Property listed as an REO but not owned by a bank

[Dan Arcaro]

I'm in the process of doing a deal that is listed as an REO , but is owned by (what appears to be) an investment group, definitely not the bank that was holding the mortgage on the property. This property was bought about 4 months ago, so i'm not sure if it's just a way of implying that no additional work was done , but should I be otherwise concerned ? Thank you BP !