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Foreclosure

Builders Raise Own Appraisal Concerns

Appraisal practices have taken center stage lately with the roll out of the new Home Valuation Code of Conduct (HVCC) by the GSEs. And now, the National Association of Home Builders (NAHB) has raised its own concerns over valuations of foreclosures, REOs, and short sales.

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Bank Regulators Report Mod Increase

Loan modifications made by mortgage lenders and servicers spiked during the first quarter of the year, according to a report issued Tuesday by the Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision (OTS).

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USRES Unveils Property Leasing Solution

US Real Estate Services Inc. (USRES), a national provider of REO management services headquartered in Lake Forest, California, has announced the launch and immediate availability of a new service – USRES Property Management.

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Gov. Kicks Off Housing Program Campaign

Government officials joined forces with local leaders in Miami on Friday to kick off a nationwide campaign to promote the federal Making Home Affordable program and the options available to struggling homeowners.

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LPS: Foreclosure Starts On The Rise

Jacksonville, Florida-based Lender Processing Services (LPS) says foreclosure starts have increased to their second highest level since the company began keeping records in 1992. LPS released its June Mortgage Monitor Report last week, which provides mortgage industry performance indicators based on data collected as of May 31.

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Arizona Realtor Opens Online Bidding

Phoenix-area Realtor Jason Hall has launched a new Online Home Bidding service that he says will make selling real estate in the foreclosure-ravaged metro easier. The portal allows potential homebuyers to seek out Phoenix properties – including foreclosures and bank owned properties – from anywhere that has an Internet connection, submit a bid of interest, and then start taking the steps to buy a home.

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Indiana Mandates Pre-Foreclosure Notices

A new Indiana law, set to take effect July 1, requires mortgage lenders and servicers to provide homeowners facing foreclosure in the state with a pre-suit notice at least 30 days before a foreclosure action is filed.

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NBA All-Stars Take on Miami Foreclosures

Miami Heat basketball star Dwyane Wade and retired Heat center Alonzo Mourning harnessed their celebrity influence Thursday to raise awareness of the foreclosure crisis in Miami and the affordable, certified resources available to struggling homeowners.

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