23 September 2010 (UTC)