FHA has also developed a “Claim Without Conveyance of Title” program to encourage servicers to sell REO without conveying the foreclosure properties to FHA asset managers. This CWCOT program is designed to reduce FHA’s carrying costs of managing and marketing the REO properties.
This Week Current List -- Properties may be occupied, please request info prior.
“Claims Without Conveyance of Title”. - What this really means is the Banks can start marketing the property immediately after the foreclosure sale at the courthouse steps