Since 2012, the Claims Without Conveyance of Title (CWCOT) program has saved the FHA an estimated $10 billion in potential losses and generated about $705 million in surplus funds for distressed homeowners. It also cut loss severity by an average of 15 percentage points per property and now represents more than 80 percent of all FHA distressed dispositions.
In our newest Disposition Download, Daren Blomquist, Vice President of Market Economics at Auction.com breaks down three enhancements highlighted by the Urban Institute (using Auction.com data) that could make CWCOT even more effective. You’ll learn:
- The simple shift that’s already saved the FHA billions
- Why making competitive auctions the default could be a quick win
- A pricing move that adapts to market changes and protects homeowner equity
“Just a few fairly straightforward enhancements could spur even more widespread adoption of the program, helping to save FHA more money and helping to protect the equity of more distressed homeowners,” said Blomquist.
Watch the video now to learn three ways to boost CWCOT savings.