Robo-signing & Verification Affidavit Not a Get Out of Jail Free Card

Lenders have been accused of robotically signing off on thousands of verification affidavits - accused of cutting an administrative corner - but one that is a legal requirement. Summilarly, a borrower must miss six payments before a complaint is filed. To support the complaint that the mortgage hasn't been paid, the servicer must have an … Continue reading Robo-signing & Verification Affidavit Not a Get Out of Jail Free Card

Avoid Foreclosure Rescue Scams

Potential victims are easily ascertainable - Mortgage lenders publish notices before foreclosing on homes.  Lists are compiled of notices of foreclosure and distressed properties.  Soon mortgage saviors pop out of the woodwork disguised as consultants, prevention specialists, etc. Click on the link below for more information on types of scams and how to protect yourself. … Continue reading Avoid Foreclosure Rescue Scams

10 States Account for 70 Percent of Total Foreclosure Activity

Ten states accounted for 70 percent of U.S. foreclosure activity in April, led by California with 55,869 properties receiving a foreclosure filing during the month. A total of 19,649 Florida properties received a foreclosure filing in April, the second highest state total despite a 59 percent decrease from April 2010. Florida overall foreclosure activity in … Continue reading 10 States Account for 70 Percent of Total Foreclosure Activity

Your State’s Foreclosure Process

Know your State's Foreclosure Process - Judicial vs. Non-judicial Judicial foreclosure - the foreclosure process is a legal one.  It begins in a court of law by filing a Lis Pendens (which literally means "lawsuit pending"). Non- judicial foreclosure - the foreclosure process begins by filing & recording a Notice of Default in the county … Continue reading Your State’s Foreclosure Process

Freddie Mac Business Available – BECOME A LISTING BROKER !

Just announced: Freddie Mac/HomeSteps listing broker interviews We’re pleased to announce that Freddie Mac’s HomeSteps unit will again be interviewing potential listing brokers during REO Expo 2011.Freddie Mac has openings for listing brokers, and you might be the broker they are seeking! These face-to-face interviews are great opportunity to build your business while you’re participating … Continue reading Freddie Mac Business Available – BECOME A LISTING BROKER !

Key Rate Indices

  KEY RATE INDICES Prime Rate  3.25% 1 Month LIBOR  0.20% 5 Yr US Treasury  1.85% 5 Yr Swaps  1.99% 12-MAT  0.28% 3 Month LIBOR  0.26% 10 Yr US Treasury  3.18% 10 Yr Swaps  3.19% 11th Dist COFI  1.45% 6 Month LIBOR  0.42% 30 Yr US Treasury  4.26%