For Q2, the number of workout solutions outpaced completed foreclosures by the count of 411,000 to 89,000, which calculates to an average of 4.6 solutions for every foreclosure sale during the quarter.

Ask the Economist is an ongoing series in which DS News talks with an economist about the most pressing issues facing the nation's housing industry and the economy. This installment features Amy Crews Cutts, SVP and Chief Economist with Equifax.

The Atlanta-based servicer's outreach, which is scheduled to take place in 10 cities across California, New York, Illinois, Wisconsin, and Florida, is part of Ocwen's continued effort to partner with community leaders and non-profit housing organizations to provide solutions to struggling homeowners.

The controversial Dodd-Frank Wall Street Reform and Consumer Protection Act just passed its five-year anniversary on July 21, and lawmakers and other stakeholders have never been more divided as to its effectiveness (or lack thereof) as they have been recently, according to CoreLogic's August 2015 MarketPulse released this week.

FHFA said that going forward it will set specific goals in the annual conservatorship scorecard and work closely with staff members at Fannie Mae and Freddie Mac to help the GSEs develop and evaluate their credit risk transfer structures. FHFA is encouraging the GSEs to continue engaging in large volumes of meaningful credit risk transfer.

Aspen Grove Solutions, a Maryland-based provider of property-centric technology solutions to the financial and mortgage services industry, has announced the addition of Atlanta-based nationwide property preservation and inspection company MB Field Services to their list of clients.

The delinquency rate (percentage of properties 30 days or more overdue but not in foreclosure) dropped by 16 percent year-over-year down to 4.71 percent, nearly reaching its lowest point since the crisis. That share of 4.71 delinquent properties represents about 2.39 million loans nationwide. The number of properties in foreclosure pre-sale inventory dropped by 24 percent year-over-year in July down to 711,000.

The lawsuit, filed in the U.S. District Court for the Southern District of New York, claims that BNY Mellon "shirked its duty" as a bond trustee to make sure that the securities were not defective.

The indicators used in the rankings include sales/listing activity and prices, months of remaining inventory, days on market, sold-to-list price ratio, and foreclosure percentage and REO activity.

Fannie Mae announced the winning bidder for its second-ever sale of deeply delinquent non-performing loans (NPLs) on Thursday, which included approximately 3,900 loans.