Real Estate Owned Stocks List
Related Industries: Banks - Regional - US Business Services REIT - Diversified
Symbol | Grade | Name | Weight | |
---|---|---|---|---|
MORT | B | Market Vectors Mortgage REIT Income ETF | 9.81 | |
REM | B | iShares Mortgage Real Estate Capped ETF | 9.8 | |
MVRL | B | ETRACS Monthly Pay 1.5X Leveraged Mortgage REIT ETN | 8.19 | |
DDIV | A | First Trust Dorsey Wright Momentum & Dividend ETF | 5.55 | |
IAT | A | iShares U.S. Regional Banks ETF | 4.46 |
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- Real Estate Owned
Real estate owned, or REO, is a term used in the United States to describe a class of property owned by a lender—typically a bank, government agency, or government loan insurer—after an unsuccessful sale at a foreclosure auction. A foreclosing beneficiary will typically set the opening bid at a foreclosure auction for at least the outstanding loan amount. If there are no bidders that are interested, then the beneficiary will legally repossess the property. This is commonly the case when the amount owed on the home is higher than the current market value of the foreclosure property, such as with a mortgage loan made at a high loan-to-value during a real estate bubble. As soon as the beneficiary repossesses the property it is listed on their books as REO and categorized as an asset. (See non-performing asset).
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