Los Angeles, California-based REOTrans, LLC, a company that sells foreclosures through its Web-based platform, said Monday that it has sold 150,000 homes, valued at $22 billion in the past five years. The company primarily serves financial institutions who are then able to utilize its software system to manage and sell REOs.

“We continue to see substantial additions of foreclosure properties to our system each month,” said Chris Saitta, chief executive officer of REOTrans. “On the plus side, we're definitely starting to see higher numbers of properties selling, even in areas like California and Florida, which have been significantly impacted by the current real estate and mortgage crisis.”

To learn more, you can visit www.REOTrans.com.

Kerri Panchuk | 06.09.08