While the need for more staff increases during a rise in foreclosure starts, during quieter times, it becomes economically unviable to maintain a large staff. Travis Britsch discusses how unpredictable variability poses a daunting challenge for trustees and attorneys.
Read More »The Exchange: Forcing Change in a New Era
Five Star FORCE Advisory Council Chair Jim Hastings and Vice Chairman Steven Pagano share their thoughts and insight on the state of the industry and how FORCE members are sharing their tips and talents for the greater good.
Read More »The Evolution of the REO Landscape
Patrick McClain, SVP of Hubzu Auction Services, talks to DS News about how the REO space has evolved in recent years, the challenges of operating amidst low foreclosure inventory, and how struggling homeowners are benefitting from options such as short sales.
Read More »FHFA Report: GSEs’ Total Foreclosure Prevention Actions Cross 4M
The GSEs (Fannie Mae and Freddie Mac) completed 22,411 foreclosure prevention actions in November, bringing the total to 4,013,134 since the start of the conservatorships in September 2008, according to the Foreclosure Prevention Report released by the Federal Housing Finance ...
Read More »Foreclosures, Short Sales Down Once Again
New data shows foreclosures and short sales are down once again. November marked the fourth straight month they’ve declined.
Read More »Midwest Reflects National Cold Weather Woes
Sales of residential homes in the seven-county metro of Chicago followed a pattern similar to January: rising prices, but the pace of sales slow when compared to the same month last year. According to an analysis by RE/MAX, bitter weather and a small inventory of homes for sale were the primary factors causing reduced sales activity.
Read More »Lenders: Beware of the ‘Forced’ Short-Sale in Bankruptcy
Historically, Chapter 7 Trustees rarely seek authorization to sell over-encumbered real property of the estate free and clear of liens because such a sale is authorized only under very limited circumstances. Based upon the rarity of motions to sell over-encumbered property and the assumption that a Court would never grant such a motion, creditors have generally been complacent about monitoring bankruptcy cases for such motions.
Read More »Institutional Investor Sales Decline
RealtyTrac released its January 2014 Residential & Foreclosure Sales Report on Thursday, revealing institutional investors made up 5.2 percent of all U.S. residential property sales in January. Institutional investor sales are down from 7.9 percent in December, and down 8.2 percent from January, 2013.
Read More »New App Looks to Hasten Short Sale Process
ShortSave, Inc., announced Tuesday a new application aimed at shortening the time for a one-lien short sale or loan modification transaction. The average short sale takes 165 days, a time period ShortSave anticipates being able to cut to a paltry 36 days. The application is projected to save a non-performing note investor $1,200-1,800 in lost interest on an average loan.
Read More »Expired Tax Relief Could Increase Pressure on Troubled Borrowers
The Mortgage Forgiveness Debt Relief Act's (MFDRA) expiration may lead to negative pressure on liquidation timelines and recoveries for legacy U.S. mortgage investors if the act is not renewed, according to Fitch Ratings. Recently expired as of January 1, the ...
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