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Home | News | Foreclosure

Monitor Reports One Failed Metric In NMS Compliance Update

compliance-two

-+*Smith reported that Green Tree had completed eight corrective action plans (CAPs) to address root causes of fails that had previously been uncovered, and that he found no evidence of any failures during the "cure period," which is the amount of time in which the servicer has a chance to fix the issues.

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Completed Foreclosures Decline But Remain At Double Pre-Recession Levels

foreclosure-notice

-+*"Despite a slow and steady improvement in most housing market fundamentals, too many families remain in default of their mortgage obligations," said Anand Nallathambi, President and CEO of CoreLogic. "The percent of homeowners with a mortgage that have missed three or more monthly payments or are in foreclosure proceedings dropped to 3.6 percent in our April data. While well below the record peak of nearly 9 percent and the lowest in more than seven years, it remains about double the pre-2007 rate."

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