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Introduction To Progress From Prior Month 's Report Essay

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Summary of Progress from Prior Month 's Report

On April 1, 2016, 81 assets in the MABS trust were added to the oversight population. The population of active assets included in the oversight project as of April 30, 2016 was 88. As of October 31, 2016, there were 59 active assets included in the project.

• Days in REO for active assets increased to 231 days in October 2016 compared to 214 days in September 2016

• When removing the 1 Rhode Island asset (“original” population addressed in more detail below), Days in REO for active assets declined to 198 days

• As of October 31, 2016, 24 assets in the REO oversight population had more than 200 Days in REO. 5 of these are from the “original” population and 19 are from the MABS population

Compared to the “original” population, the MABS assets are more geographically disbursed and were not as heavily concentrated in states with an extended redemption timeline (e.g., Nevada, Michigan and Minnesota) or located in states with extended timelines for confirmation/ratification or states with extended timelines for the foreclosure deed recordation (e.g., New York, Illinois, Maryland). However, since MABS moved to the project, RMS has noticed an increase in concentrations in these higher timeline states. In addition, MABS has a high percentage of loans that have been in REO for less than 100 days, with 14 of 41 remaining MABS assets (34%) having less than 100 days in inventory.

Forward Looking Objectives and Goals

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