CCAR

Foreclosure Radar Status Definitions

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Notice of Default (NOD)

Preforeclosure - Properties having a Notice of Default recorded within the last 180 days which have not yet been sold and which have not yet had a Notice of Trustee Sale recorded.

NTS Filed - Properties which have moved from the Preforeclosure to the Auction stage of the foreclosure process after a Notice of Trustee Sale (NTS) was filed.

Sold - Properties sold while in Notice of Default status,usually but not always indicating a short sale.

Outdated - Properties in a Notice of Default status longer than 180 days.

 
Notice of Trustee Sale (NTS)

Auction  - Indicates that the property is currently scheduled to be sold at a trustee sale auction. Includes all Notices of TrusteeSale until the sale is cancelled or the property is sold to the bank or a 3rd party.

Bank Owned (also known as SOLD TO BANK) - Properties that have been taken to sales at auction and did not receive a bid from a 3rd party,resulting in the sale of the property back to the bank. Properties remain bank owned until the are resold.

3rd Party (also known as SOLD TO 3RD PARTY) - Properties sold at auction to someone other than the bank that foreclosed. Properties remain 3rd Party owned until they are resold, listed for rent, or 8 months have passed (in which case we assume they buyer plans to hold the property) .

Cancelled - Properties which were scheduled for TrusteeSale, but where the sale was cancelled, and the property has not yet been resold.

Unknown - Properties for which we were unable to get information after the sale date occurred. The foreclosures on these properties may have been postponed to a future sales date, cancelled, or held and the property sold.

Bank Resold - Properties old bank to the bank at the trustee sale and which have since been resold.

3rd Resold - Properties sold to a 3rd party at trustee sale and which have since been resold.

3rd Held - Properties sold to a 3rd party at trustee sale and which have not been resold.

Cancelled Resold - Properties for which the trustee sale was cancelled and which have since been resold.

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