Archive for delinquency

DIMONT Expands Collateral Loss Mitigation Department

Posted by Patrick Barnard on April 24, 2017

DIMONT, a provider of specialty insurance and loan administration services, has expanded its collateral loss mitigation department. Encompassing all of DIMONT’s services, including hazard claims adjustment, investor claims management, flood insurance valuation and loss draft management, the collateral loss mitigation [Read More]

S&P/Experian: First Mortgage Default Rate Hit One-Year High In March

Posted by Patrick Barnard on April 24, 2017

The default rate on first mortgages was about 0.75% in March – up slightly from 0.74% in February but down from 0.77% in March 2016, according to the S&P/Experian Consumer Credit Default Indices. The default rate on second mortgages was [Read More]

Black Knight: Prepayment Speeds Bounced Back In March

Posted by Patrick Barnard on April 21, 2017

The mortgage delinquency rate in March was 3.62%, down 14.08% compared with February and down 11.40% to reach the lowest level in 11 years, according to Black Knight’s First Look mortgage report. About 1.8 million properties were 30 days or [Read More]

CFPB Suing Mortgage Servicer Ocwen For ‘Years Of Widespread Errors’

Posted by Patrick Barnard on April 20, 2017

Numerous states also bringing their own separate suits; mortgage servicer says suit is ‘overreach’ and ‘politically motivated’

SouthLaw Hires New Associate Bankruptcy Attorney

Posted by Patrick Barnard on April 19, 2017

Lisa C. Billman has joined SouthLaw PC, a law firm focusing on the protection of creditors’ rights in Missouri, Kansas, Nebraska and Iowa, as an associate attorney for the bankruptcy department located in the firm’s corporate office in Overland Park, [Read More]

Foreclosure Activity Fell Below Pre-Recession Levels In Q1

Posted by Patrick Barnard on April 17, 2017

Foreclosure activity in the first quarter fell to the lowest level in 11 years, and the trend is expected to continue into the second quarter, according to ATTOM Data Solutions. The firm’s U.S. Foreclosure Market Report shows that foreclosure filings [Read More]

Hope LoanPort Now Integrated With FormFree’s AccountChek

Posted by Patrick Barnard on April 07, 2017

Hope LoanPort (HLP), a nonprofit technology provider for the mortgage industry, has integrated FormFree‘s AccountChek automated asset verification solution into its communication platform. HLP connects consumers, U.S. Department of Housing & Urban Development-certified housing counselors, mortgage lenders, servicers, investors, attorneys [Read More]

Fiserv’s LoanServ Gets Improved Loss Mitigation, Loan Boarding Capabilities

Posted by Patrick Barnard on March 31, 2017

Fiserv Inc. reports that it has made numerous enhancements to its LoanServ mortgage servicing platform in recent months, including the introduction of Loan Boarding, a new solution that reduces the time it takes to acquire performing and defaulted loans from [Read More]

Black Knight: 4% Of Active Mortgages Are ‘Reperforming’

Posted by Patrick Barnard on March 30, 2017

The number of mortgages classified as “reperforming” – meaning they are currently performing but were previously, at one point or another, more than 120 days delinquent and/or in some stage of foreclosure – has grown to nearly 2 million loans [Read More]

S&P/Experian: Rising Interest Rates Not Causing Any Adverse Effects – Yet

Posted by Patrick Barnard on March 27, 2017

The default rate for first mortgages crept up slightly to 0.74% in February, rising from 0.72% in January, according to the S&P/Experian Consumer Credit Default Indices. Still, the default rate for first mortgages was down from 0.84% in February 2016. [Read More]

Black Knight: Prepayment Speeds Fell To Lowest Rate In Three Years

Posted by Patrick Barnard on March 24, 2017

Prepayment speeds decreased 15% in February compared with January and decreased 40% compared with February 2016, according to Black Knight Financial Services’ First Look report. Driven down by rising interest rates and lower refinance activity, it was the lowest monthly prepayment [Read More]

CoreLogic: One Million Borrowers Regained Equity In 2016

Posted by Patrick Barnard on March 09, 2017

In the fourth quarter, there were about 3.17 million properties, or about 6.2% of all homes with a mortgage, with negative equity.

Exceleras: Shaving Weeks Off The REO Disposition Process

Posted by Patrick Barnard on March 06, 2017

One of the most important metrics when it comes to real estate owned (REO) disposition is time. Every day it takes to move a property off the investor’s balance sheet and back into the market costs money. Mortgage technologists have [Read More]

Michael Vitali: Now Is Not The Time To Relax On QC

Written by Patrick Barnard on March 01, 2017

PERSON OF THE WEEK: When it comes to the potential for regulatory rollback under the Trump administration, there are myriad possibilities. But, should the administration succeed in rolling back some or all of the onerous mortgage regulations put in place [Read More]

Black Knight: Prepayment Speeds Down Nearly 30% In January

Posted by Patrick Barnard on February 23, 2017

Mortgage delinquencies (30 days or more past due but not in foreclosure) were at a rate of about 4.25% in January – a decrease of 3.85% compared with December and a decrease of 16.57% compared with January 2016, according to [Read More]

SouthLaw Hires Two Associate Attorneys For Its Iowa Foreclosure Department

Posted by Patrick Barnard on February 22, 2017

SouthLaw PC, a law firm servicing the mortgage default servicing industry, recently hired two new associate attorneys for its Iowa Foreclosure Department located in the firm’s West Des Moines, Iowa, office. James J. Larson, who joined the firm in January, [Read More]

S&P/Experian: Mortgage Default Rate Up Slightly In January

Posted by Patrick Barnard on February 21, 2017

The default rate for first mortgages was 0.72% in January – up from 0.71% in December but down from 0.84% in January 2016, according to the S&P/Experian Consumer Credit Default Indices. The default rate for second mortgages was 0.48%, up [Read More]

LRES Rolls Out Lien Alert Solution

Posted by Patrick Barnard on February 20, 2017

LRES, which offers valuations, real estate owned asset management, homeowners association (HOA) and other technology solutions for the mortgage and real estate industries, has launched a lien alert solution to enable servicers to continuously monitor their portfolios for liens and [Read More]

MBA: Rise In Q4 Delinquency Rate Due, In Part, To Spike In FHA Delinquencies

Posted by Patrick Barnard on February 16, 2017

Mortgage delinquencies (loans that are 60 days or more past due but not in foreclosure) were at about 4.80% as of the end of the fourth quarter – an increase of 28 basis points compared with the third quarter but [Read More]

CoreLogic: Completed Foreclosures Hit Pre-Crisis Low In December

Posted by Patrick Barnard on February 15, 2017

The approximately 21,000 completed foreclosures in December is less than the monthly average of about 22,000 seen in the pre-crisis years, between 2000 and 2006.