CHASE REO USDA moving to

I know USDA lending is a small part of the loan market but my contacts and new assignments with this group are now going straight to auction.  They are marketed for 30 days on and then auctioned off every week for 8 weeks.  The price is reduced on the auction every week from what I understand.  If the asset is not sold at auction in that 8 weeks then they are giving back to broker to sell on MLS. 

Broker still earns commission on list side even if it is sold at auction and has the opportunity to double end the deal through

Interesting way to market properties.

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