DSnews.com Another month, another promising sign of housing recovery. Corelogic reported on Tuesday that 47,000 foreclosures had been completed in May, a year-over-year decrease of 9.4 percent from May of 2013. As of May, about 660,000 homes, 1.7 percent of all homes with a mortgage in the United States, were in some stage in the … Continue reading Foreclosures Down Again in May
Ocwen Financial ($34.66 0%) and Nationstar Mortgage Holdings ($29.36 0%) could develop mortgage lending platforms in 2013-2014, a Bank of America Merrill Lynch ($9.76 0%) analyst predicted in a conference call on Wednesday. While Ocwen and Nationstar are known for servicing, BoAML senior financial services analyst Ken Bruce predicts mortgage originations will become a "much … Continue reading BofAML: Ocwen, Nationstar may develop mortgage lending platforms
Lien release backlogs likely as short sales increase; servicers face recording challenges as GSE guidelines effective November 1 make the short sale process easier and speedier By Rekon Technologies Rekon Technologies Last modified: 2012-11-27T15:36:06Z Published: Tuesday, Nov. 27, 2012 - 7:35 am Copyright 2012 . All rights reserved. This material may not be … Continue reading Rekon’s Lien Release Software Sees Increased Short Sale Use
HUD Secretary Shaun Donovan announced Friday the distribution of $42 million in grants to 468 housing counseling agencies nationwide. In his announcement Friday, Donovan called housing counseling programs “nothing less than indispensable.” After national funding for housing counseling was cut last year, Donovan said, “We fought hard to persuade Congress to restore funding for housing … Continue reading HUD Grants $42M to Housing Counselors
The credit performance of private-label residential mortgage-backed securities (RMBS) in the U.S. continues to face many challenges in 2012, with the biggest risk posed by strategic defaults, according to Moody’s Investors Service. Despite what’s expected to be a year of anything but calm waters ahead, in its annual outlook released Thursday, Moody’s says the performance … Continue reading Biggest Risk for RMBS Investors? Strategic Defaults.
Freddie could take more than a decade to unload REO inventory Freddie Mac vendors sold fewer REO properties in the third quarter than they did earlier in the year as nonperforming loans continue to climb. More than 25,300 repossessed homes held by Freddie Mac sold in the third quarter, down 13.5% from the nearly 30,000 in … Continue reading How long will it take Freddie to clear their REO inventory?
For most of the housing crisis, Chicago-area homebuilders and real estate agents have repeatedly said thank goodness they weren't trying to do business in such housing boom and bust states as Florida, California, Arizona and Nevada, which experienced frenetic homebuilding and skyrocketing home values. If the most recent forecast from the National Association of Home … Continue reading Illinois’ housing recovery hinges on jobs