Foreclosure

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).

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.

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.

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.

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.

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.

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.

More than 300 attendees gathered at the InterContinental New Orleans June 3-5 to participate in the Loan Management & Servicing Seminar presented by USFN—America’s Mortgage Banking Attorneys.

The Sacramento, California-based real estate tracking and research company ForeclosureS.com says its market data shows that many areas of the country are now experiencing rebounds, with declining foreclosures, increasing home sales, and even increased average sale prices.

The number of foreclosures in Massachusetts declined by double-digit percentages in May compared to last year and the prior month, according to the latest report from the Boston-based real estate research company The Warren Group.