DSNews By: Brian Honea January 31, 2016 Foreclosure activity was way down across the board in 2015, with a noticeable decline in the foreclosure inventory down to its pre-recession level, meaning the backlog of foreclosures continues to clear out at a substantial rate. With nearly half of the residential mortgage loans that began […]
DSNews BY: Brian Honea December 14, 2015 Improving overall performance of first-lien mortgages means fewer delinquencies, and fewer delinquencies have in turn means a declining need for loss mitigation, according to the Office of the Comptroller of the Currency (OCC)’s Mortgage Metrics Report for the Third Quarter of 2015. According to the OCC, […]
DSNews BY: Brian Honea November 17, 2015 Foreclosures have been continually on the decline nationwide for a few years. While much of the decline can be attributed to a recovering economy, another driver of the drop in foreclosures is increased borrower outreach efforts from various organizations. Borrower outreach events include HUD-approved housing counselors and mortgage […]
DSNews BY: Brian Honea December 3, 2015 Why Are Discounted Distressed Sales Not Pulling Down Non-Distressed Home Prices? When distressed properties account for a large share of all residential home sales, it tends to pull down the prices of non-distressed homes, since foreclosed and REO properties typically sell at a discount to non-distressed […]
DSNews By: Brian Honea June 19, 2015 U.S. Senator Bob Menendez (D-New Jersey) has proposed legislation that will help underwater homeowners avoid foreclosure and remain in their homes, according to an announcement onMenendez’s website. The Preserving American Homeownership Act is intended to help the estimated 5.1 million Americans who are underwater, or owe more on […]
DSNews By: Brian Honea June 2015 Freddie Mac issued a list of “red flags” in a blog entry Monday for distressed borrowers seeking help with their mortgage to watch out for in order to avoid fraud. Citing a Detroit Free Press story from April about Anthony Carta, who was sentenced to 30 to 99 […]
DSNews Author: Brian Honea February 24, 2015 Florida-based JWB Real Estate Capital has published its online investment property short sale guide to provide information for property owners on foreclosure prevention. While foreclosure numbers have declined since 2007, many homeowners still face the threat of foreclosure when their mortgage payment becomes overdue. While legal processes vary among states, […]
DSNews: By Author: Brian Honea February 18, 2015 The nation’s mortgage delinquency rate for loans 60 days or more overdue continued its steady decline in the fourth quarter of 2014, falling to 3.29 percent – representing a 14 percent drop from the same quarter in 2013 (3.84 percent), according toTransUnion‘s latest mortgage report released Wednesday. Q4 was […]
DSNews: Author: Brian Honea January 24, 2015 Government-sponsored enterprise Freddie Mac has announced that it will begin its second sale of “deeply delinquent” mortgage loans in three pools worth approximately $410 million. Delinquent loans left over from a wave of foreclosures following the housing bust have dogged Freddie Mac and its sister GSE, Fannie Mae. […]
DSNews BY: Brian Honea January 29, 2015 A new policy issued by the Federal Housing Administration (FHA) on Thursday under its Home Equity Conversion Mortgage (HECM) Program will allow reverse mortgage lenders to delay calling HECMs from a surviving non-borrowing spouse following the death of the last surviving borrower. Such a delay on collection […]
