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

Bank Foreclosures Listed Far Below Regional Selling Prices

RealtyStore, a provider of a broad variety of real estate listings, recently released a report outlining average selling prices for bank foreclosures. The company found the median price of bank foreclosures for sale in six select states list at an average of nearly 50 percent below recent median existing-home sale prices. The states—Maryland, Massachusetts, Mississippi, … Continue reading Bank Foreclosures Listed Far Below Regional Selling Prices

Deutsche Bank claims housing correction complete

Recent indicators showed housing has largely corrected back to pre-bubble levels and affordability, according to a note from Deutsche Bank analysts. Nationally, home prices dropped roughly 40% from the overheated peak in 2006 to a low in 2009. But the analyst said in a note Thursday that prices are still 30% higher than the millennium … Continue reading Deutsche Bank claims housing correction complete

Concern rising over expiration of mortgage debt relief ….

By Jim Puzzanghera, Los Angeles Times5:00 a.m. CDT, September 7, 2012 WASHINGTON — Struggling homeowners who obtain reductions in their mortgage debt face a new obstacle starting next year — a bill for taxes on that aid. A special exemption of as much as $2 million per household in principal reduction and other aid from … Continue reading Concern rising over expiration of mortgage debt relief ….

Romney vows to make foreclosure prevention easier

Jon Prior "A Romney-Ryan Administration will make it easier for homeowners to get alternatives to foreclosure, such as short sales, deed-in-lieu-of-foreclosure and shared appreciation," according to a recently released policy.[Update: Adds Romney shared appreciation accounting proposals]In his latest housing plan, Republican presidential nominee Mitt Romney promised to abolish President Obama's foreclosure prevention programs in order to … Continue reading Romney vows to make foreclosure prevention easier

Ocwen shared appreciation program holds redefaults steady

Borrowers will likely stay current on their mortgage after a principal write-down whether they share future equity returns with the bank or not, according to new shared appreciation program data. Select borrowers can receive a principal reduction from Ocwen Financial Corp. ($27.49 -0.06%) back above water over three years but must agree to share 25% … Continue reading Ocwen shared appreciation program holds redefaults steady

FHFA pushed Fannie to take harder line on BofA servicing

Fannie Mae still paid a premium to Bank of America ($9.23 0%) in order to transfer mortgage servicing from the bank to a smaller firm in 2011, but the Federal Housing Finance Agency forced it to push for a better deal, according to an inspector general report released Tuesday. When Fannie targeted 384,000 high-risk mortgages … Continue reading FHFA pushed Fannie to take harder line on BofA servicing

Mortgage cops taking tough stance Office of Inspector General on the prowl for strategic defaulters

By Lew Sichelman, United Feature Syndicate10:22 p.m. CDT, September 13, 2012Strategic defaulters, beware. The feds are coming for you. And they are not happy.Not the FBI. The Office of the Inspector General at the Federal Housing Finance Agency.The OIG may not have the same fearsome "G-man" reputation as its better-known counterparts at the Federal Bureau … Continue reading Mortgage cops taking tough stance Office of Inspector General on the prowl for strategic defaulters

Shadow Inventory: 46 Months to Clear Distressed Housing Supply

It will take 46 months to clear the market’s supply of distressed homes, or the shadow inventory, according to estimates from Standard & Poor’s Rating Services based on first-quarter 2012 data. The agency’s latest estimate came in one month shy of the liquidation timeline determined in the fourth quarter of 2011. While national residential mortgage … Continue reading Shadow Inventory: 46 Months to Clear Distressed Housing Supply

Fannie Mae mortgage delinquency rate remained steady

The rate of seriously delinquent single-family mortgages in Fannie Mae's portfolio held steady at 4.08% in July, while the multifamily rate dropped one basis point to 0.45%.  The government-sponsored enterprise completed 17,540 loan modifications in July, and has completed more than 118,000 loan mods on troubled mortgages this year.  Fannie's gross mortgage portfolio rose 6.1% … Continue reading Fannie Mae mortgage delinquency rate remained steady