After steady declines in foreclosures over the past few quarters, the amount of real estate owned by Birmingham banks was on the rise in the second quarter of 2015.
According to data from the FDIC, other real estate owned, also called OREO, rose 5.4 percent in the second quarter, compared to the first quarter.
Banks usually accumulate OREO through defaulted and foreclosed loans, meaning an uptick could foreshadow challenges for the banking industry and the local economy.
But banks aren’t sweating… …read more
From:: biz journal foreclosures