RPR’s distressed property data for on- and off-market properties comes from MLS sources as well as from public records sources.
Some MLS source feeds contain codes for distressed properties that identify residential listings as Pre-foreclosure or Foreclosure listings in RPR. When a listing shown as Pre-foreclosure or Foreclosure in RPR goes off-market, the property is no longer categorized as Distressed. Listings data are updated in RPR multiple times per day. Any changes in the source data, such as a Foreclosure property going off the market or an MLS changing a listing’s distressed status, will be reflected in RPR the same day
Data on distressed properties is also available from two public records sources: RealtyTrac and Black Knight Financial Services (BKFS) that together cover the United States. Information is provided about official foreclosure-related documents, such as Notice of Default and Notice of Trustee Sale. Properties with active foreclosure documents are categorized by RPR as Distressed, and further categorized as Pre-foreclosure or Foreclosure. In addition, historical distressed information is available for some properties in some areas.
Once a qualified sale of the property is registered with RPR, removing it from foreclosure and bank ownership, or once an official rescission document is issued and published, the property is no longer categorized as Distressed. RPR does not control when public records documents are received and processed from counties; updates can take several weeks to be made public and available in RPR.