Foreclosure

The process of eviction has become more heavily regulated in recent years right along with the rest of the housing industry, mainly by the Protecting Tenants at Foreclosure Act (PTFA) of 2009.

A panel of experts at the Servicing Lab at the Five Star Conference on Tuesday agreed that in order for loss mitigation to be effective in 2014 and heading into the future, servicers must find new and inventive ways to execute.

The total number of homeowners receiving permanent loan modifications declined in July, as did the number of modifications made under the Home Affordable Modification Program (HAMP), according to figures released this week by HOPE NOW. Meanwhile, foreclosure starts rose a little more than 1,000 from June to settle at 70,401.

One resounding theme of the Foreclosure Lab at the Five Star Conference on Monday was clear – throwing compliance into the equation has made the foreclosure process way more complicated than it used to be because the industry is so much more regulated than it was as recently as five years ago before the passage of the Dodd-Frank Act.

The number of residential properties repossessed by lenders by way of foreclosure in August declined on a year-over-year basis for the 21st consecutive month, according to RealtyTrac's monthly U.S. Foreclosure Market Report for August 2014 released September 11.

Foreclosure activity took a significant upward turn in the historically foreclosure-slow state of Colorado in August, according to RealtyTrac's monthly U.S. Foreclosure Market Report for August 2014 released September 11.

Foreclosure activity skyrocketed in New Jersey for the month of August, giving the Garden State the fourth highest foreclosure rate in the nation, according to RealtyTrac's monthly U.S. Foreclosure Market Report for August 2014 released September 11.

Fannie Mae recently released a report revising the waiting periods for borrowers with a derogatory credit event such as a foreclosure, bankruptcy, short sale, or deed-in-lieu of foreclosure on their credit history to obtain a new loan.

For the 11th consecutive month, Florida owned the highest foreclosure rate in the nation, according to RealtyTrac's monthly U.S. Foreclosure Market Report for August 2014 released Thursday.

The number of foreclosure filings in the nation has increased month-over-month but declined year-over-year, according to RealtyTrac's monthly U.S. Foreclosure Market Report for August 2014 released today.