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Some of the mega banks are now clearly leaning in one direction or the other on whether they prefer to deal with short sales or have bank-owned (REO) properties to deal with selling. Bank of America has instituted a policy of liquidating assets with defaulted properties vs. essentially repossessing them. The bank has even gone on record with encouraging Realtors to do more short sales over the next couple years.

At the opposite end of the spectrum, Wells Fargo is …

RISMEDIA, August 2, 2010—The lending landscape has changed quite drastically over the past several years. Practices, approvals and standards that were once widely accepted have either vanished or transformed beyond the point of recognition. Many banks, which were once extremely careless with their loan underwriting techniques and approvals, have dug themselves into a significant hole that will take many years to climb out of. Promotions such as “100% Financing” and “No Doc Loans” were both major contributors to the financial …