Aged foreclosure inventory, which is comprised of residential mortgage loans in active foreclosure that are at least two years delinquent, has seen significant improvement in the last seven months, according to Black Knight Financial Services' May 2015 Mortgage Monitor released Monday. Black Knight examined approximately 468,000 active foreclosures at least two years delinquent and discovered … Continue reading Aged Foreclosure Population Sees Significant Improvement
Tag: foreclosure assistance
Freddie Mac Offers Distressed Homeowners a Complete Guide to Foreclosures and Alternatives
Freddie Mac is now offering distressed homeowners a complete guide to foreclosure and how to avoid it, from assessing your situation to what to do when your home has been foreclosed on, as part of a new website launched this week as a one-stop resource for homeowners. The "MyHome by Freddie Mac" site offers homeowners … Continue reading Freddie Mac Offers Distressed Homeowners a Complete Guide to Foreclosures and Alternatives
Completed Foreclosures Decline But Remain At Double Pre-Recession Levels
While completed foreclosures on residential homes totaled 40,000 for April and have been steadily falling monthly for the last four years, they are still nearly double their pre-recession average per month, according to CoreLogic's April 2015 National Foreclosure Report released Tuesday. Completed foreclosures, which are a measure of homes actually lost to foreclosure, declined by … Continue reading Completed Foreclosures Decline But Remain At Double Pre-Recession Levels
Representative Waters Asks HUD For More Transparency For Non-Borrowing Spouses on HECMs
U.S. Representative Maxine Waters (D-California) has written a letter to Department of Housing and Urban Development (HUD) Secretary Julián Castro asking for relief and more transparency for seniors participating in HUD's Home Equity Conversion Program (HECM). At the center of the issue is the fate of surviving non-borrowing spouses upon the death of the last … Continue reading Representative Waters Asks HUD For More Transparency For Non-Borrowing Spouses on HECMs
House approves way for FHA to go after mortgage lenders
The House of Representatives passed a bill Tuesday 402-7 allowing the Federal Housing Administration to recoup losses from mortgage lenders for fraudulent loans it guarantees. Rep. Judy Biggert, R-Ill., introduced the FHA Emergency Fiscal Solvency Act in March to shore up an emergency insurance fund on the brink of an unprecedented bailout. A $1 billion … Continue reading House approves way for FHA to go after mortgage lenders
LPS: Nearly one out of five homeowners underwater
Roughly 18% of U.S. homeowners who are current on their mortgage payments are classified as underwater, setting the stage for additional defaults if home prices fall deeper, Lender Processing Services ($28.39 0%) noted in its July Mortgage Monitor Report. The Jacksonville, Fla.-based mortgage technology firm said mortgage delinquencies are down 30% from the peak … Continue reading LPS: Nearly one out of five homeowners underwater
REO Opportunities on the Rise
REO Opportunities on the Rise Nationstar Mortgage just completed the acquisition of $63.7 billion in residential assets from Aurora Bank FSB. 75% of the assets purchased are non-conforming loans. (Source: Housingwire) There has been a huge surge in foreclosure filings due to the "robo-signing" litigation and the soon to be ended Mortgage Debt Relief Act. In … Continue reading REO Opportunities on the Rise
Huge Surge in Foreclosure Filings
Nationstar Mortgage just completed the acquisition of $63.7 billion in residential assets from Aurora Bank FSB. 75% of the assets purchased are non-conforming loans. (Source: Housingwire) There has been a huge surge in foreclosure filings due to the "robo-signing" litigation and the soon to be ended Mortgage Debt Relief Act. In May 2012 alone, there were … Continue reading Huge Surge in Foreclosure Filings
Supreme Court passes on RESPA case
The U.S. Supreme Court disappointed the mortgage finance and settlement services industries by refusing to deliver an opinion in a well-known Real Estate Settlement Procedures Act case, known as First American v. Edwards. Because the Supreme Court refused the case, a Ninth Circuit Court opinion that says a party does not have to show actual … Continue reading Supreme Court passes on RESPA case
Have a Mortgage Complaint? Your complaint can be heard.
Agency to hear mortgage complaints If you've been dying to find someone to listen to your beef with the company that services your mortgage, here's your chance. The federal Consumer Financial Protection Bureau is now open for business for complaints and inquiries related to home loans. For the first three months of its existence, the … Continue reading Have a Mortgage Complaint? Your complaint can be heard.
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