GREY:CLRYF - Post by User
Comment by
Trelawnyon Mar 25, 2016 7:04pm
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Post# 24701321
RE:Recent contract win
RE:Recent contract winHI LSCFA,
While that is the number of properties sold - that is not necessarily the full extent of all of the different alternative-appraisals that need to happen. There are mutliple touch points that happen throughout the cycle of a mortgage - particularly when they are in default (they need to be reassed every quarter).
So the number simply gives context to the potential number of houses that might be in the system - given that the number sold are only the tip of the iceberg.
Even if it were only 15,400 as you assume - that would be around 61,600 touch points if they were in default for the year. If they sold there could be more - and more done per interested party looking to buy the property. Again that would only be on the houses that you know of from the number of houses sold.
I think the issue is that more people need to dig into the life cycle of touch points of a mortgage in default.
Best regards,
Colin Fisher