Today, Wilen has collaborated with 35+ of the largest and most sophisticated local, global, public, and private lenders in the sale and valuation of real estate (REO). Our proven systems, data-driven insights, and multidisciplinary approach ensure that every stage of the REO lifecycle is expertly managed, from assignment to sale.

Experience

24+ Assets Actively Monitored
100+ Property Rehabs Supervised
400+ REOs Sold for Lending Partners
1,000+ Properties Managed Through Eviction
10,000+ Portfolio Valuations Completed

Internal Management Platform

MinnesotaForeclosures.com is a proprietary platform combining a front-end property marketing solution with a powerful back-end management system for team collaboration and task orientation.

Comprehensive Services

Our full-service platform spans the entire REO lifecycle, including valuation, rehabilitation oversight, marketing, and final disposition. With 24/7 client support and coordinated execution across every discipline, we reduce complexities and expedite asset resolution, maximizing recovery for lending partners. Our commitment to sound, data-backed practices and seamless communication ensures consistent, reliable results—from the initial engagement through closing.

Industry-Leading Insight

Wilen brings an unparalleled understanding of property transfer protocols and asset preservation, built on a foundation rooted in his late father’s leadership of the Hennepin County Sheriff’s Office Civil Division. This depth of knowledge supports our ability to navigate complex foreclosure environments with confidence and precision.

REO Valuation Expertise

Wilen has completed more than 10,000 property valuations and brings a refined understanding of pricing strategies, particularly in distressed and time-sensitive scenarios. During the peak of the market downturn, Mike Wilen built direct relationships with some of the most sophisticated lenders and servicers in the real estate space. These partnerships led to the successful sale of over 400 bank-owned properties. His entry into the REO sales network was nearly accidental—originating from a discussion around loan performance metrics, specifically Loss Severity Percentage. Loss Severity Percentage is a risk metric used to measure the amount a lender loses on a loan after default, once the collateral is sold. It plays a critical role in credit analysis, forecasting recovery potential, and evaluating asset performance. Formula Overview:

  • Loss Severity % = (Loss Given Default / Original Loan Amount) × 100
  • Where: Loss Given Default (LGD) = Loan Balance – Net Recovery (after foreclosure costs)
  • Original Loan Amount = The initial amount loaned
  • Example: If a $200,000 loan defaults, and the lender recovers $140,000 net after foreclosure:
  • Loss Severity % = ((200,000 – 140,000) / 200,000) × 100 = 30%

With a background in technology, Mike proposed a streamlined way to initiate these calculations. While not intended as a regulatory tool, he developed a Python-based model that ingested key data points such as foreclosure trends, crime statistics, property condition, market time, delinquency rates, and comparable sales. This approach enabled fast, consistent desktop valuations that routinely aligned with formal appraisals and institutional benchmarks—offering a time-saving, data-backed starting point for asset review.