CoreLogic’s most recent Loan Performance Insights Report shows that, nationally, 4.4% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in March 2017. This represents a 0.8-percentage-point decline in the overall [Read More]
Maryland Gov. Larry Hogan recently signed into law a fast-track foreclosure bill that will expedite the foreclosure process for vacant properties. Last year, the state of Ohio passed a similar measure, with the intent to reduce community blight. “Blight caused [Read More]
Apparently, there is a problem with leasing REOs “as is” and shifting responsibility for repairs and maintenance to the renter in certain “rent-to-own” models.
The delinquency rate on first-lien mortgages (30 days or more past due) stood at 4.08% as of the end of April – an increase of 12.93% compared with March but a decrease of 3.58% in April 2016, according to Black [Read More]
Pre-foreclosure management of properties can be greatly improved with technology.
However, there were certain states where foreclosure starts ticked up compared with a year earlier.
Government-sponsored enterprise (GSE) Fannie Mae is looking to sell another pool of reperforming loans (RPLs) as part of the company’s ongoing effort to reduce the size of its retained mortgage portfolio. The pool of approximately 13,700 loans, totaling $3.036 billion [Read More]
The mortgage delinquency rate (30 days or more past due) in February fell to 5.0% of all loans – down from 5.5% in February 2016, according to CoreLogic’s Loan Performance Insights Report. As of the end of February, the foreclosure [Read More]
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]
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]
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]
Numerous states also bringing their own separate suits; mortgage servicer says suit is ‘overreach’ and ‘politically motivated’
Fannie Mae changes a rule about securing vacant properties, but experts say blight control is about more than covering windows.
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 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 (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]
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]
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]
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]
As of the end of 2016, the national foreclosure inventory, which reflects all homes in some stage of the foreclosure process, included approximately 336,000 properties – or 0.9% of all homes with a mortgage – compared with 1.4 million homes, [Read More]