RealtyTrac, which advertises itself as the "leading online marketplace of foreclosure properties," released its Foreclosure Market Report for September and Q3 2012 on Oct. 11. In the report, RealtyTrac reported that foreclosure activity dropped to a 5-year low in September.
This week, President Obama's campaign officials and surrogates adopted the report as a new talking point. On MSNBC, Obama Deputy Campaign Manager Stephanie Cutter credited Obama with producing "the lowest foreclosure rate in the last five years." Obama surrogate Jennifer Granholm and campaign press secretary Jen Psaki used the same talking point over the past week.
However, the campaign and its surrogates failed to disclose that the DNC maintains a relationship with RealtyTrac. According to the October monthly FEC report for the DNC, the committee owes RealtyTrac $60,000 for "Voter File Updates and Maintenance."