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Frank Patrick, Property Preservation and Trash Out Specialist, recently wrote about the tough time that REO professionals experienced at the end of 2010, and how 2011 could be much better.

Scottsdale, Ariz. – January 11, 2011 – Frank Patrick, foreclosure trash-out and reo specialist, recently wrote a blog discussing how the recent robo-signing scandal caused delays for those looking to buy REO Homes.  “Foreclosures have been delayed because of the “robo-signing” scandal in which legal filings were processed by lending servicing companies without the necessary care or proper paperwork.   That put a damper on those wanting to buy REO homes, as they had no choice but to be concerned whether the foreclosures in question might be overturned,” writes Frank Patrick.

In the blog published on http://www.ASREOS.com, called “ASREOS Blog: Looking Forward To 2011,” Frank explains, “The end of this temporary REO slowdown is near. Elizabeth Duke, Governor of the Federal Reserve, is projecting over two million more foreclosures both for 2011 and for 2012.  That means that, one way or the other, the foreclosure delays will have to be dealt with – and done away with.”

“Common sense dictates that the roadblocks will have to be removed soon – letting loose a new giant wave of REO activity that will be swamping us all.   So rest up now, all you REO pros, and get ready for a new year with a whole new start,” wrote Frank.  “Both veteran and newbie REO professionals will find a lot of value at ASREOS (the American Society of REO Specialists), including important inside info on how to get REO listings and how to become a top-producing REO agent.”

The entire article can be found at http://www.asreos.com/blog/asreos-blog-looking-forward-to-2011.php

Frank Patrick is the founder of The American Society of REO Specialists, or ASREOS.  ASREOS is a national trade association founded in 2008 to assist ASREOS members in making contact with banks, lenders, asset management companies and property preservation companies that need competent REO professionals to service their REO properties.  ASREOS also enables members to network in a professional and supportive environment and offers ongoing dynamic, cutting-edge REO resources to help members grow their business and their own personal performance in the REO marketplace.  ASREOS also provides a comprehensive directory of REO professionals for banks, lenders, asset management companies and property preservation companies.

The online home of ASREOS (http://www.asreos.com), the American Society of REO Specialists, is growing in leaps and bounds to help REO professionals gain a competitive edge and get access to these lucrative listings.  ASREOS is the first REO trade association founded by REO experts, and it features advice from top REO agents, access to an exclusive database of over 130 REO sellers, and profiles of its members in an online searchable directory of REO vendors that banks, lenders and asset managers can utilize when looking for local agents to list and sell their REO properties.  Find out more at www.ASREOS.com.

About Frank Patrick:

Frank Patrick began his real estate career in 2000 after a 12-year stint in corporate America as a sales manager.  As a new real estate agent Frank knew that he wanted to find a niche within the real estate industry.  After months of research Frank decided to specialize in REO, an acronym for bank owned foreclosed homes.  Frank quickly became one of the top REO agents in the nation averaging over 100 transactions per year for the last 8 years.  In 2007 Frank’s production soared to over 214 sales.

In 2004 Frank and his brother Scott Patrick started a property preservation company to offer maintenance and repair services to banks with foreclosed homes.  Frank’s solid understanding of the REO industry and Scott’s 20+ years in the construction business was a recipe for success.  This year their property preservation business is on track to gross over one million dollars in revenue.  Today Frank manages his REO Real Estate Brokerage, REO Renegades an REO agent training business, his trade association The American Society of REO Specialists and is developing a national Franchise Property Preservation company, REO ResQ.

For more information please visit http://www.ASREOS.com

Frank Patrick, Property Preservation and REO Specialist, recently discussed the 2011 REO projections revealed to congress by the Federal Reserve Governor.

Scottsdale, Ariz. – January 7, 2011 – Frank Patrick, foreclosure trash-out and reo specialist, recently wrote an article explaining the recent report by the Federal Reserve that laid out it’s 2011 predictions for foreclosure filings.  The report stated that the Federal Reserve expects approximately 4.25 million more foreclosure filings in the next two years, with two million plus expected in 2011 as well as in 2012, similar to the record amount of foreclosures that occurred during this year.

In the article published on http://www.ASREOS.com, called “REO Listings: 2011 Foreclosure Forecast Predicts Two Million More REOs,” Frank explains, “The pace of both foreclosures and REO sales has slowed in the final quarter of 2010, due to uncertainty over lenders’ problematic processing of foreclosures.  REO buyers have been reluctant to invest in distressed properties until these legal troubles have been resolved.”

“A current REO inventory of around two million homes as well as the more than four million that are expected to come through the pipeline in the months to come, there is little doubt that 2011 will see a renewed boom both in foreclosures and in REO sales, due to continuing economic pressures – as experts see little chance of a housing recovery unless REO properties are promptly processed and sold,” Frank continued.

The entire article can be found at http://www.asreos.com/articles/reo-listings-2011-foreclosure-forecast-predicts-two-million-more-reos.php

Frank Patrick is the founder of The American Society of REO Specialists, or ASREOS.  ASREOS is a national trade association founded in 2008 to assist ASREOS members in making contact with banks, lenders, asset management companies and property preservation companies that need competent REO professionals to service their REO properties.  ASREOS also enables members to network in a professional and supportive environment and offers ongoing dynamic, cutting-edge REO resources to help members grow their business and their own personal performance in the REO marketplace.  ASREOS also provides a comprehensive directory of REO professionals for banks, lenders, asset management companies and property preservation companies.

The online home of ASREOS (http://www.asreos.com), the American Society of REO Specialists, is growing in leaps and bounds to help REO professionals gain a competitive edge and get access to these lucrative listings.  ASREOS is the first REO trade association founded by REO experts, and it features advice from top REO agents, access to an exclusive database of over 130 REO sellers, and profiles of its members in an online searchable directory of REO vendors that banks, lenders and asset managers can utilize when looking for local agents to list and sell their REO properties.  Find out more at www.ASREOS.com.

About Frank Patrick:

Frank Patrick began his real estate career in 2000 after a 12-year stint in corporate America as a sales manager.  As a new real estate agent Frank knew that he wanted to find a niche within the real estate industry.  After months of research Frank decided to specialize in REO, an acronym for bank owned foreclosed homes.  Frank quickly became one of the top REO agents in the nation averaging over 100 transactions per year for the last 8 years.  In 2007 Frank’s production soared to over 214 sales.

In 2004 Frank and his brother Scott Patrick started a property preservation company to offer maintenance and repair services to banks with foreclosed homes.  Frank’s solid understanding of the REO industry and Scott’s 20+ years in the construction business was a recipe for success.  This year their property preservation business is on track to gross over one million dollars in revenue.  Today Frank manages his REO Real Estate Brokerage, REO Renegades an REO agent training business, his trade association The American Society of REO Specialists and is developing a national Franchise Property Preservation company, REO ResQ.

For more information please visit http://www.ASREOS.com

Frank Patrick, Property Preservation and Trash Out Specialist, recently discussed how the REO industry is currently one of the few growth opportunities in America.

Scottsdale, Ariz. – December 6, 2010 – Frank Patrick, foreclosure trash-out and reo specialist, recently wrote a blog discussing why training to become an REO agent is still an amazing opportunity for anyone needing a new career.  “There are so many REO listings that need to be handled, and there are going to be so many more in the coming months that REO agents and brokers are going to continuously be in high demand,” writes Frank Patrick.

In the blog published on http://www.ASREOS.com, called “The REO Inventory Grows – And So Does The Business Opportunity,” Frank explains, “The trick is REO sellers want people who know what they’re doing. And that’s why I founded ASREOS (the American Society of REO Specialists) a few years ago.  With over ten years of experience as a top national REO agent and coach, I wanted to put together the first REO professional association run by people who knew the REO business inside out.”

The entire article can be found at http://www.asreos.com/blog/asreos-blog-the-reo-inventory-grows-and-so-does-the-business-opportunity.php

Frank Patrick is the founder of The American Society of REO Specialists, or ASREOS.  ASREOS is a national trade association founded in 2008 to assist ASREOS members in making contact with banks, lenders, asset management companies and property preservation companies that need competent REO professionals to service their REO properties.  ASREOS also enables members to network in a professional and supportive environment and offers ongoing dynamic, cutting-edge REO resources to help members grow their business and their own personal performance in the REO marketplace.  ASREOS also provides a comprehensive directory of REO professionals for banks, lenders, asset management companies and property preservation companies.

The online home of ASREOS (http://www.asreos.com), the American Society of REO Specialists, is growing in leaps and bounds to help REO professionals gain a competitive edge and get access to these lucrative listings.  ASREOS is the first REO trade association founded by REO experts, and it features advice from top REO agents, access to an exclusive database of over 130 REO sellers, and profiles of its members in an online searchable directory of REO vendors that banks, lenders and asset managers can utilize when looking for local agents to list and sell their REO properties.  Find out more at www.ASREOS.com.

About Frank Patrick:

Frank Patrick began his real estate career in 2000 after a 12-year stint in corporate America as a sales manager.  As a new real estate agent Frank knew that he wanted to find a niche within the real estate industry.  After months of research Frank decided to specialize in REO, an acronym for bank owned foreclosed homes.  Frank quickly became one of the top REO agents in the nation averaging over 100 transactions per year for the last 8 years.  In 2007 Frank’s production soared to over 214 sales.

In 2004 Frank and his brother Scott Patrick started a property preservation company to offer maintenance and repair services to banks with foreclosed homes.  Frank’s solid understanding of the REO industry and Scott’s 20+ years in the construction business was a recipe for success.  This year their property preservation business is on track to gross over one million dollars in revenue.  Today Frank manages his REO Real Estate Brokerage, REO Renegades an REO agent training business, his trade association The American Society of REO Specialists and is developing a national Franchise Property Preservation company, REO ResQ.

For more information please visit http://www.ASREOS.com

Frank Patrick, Property Preservation and REO Specialist, recently discussed how foreclosure actions are up sharply in cities across America and how it will take months to clear the current inventory.

Scottsdale, Ariz. – December 1, 2010 – Frank Patrick, foreclosure trash-out and reo specialist, recently wrote an article discussing how a huge amount of REO homes are still held by lenders. With an estimated 7.5 million REO homes yet to be listed, it will take some time for major banks to liquidate these properties.

In the article published on http://www.ASREOS.com, called “REO Listings: Current REO Inventory Will Take 40 Months To Clear,” Frank explains, “Currently, it takes roughly 18 months for an REO home to be processed and resold, from the date of the last mortgage payment. These numbers all but guarantee that REO listings will continue to account for a huge chunk of all real estate sales for at least the next three to four years.”

“A new spike in foreclosures will also add considerably to the overall REO inventory.  Ongoing foreclosure actions are beginning to experience big jumps in other areas across America.  While most of the attention has gone to Florida, California, Nevada and Arizona – the ‘big four’ which have experienced the biggest surge in REO properties over the past few years – other cities and states are suddenly seeing dramatic increases,” Frank continued.

The entire article can be found at http://www.asreos.com/articles/reo-listings-current-reo-inventory-will-take-40-months-to-clear.php

Frank Patrick is the founder of The American Society of REO Specialists, or ASREOS.  ASREOS is a national trade association founded in 2008 to assist ASREOS members in making contact with banks, lenders, asset management companies and property preservation companies that need competent REO professionals to service their REO properties.  ASREOS also enables members to network in a professional and supportive environment and offers ongoing dynamic, cutting-edge REO resources to help members grow their business and their own personal performance in the REO marketplace.  ASREOS also provides a comprehensive directory of REO professionals for banks, lenders, asset management companies and property preservation companies.

The online home of ASREOS (http://www.asreos.com), the American Society of REO Specialists, is growing in leaps and bounds to help REO professionals gain a competitive edge and get access to these lucrative listings.  ASREOS is the first REO trade association founded by REO experts, and it features advice from top REO agents, access to an exclusive database of over 130 REO sellers, and profiles of its members in an online searchable directory of REO vendors that banks, lenders and asset managers can utilize when looking for local agents to list and sell their REO properties.  Find out more at www.ASREOS.com.

About Frank Patrick:

Frank Patrick began his real estate career in 2000 after a 12-year stint in corporate America as a sales manager.  As a new real estate agent Frank knew that he wanted to find a niche within the real estate industry.  After months of research Frank decided to specialize in REO, an acronym for bank owned foreclosed homes.  Frank quickly became one of the top REO agents in the nation averaging over 100 transactions per year for the last 8 years.  In 2007 Frank’s production soared to over 214 sales.

In 2004 Frank and his brother Scott Patrick started a property preservation company to offer maintenance and repair services to banks with foreclosed homes.  Frank’s solid understanding of the REO industry and Scott’s 20+ years in the construction business was a recipe for success.  This year their property preservation business is on track to gross over one million dollars in revenue.  Today Frank manages his REO Real Estate Brokerage, REO Renegades an REO agent training business, his trade association The American Society of REO Specialists and is developing a national Franchise Property Preservation company, REO ResQ.

For more information please visit http://www.ASREOS.com

Frank Patrick, Property Preservation and Trash Out Specialist, recently discussed how economic experts are decrying the push to freeze foreclosures, claiming that it will damper the housing recovery

Scottsdale, Ariz. – November 8, 2010 – Frank Patrick, foreclosure trash-out and reo specialist, recently wrote an article discussing how REO sales have become an increasingly important sector of the real estate market, especially in states that have been hardest hit by the housing crisis, and how any attempt to slow down the foreclosure process could imperil the beginnings of a fragile housing recovery.

In the article published on http://www.ASREOS.com, called “REO Listings: Stopping Foreclosures Will Threaten Housing Recovery.” Frank explains, “Some numbers in August pointed to the possible start of such a recovery; sales of previously-owned homes increased for the second month in a row.  Now, because of some paperwork irregularities by overwhelmed REO sellers and election-year posturing, some legislators have called for a halt to all foreclosures.”

“Economists and real estate experts are mostly in agreement on what the effect of that action would be,” Frank writes.  Mortgage consultant Mark Hanson says, “It will have an immediate negative impact on house sales volume, house prices, private label MBS investors, bank earnings, mortgage servicing values, and much more.”

Frank later writes, “Fortunately, there is already a huge inventory of REO listings of over half a million REO homes that already need to be sold.    And no matter what the outcome of the current foreclosure debate is, there is also no question that the pending foreclosures are inevitable and bound to keep an extremely active REO market booming.”

The entire article can be found at http://www.asreos.com/articles/reo-listings-stopping-foreclosures-will-threaten-housing-recovery.php

Frank Patrick is the founder of The American Society of REO Specialists, or ASREOS.  ASREOS is a national trade association founded in 2008 to assist ASREOS members in making contact with banks, lenders, asset management companies and property preservation companies that need competent REO professionals to service their REO properties.  ASREOS also enables members to network in a professional and supportive environment and offers ongoing dynamic, cutting-edge REO resources to help members grow their business and their own personal performance in the REO marketplace.  ASREOS also provides a comprehensive directory of REO professionals for banks, lenders, asset management companies and property preservation companies.

The online home of ASREOS (http://www.asreos.com), the American Society of REO Specialists, is growing in leaps and bounds to help REO professionals gain a competitive edge and get access to these lucrative listings.  ASREOS is the first REO trade association founded by REO experts, and it features advice from top REO agents, access to an exclusive database of over 130 REO sellers, and profiles of its members in an online searchable directory of REO vendors that banks, lenders and asset managers can utilize when looking for local agents to list and sell their REO properties.  Find out more at www.ASREOS.com.

About Frank Patrick:

Frank Patrick began his real estate career in 2000 after a 12-year stint in corporate America as a sales manager.  As a new real estate agent Frank knew that he wanted to find a niche within the real estate industry.  After months of research Frank decided to specialize in REO, an acronym for bank owned foreclosed homes.  Frank quickly became one of the top REO agents in the nation averaging over 100 transactions per year for the last 8 years.  In 2007 Frank’s production soared to over 214 sales.

In 2004 Frank and his brother Scott Patrick started a property preservation company to offer maintenance and repair services to banks with foreclosed homes.  Frank’s solid understanding of the REO industry and Scott’s 20+ years in the construction business was a recipe for success.  This year their property preservation business is on track to gross over one million dollars in revenue.  Today Frank manages his REO Real Estate Brokerage, REO Renegades an REO agent training business, his trade association The American Society of REO Specialists and is developing a national Franchise Property Preservation company, REO ResQ.

For more information please visit http://www.ASREOS.com

Frank Patrick, Property Preservation and REO Specialist, recently discussed how the demand for qualified REO professionals to handle REO properties will continue to build.

Scottsdale, Ariz. – November 4, 2010 – Frank Patrick, foreclosure trash-out and reo specialist, recently wrote an article discussing how foreclosures now account for half of all home sales. More than 3000 real estate agents surveyed nationwide were asked what’s really going on with today’s housing market – and, according to them, distressed home sales, including REO properties, made up over 47% of the total market in September of this year, up from August.

In the article published on http://www.ASREOS.com, called “REO Listings: Foreclosures Account For Half of All Home Sales.”  Frank explains, “REO sales will continue to make up a large part of real estate activity as, despite recent controversies over how banks and mortgage lenders were handling foreclosures, a nationwide moratorium on them now seems out of the question.”

“There are also simply too many REO homes in the pipeline to ignore,” writes Frank Patrick.  “Three of the biggest banks, JPMorgan Chase, Wells Fargo and Bank of America, each reported they had more than $20 billion in single-family mortgages either already converted to REO properties or in foreclosure.  JPMorgan Chase has the largest volume of REO homes with $21.7 billion. It also has $43.4 billion in mortgages past due.   Bank of America has $20.3 billion in REOs, and $54.6 billion in past-due mortgages.  And there are billions more in REO properties out there with the smaller banks, such as Citibank with $6.3 billion in foreclosures and $19.2 billion in past-due mortgages.  With hundreds of billions of dollars worth of potential REO listings still to come, the demand for qualified REO professionals to handle those properties will continue to build,” Frank continued.

The entire article can be found at http://www.asreos.com/articles/reo-listings-foreclosures-account-for-half-of-all-home-sales.php

Frank Patrick is the founder of The American Society of REO Specialists, or ASREOS.  ASREOS is a national trade association founded in 2008 to assist ASREOS members in making contact with banks, lenders, asset management companies and property preservation companies that need competent REO professionals to service their REO properties.  ASREOS also enables members to network in a professional and supportive environment and offers ongoing dynamic, cutting-edge REO resources to help members grow their business and their own personal performance in the REO marketplace.  ASREOS also provides a comprehensive directory of REO professionals for banks, lenders, asset management companies and property preservation companies.

The online home of ASREOS (http://www.asreos.com), the American Society of REO Specialists, is growing in leaps and bounds to help REO professionals gain a competitive edge and get access to these lucrative listings.  ASREOS is the first REO trade association founded by REO experts, and it features advice from top REO agents, access to an exclusive database of over 130 REO sellers, and profiles of its members in an online searchable directory of REO vendors that banks, lenders and asset managers can utilize when looking for local agents to list and sell their REO properties.  Find out more at www.ASREOS.com.

About Frank Patrick:

Frank Patrick began his real estate career in 2000 after a 12-year stint in corporate America as a sales manager.  As a new real estate agent Frank knew that he wanted to find a niche within the real estate industry.  After months of research Frank decided to specialize in REO, an acronym for bank owned foreclosed homes.  Frank quickly became one of the top REO agents in the nation averaging over 100 transactions per year for the last 8 years.  In 2007 Frank’s production soared to over 214 sales.

In 2004 Frank and his brother Scott Patrick started a property preservation company to offer maintenance and repair services to banks with foreclosed homes.  Frank’s solid understanding of the REO industry and Scott’s 20+ years in the construction business was a recipe for success.  This year their property preservation business is on track to gross over one million dollars in revenue.  Today Frank manages his REO Real Estate Brokerage, REO Renegades an REO agent training business, his trade association The American Society of REO Specialists and is developing a national Franchise Property Preservation company, REO ResQ.

For more information please visit http://www.ASREOS.com

Frank Patrick, REO Foreclosure and Trash Out Specialist, recently discussed how August 2010 was the biggest month for bank REOs ever.

Scottsdale, Ariz. – October 22, 2010 – Frank Patrick, foreclosure trash-out and reo specialist, recently wrote an article discussing how bank foreclosures, instead of finally declining, are instead hitting new heights as we head into the final quarter of the year.

In the article published on http://www.ASREOS.com, called “REO Listings Update: REO Foreclosures Set Third Record In Last Five Months.” Frank writes, “J.P. Morgan Chase cited the ‘shadow inventory’ of foreclosed properties as a reason for the continued high REO home numbers – and as one of their primary reasons that they believe a housing recovery may not come until possibly 2014.  There already exists over a year’s supply of existing homes for sale, and the number of foreclosures will put even more pressure on real estate prices.”

Frank continues, “At least one in five homeowners owes more on their mortgage than their home is worth -  and more and more of those homeowners think it’s perfectly acceptable to walk away from that mortgage, according to a Pew Research Center survey.   That trend will continue to increase as home prices continue to decrease.”

“All these facts clearly add up to an ever-increasing REO property inventory for all the major banks and lending institutions in the foreseeable future, meaning the demand for REO agents and brokers will still be growing in the next few years,” concluded Frank.

The entire article can be found at http://www.asreos.com/articles/reo-listings-update-reo-foreclosures-set-third-record-in-last-five-months.php

Frank Patrick is the founder of The American Society of REO Specialists, or ASREOS.  ASREOS is a national trade association founded in 2008 to assist ASREOS members in making contact with banks, lenders, asset management companies and property preservation companies that need competent REO professionals to service their REO properties.  ASREOS also enables members to network in a professional and supportive environment and offers ongoing dynamic, cutting-edge REO resources to help members grow their business and their own personal performance in the REO marketplace.  ASREOS also provides a comprehensive directory of REO professionals for banks, lenders, asset management companies and property preservation companies.

The online home of ASREOS (http://www.asreos.com), the American Society of REO Specialists, is growing in leaps and bounds to help REO professionals gain a competitive edge and get access to these lucrative listings.  ASREOS is the first REO trade association founded by REO experts, and it features advice from top REO agents, access to an exclusive database of over 130 REO sellers, and profiles of its members in an online searchable directory of REO vendors that banks, lenders and asset managers can utilize when looking for local agents to list and sell their REO properties.  Find out more at www.ASREOS.com.

About Frank Patrick:

Frank Patrick began his real estate career in 2000 after a 12-year stint in corporate America as a sales manager.  As a new real estate agent Frank knew that he wanted to find a niche within the real estate industry.  After months of research Frank decided to specialize in REO, an acronym for bank owned foreclosed homes.  Frank quickly became one of the top REO agents in the nation averaging over 100 transactions per year for the last 8 years.  In 2007 Frank’s production soared to over 214 sales.

In 2004 Frank and his brother Scott Patrick started a property preservation company to offer maintenance and repair services to banks with foreclosed homes.  Frank’s solid understanding of the REO industry and Scott’s 20+ years in the construction business was a recipe for success.  This year their property preservation business is on track to gross over one million dollars in revenue.  Today Frank manages his REO Real Estate Brokerage, REO Renegades an REO agent training business, his trade association The American Society of REO Specialists and is developing a national Franchise Property Preservation company, REO ResQ.

For more information please visit http://www.ASREOS.com

Frank Patrick, Property Preservation and Trash Out Specialist, recently discussed how high foreclosure rates will continue through 2013, creating many opportunities for REO agents and brokers

Scottsdale, Ariz. – September 14, 2010 – Frank Patrick, foreclosure trash-out and reo specialist, recently wrote an article discussing how the REO agents and brokers should prepare for huge opportunities. Frank explains that Lender Processing Services (LPS), the country’s leading provider of mortgage processing services and the company that most of the largest U.S banks rely on for data, says the boom in REO listings is very far from over…and stated that the foreclosure crisis probably won’t be over until late 2013.

In the article published on http://www.ASREOS.com, called “REO Listings: Foreclosures Will Dominate Through 2013,” Frank explains how Kyle Lundstedt, managing director of LPS applied analytics, using 15 years of data (from 1996-2010) looked at the housing market bubble and the impact of that bubble bursting.

Frank writes, “He (Lundstedt) also said REO professionals need to be prepared for the massive amount of listings that will continue to come on to the market.  REO homes are some of the most sought-after values in real estate today, both by seasoned investors and first-time home buyers.”

“Besides the current huge number of REO homes on the market, Lundstedt also pointed to the fact that home mortgages that are 90 days or more delinquent, in foreclosure, or already in REO, will continue to rise,” continued Frank.

The entire article can be found at http://www.asreos.com/articles/reo-listings-foreclosures-will-dominate-through-2013.php

Frank Patrick is the founder of The American Society of REO Specialists, or ASREOS.  ASREOS is a national trade association founded in 2008 to assist ASREOS members in making contact with banks, lenders, asset management companies and property preservation companies that need competent REO professionals to service their REO properties.  ASREOS also enables members to network in a professional and supportive environment and offers ongoing dynamic, cutting-edge REO resources to help members grow their business and their own personal performance in the REO marketplace.  ASREOS also provides a comprehensive directory of REO professionals for banks, lenders, asset management companies and property preservation companies.

The online home of ASREOS (http://www.asreos.com), the American Society of REO Specialists, is growing in leaps and bounds to help REO professionals gain a competitive edge and get access to these lucrative listings.  ASREOS is the first REO trade association founded by REO experts, and it features advice from top REO agents, access to an exclusive database of over 130 REO sellers, and profiles of its members in an online searchable directory of REO vendors that banks, lenders and asset managers can utilize when looking for local agents to list and sell their REO properties.  Find out more at www.ASREOS.com.

About Frank Patrick:

Frank Patrick began his real estate career in 2000 after a 12-year stint in corporate America as a sales manager.  As a new real estate agent Frank knew that he wanted to find a niche within the real estate industry.  After months of research Frank decided to specialize in REO, an acronym for bank owned foreclosed homes.  Frank quickly became one of the top REO agents in the nation averaging over 100 transactions per year for the last 8 years.  In 2007 Frank’s production soared to over 214 sales.

In 2004 Frank and his brother Scott Patrick started a property preservation company to offer maintenance and repair services to banks with foreclosed homes.  Frank’s solid understanding of the REO industry and Scott’s 20+ years in the construction business was a recipe for success.  This year their property preservation business is on track to gross over one million dollars in revenue.  Today Frank manages his REO Real Estate Brokerage, REO Renegades an REO agent training business, his trade association The American Society of REO Specialists and is developing a national Franchise Property Preservation company, REO ResQ.

For more information please visit http://www.ASREOS.com

Frank Patrick, REO Foreclosure and Trash Out Specialist, recently weighed in on Fannie Mae’s recent need for more REO brokers and REO Agents

Scottsdale, Ariz. – September 8, 2010 – Frank Patrick, foreclosure trash-out and reo specialist, recently wrote an article discussing how the REO home inventory is outstripping the current REO broker network. During the recent National Association of Real Estate Brokers (NAREB) conference, Fannie Mae executives revealed that, in many areas, they have too much REO inventory – and too few REO brokers to service these properties.

In the article published on http://www.ASREOS.com, called “More REO Brokers And Agents Needed By Fannie Mae ,” Frank explains that “with REO inventories rising across the board in 2010 – and foreclosures hitting new record rates again – Fannie Mae surely realizes the importance of having enough agents and brokers in place to handle the upcoming overload.”

Frank writes, “Most of Fannie Mae’s REO properties are listed with real estate agents – the remaining homes are run through asset management companies to outsource to brokers.  When the number of foreclosures in an area becomes too much for the existing REO agents and brokers, Fannie Mae hires more…And more will very likely be needed”

“Foreclosures rose in 154 of 206 metropolitan areas in the first half of 2010 over the same period of 2009, according to RealtyTrac.com, which analyzed the foreclosure rates from metro areas with 200,000 people or more,” continued Frank.

The entire article can be found at http://www.asreos.com/articles/more-reo-brokers-and-agents-needed-by-fannie-mae.php

Frank Patrick is the founder of The American Society of REO Specialists, or ASREOS.  ASREOS is a national trade association founded in 2008 to assist ASREOS members in making contact with banks, lenders, asset management companies and property preservation companies that need competent REO professionals to service their REO properties.  ASREOS also enables members to network in a professional and supportive environment and offers ongoing dynamic, cutting-edge REO resources to help members grow their business and their own personal performance in the REO marketplace.  ASREOS also provides a comprehensive directory of REO professionals for banks, lenders, asset management companies and property preservation companies.

The online home of ASREOS (http://www.asreos.com), the American Society of REO Specialists, is growing in leaps and bounds to help REO professionals gain a competitive edge and get access to these lucrative listings.  ASREOS is the first REO trade association founded by REO experts, and it features advice from top REO agents, access to an exclusive database of over 130 REO sellers, and profiles of its members in an online searchable directory of REO vendors that banks, lenders and asset managers can utilize when looking for local agents to list and sell their REO properties.  Find out more at www.ASREOS.com.

About Frank Patrick:

Frank Patrick began his real estate career in 2000 after a 12-year stint in corporate America as a sales manager.  As a new real estate agent Frank knew that he wanted to find a niche within the real estate industry.  After months of research Frank decided to specialize in REO, an acronym for bank owned foreclosed homes.  Frank quickly became one of the top REO agents in the nation averaging over 100 transactions per year for the last 8 years.  In 2007 Frank’s production soared to over 214 sales.

In 2004 Frank and his brother Scott Patrick started a property preservation company to offer maintenance and repair services to banks with foreclosed homes.  Frank’s solid understanding of the REO industry and Scott’s 20+ years in the construction business was a recipe for success.  This year their property preservation business is on track to gross over one million dollars in revenue.  Today Frank manages his REO Real Estate Brokerage, REO Renegades an REO agent training business, his trade association The American Society of REO Specialists and is developing a national Franchise Property Preservation company, REO ResQ.

For more information please visit http://www.ASREOS.com

Frank Patrick, REO Foreclosure and Property Preservation Specialist, discusses how the new recession could cause a rise in REO Properties.

Scottsdale, Ariz. – August 25, 2010 – According to a recent article by Frank Patrick, foreclosure trash-out and reo specialist, a new economic downturn could create more foreclosures than ever before. Frank explains how the housing market will be experiencing an increased amount of REO foreclosures, on top of the already massive number that are already on the market.

In the article published on http://www.ASREOS.com, called “REO Listings: New Recession To Spur More REO Properties?” Frank explains that “for every home loan situation that’s improving, two are getting worse – with a total of over 7 million distressed loans currently held by banks.”

Frank writes, “More and more REO professionals will continue to be in demand to handle these specialized property transactions in the months to come, as they have been since the housing bubble first burst a few years ago. Already REO properties are in great demand because of the great value they present to the average homebuyer.”

“Training to become an REO agent and learning how to get REO listings will be an excellent career choice as joblessness continues to plague the country,” continued Frank.

The entire article can be found at http://www.asreos.com/articles/reo-listings-new-recession-to-spur-more-reo-properties.php

Frank Patrick is the founder of The American Society of REO Specialists, or ASREOS.  ASREOS is a national trade association founded in 2008 to assist ASREOS members in making contact with banks, lenders, asset management companies and property preservation companies that need competent REO professionals to service their REO properties.  ASREOS also enables members to network in a professional and supportive environment and offers ongoing dynamic, cutting-edge REO resources to help members grow their business and their own personal performance in the REO marketplace.  ASREOS also provides a comprehensive directory of REO professionals for banks, lenders, asset management companies and property preservation companies.

The online home of ASREOS (http://www.asreos.com), the American Society of REO Specialists, is growing in leaps and bounds to help REO professionals gain a competitive edge and get access to these lucrative listings.  ASREOS is the first REO trade association founded by REO experts, and it features advice from top REO agents, access to an exclusive database of over 130 REO sellers, and profiles of its members in an online searchable directory of REO vendors that banks, lenders and asset managers can utilize when looking for local agents to list and sell their REO properties.  Find out more at www.ASREOS.com.

About Frank Patrick:

Frank Patrick began his real estate career in 2000 after a 12-year stint in corporate America as a sales manager.  As a new real estate agent Frank knew that he wanted to find a niche within the real estate industry.  After months of research Frank decided to specialize in REO, an acronym for bank owned foreclosed homes.  Frank quickly became one of the top REO agents in the nation averaging over 100 transactions per year for the last 8 years.  In 2007 Frank’s production soared to over 214 sales.

In 2004 Frank and his brother Scott Patrick started a property preservation company to offer maintenance and repair services to banks with foreclosed homes.  Frank’s solid understanding of the REO industry and Scott’s 20+ years in the construction business was a recipe for success.  This year their property preservation business is on track to gross over one million dollars in revenue.  Today Frank manages his REO Real Estate Brokerage, REO Renegades an REO agent training business, his trade association The American Society of REO Specialists and is developing a national Franchise Property Preservation company, REO ResQ.

For more information please visit http://www.ASREOS.com