[Effective Demand]

Altisource is a front end for one of the asset management companies. In my area at least I havent seen a home that was listed on their site that wasnt on the MLS (or soon to be on the MLS). I know many houses that have sold through the MLS that were on that site as well. IMHO it just looks like it is cutting down the steps for bid submission to make the process more effecient. The majority of homes I have seen across the whole state come through one broker (Judd I believe his name was) and all bids are directed to the website.

I dont think its an auction as much as your standard REO listing with a electronic bid submission interface.

[Effective Demand]

Altisource is a front end for one of the asset management companies. In my area at least I havent seen a home that was listed on their site that wasnt on the MLS (or soon to be on the MLS). I know many houses that have sold through the MLS that were on that site as well. IMHO it just looks like it is cutting down the steps for bid submission to make the process more effecient. The majority of homes I have seen across the whole state come through one broker (Judd I believe his name was) and all bids are directed to the website.

I dont think its an auction as much as your standard REO listing with a electronic bid submission interface.

[Effective Demand]

Altisource is a front end for one of the asset management companies. In my area at least I havent seen a home that was listed on their site that wasnt on the MLS (or soon to be on the MLS). I know many houses that have sold through the MLS that were on that site as well. IMHO it just looks like it is cutting down the steps for bid submission to make the process more effecient. The majority of homes I have seen across the whole state come through one broker (Judd I believe his name was) and all bids are directed to the website.

I dont think its an auction as much as your standard REO listing with a electronic bid submission interface.

[Effective Demand]

Altisource is a front end for one of the asset management companies. In my area at least I havent seen a home that was listed on their site that wasnt on the MLS (or soon to be on the MLS). I know many houses that have sold through the MLS that were on that site as well. IMHO it just looks like it is cutting down the steps for bid submission to make the process more effecient. The majority of homes I have seen across the whole state come through one broker (Judd I believe his name was) and all bids are directed to the website.

I dont think its an auction as much as your standard REO listing with a electronic bid submission interface.

[Effective Demand]

Altisource is a front end for one of the asset management companies. In my area at least I havent seen a home that was listed on their site that wasnt on the MLS (or soon to be on the MLS). I know many houses that have sold through the MLS that were on that site as well. IMHO it just looks like it is cutting down the steps for bid submission to make the process more effecient. The majority of homes I have seen across the whole state come through one broker (Judd I believe his name was) and all bids are directed to the website.

I dont think its an auction as much as your standard REO listing with a electronic bid submission interface.

[Effective Demand]

[quote=HLS]
********************
Effective April 1, 2010 we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change.
*********************
This has been a condition for savings/money market/cash withdrawls in the past, but NEVER on a checking account.

WHY would they have this warning ?
WHO allows that they only have to disclose this on ONE statement over the past year.

[/quote]

It’s an accounting thing, if they do this they get to say they have higher reserve level because they can technically have access to all of their checking accounts funds for seven days and that changes how you calculate your reserves. The technical term is they are reclassifying their Demand Deposit Accounts to NOW (“Negotiable Order of Withdrawal”) accounts.

This would actually allow them to leverage up and make more loans and extend more credit.

It isn’t nearly as sinister and a warning from the market as some here are making it out to be.

[Effective Demand]

[quote=HLS]
********************
Effective April 1, 2010 we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change.
*********************
This has been a condition for savings/money market/cash withdrawls in the past, but NEVER on a checking account.

WHY would they have this warning ?
WHO allows that they only have to disclose this on ONE statement over the past year.

[/quote]

It’s an accounting thing, if they do this they get to say they have higher reserve level because they can technically have access to all of their checking accounts funds for seven days and that changes how you calculate your reserves. The technical term is they are reclassifying their Demand Deposit Accounts to NOW (“Negotiable Order of Withdrawal”) accounts.

This would actually allow them to leverage up and make more loans and extend more credit.

It isn’t nearly as sinister and a warning from the market as some here are making it out to be.

[Effective Demand]

[quote=HLS]
********************
Effective April 1, 2010 we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change.
*********************
This has been a condition for savings/money market/cash withdrawls in the past, but NEVER on a checking account.

WHY would they have this warning ?
WHO allows that they only have to disclose this on ONE statement over the past year.

[/quote]

It’s an accounting thing, if they do this they get to say they have higher reserve level because they can technically have access to all of their checking accounts funds for seven days and that changes how you calculate your reserves. The technical term is they are reclassifying their Demand Deposit Accounts to NOW (“Negotiable Order of Withdrawal”) accounts.

This would actually allow them to leverage up and make more loans and extend more credit.

It isn’t nearly as sinister and a warning from the market as some here are making it out to be.

[Effective Demand]

[quote=HLS]
********************
Effective April 1, 2010 we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change.
*********************
This has been a condition for savings/money market/cash withdrawls in the past, but NEVER on a checking account.

WHY would they have this warning ?
WHO allows that they only have to disclose this on ONE statement over the past year.

[/quote]

It’s an accounting thing, if they do this they get to say they have higher reserve level because they can technically have access to all of their checking accounts funds for seven days and that changes how you calculate your reserves. The technical term is they are reclassifying their Demand Deposit Accounts to NOW (“Negotiable Order of Withdrawal”) accounts.

This would actually allow them to leverage up and make more loans and extend more credit.

It isn’t nearly as sinister and a warning from the market as some here are making it out to be.

[Effective Demand]

[quote=HLS]
********************
Effective April 1, 2010 we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change.
*********************
This has been a condition for savings/money market/cash withdrawls in the past, but NEVER on a checking account.

WHY would they have this warning ?
WHO allows that they only have to disclose this on ONE statement over the past year.

[/quote]

It’s an accounting thing, if they do this they get to say they have higher reserve level because they can technically have access to all of their checking accounts funds for seven days and that changes how you calculate your reserves. The technical term is they are reclassifying their Demand Deposit Accounts to NOW (“Negotiable Order of Withdrawal”) accounts.

This would actually allow them to leverage up and make more loans and extend more credit.

It isn’t nearly as sinister and a warning from the market as some here are making it out to be.

[Effective Demand]

I’d check the recorders office, see if a cancellation has been processed, modified deed of trust, deed in lieu, or some other clue as to the disposition of the sale:

http://arcc.co.san-diego.ca.us/services/grantorgrantee/search.aspx

If that doesnt work, You can also PM me some search info and I can see if foreclosureradar has any additional clues.

It could be something as simple as the trustee has changed and the new trustee doesn’t use priority posting or fidelityasap but some other platform.

My LL NTS has never been rescinded but a Modified Deed of Trust was filed. In situations like that it can be several months before the modified deed is recorded (I’ve seen as long as six) so it can be frustrating not knowing what is going.

[Effective Demand]

I’d check the recorders office, see if a cancellation has been processed, modified deed of trust, deed in lieu, or some other clue as to the disposition of the sale:

http://arcc.co.san-diego.ca.us/services/grantorgrantee/search.aspx

If that doesnt work, You can also PM me some search info and I can see if foreclosureradar has any additional clues.

It could be something as simple as the trustee has changed and the new trustee doesn’t use priority posting or fidelityasap but some other platform.

My LL NTS has never been rescinded but a Modified Deed of Trust was filed. In situations like that it can be several months before the modified deed is recorded (I’ve seen as long as six) so it can be frustrating not knowing what is going.

[Effective Demand]

I’d check the recorders office, see if a cancellation has been processed, modified deed of trust, deed in lieu, or some other clue as to the disposition of the sale:

http://arcc.co.san-diego.ca.us/services/grantorgrantee/search.aspx

If that doesnt work, You can also PM me some search info and I can see if foreclosureradar has any additional clues.

It could be something as simple as the trustee has changed and the new trustee doesn’t use priority posting or fidelityasap but some other platform.

My LL NTS has never been rescinded but a Modified Deed of Trust was filed. In situations like that it can be several months before the modified deed is recorded (I’ve seen as long as six) so it can be frustrating not knowing what is going.

[Effective Demand]

I’d check the recorders office, see if a cancellation has been processed, modified deed of trust, deed in lieu, or some other clue as to the disposition of the sale:

http://arcc.co.san-diego.ca.us/services/grantorgrantee/search.aspx

If that doesnt work, You can also PM me some search info and I can see if foreclosureradar has any additional clues.

It could be something as simple as the trustee has changed and the new trustee doesn’t use priority posting or fidelityasap but some other platform.

My LL NTS has never been rescinded but a Modified Deed of Trust was filed. In situations like that it can be several months before the modified deed is recorded (I’ve seen as long as six) so it can be frustrating not knowing what is going.

[Effective Demand]

I’d check the recorders office, see if a cancellation has been processed, modified deed of trust, deed in lieu, or some other clue as to the disposition of the sale:

http://arcc.co.san-diego.ca.us/services/grantorgrantee/search.aspx

If that doesnt work, You can also PM me some search info and I can see if foreclosureradar has any additional clues.

It could be something as simple as the trustee has changed and the new trustee doesn’t use priority posting or fidelityasap but some other platform.

My LL NTS has never been rescinded but a Modified Deed of Trust was filed. In situations like that it can be several months before the modified deed is recorded (I’ve seen as long as six) so it can be frustrating not knowing what is going.

[Author]

Posts