US-based foreclosure marketplace realtytrac.com has entered into its third partnership for the past two weeks, adding foreclosed property listings from Specialized Asset Management LLC.
Specialized Asset Management is a US provider of asset marketing and disposition services to mortgage lenders, servicers, and investors.
“Marketing our REO assets to realtytrac.com's 3 million unique monthly visitors provides us with additional marketing visibility to help liquidate our REO assets,” said Rudy Krupka, vice president of the company.
“Many of our users are specifically interested in purchasing bank-owned properties, and we want to give those users every opportunity to find and purchase those properties,” added Rick Sharga, realtytrac.com’s senior vice president.
Late last month, realtytrac.com entered into a similar partnership with Keystone Asset Management and began marketing itself through new social network realtyjoin.com.
realtytrac.com says it has access to 1.5 million foreclosure listings as well as foreclosure data from more than 2,200 counties covering more than 90 percent of US households.
The website is expecting the number of foreclosures to increase significantly in 2010 as millions of option ARMS and ALT-A mortgages reset in the next 12 to 18 months and double-digit unemployment continues.