Foreclosure

In the latest installment of the Five Star Webinar Series, Five Star and Brookstone Management will host a discussion about combating blight, returning foreclosed properties to the market, and protecting property values. Tune in for insights from Brookstone, Fannie Mae, and U.S. Bank.

Ewing, New Jersey-based mortgage subservicer names S. Courtney Collier-Beyer, Ajanta Jain, William Keller, Austin Stoop, and Terry Webb to new Director positions, while promoting Jacob Foerter, Andrea Leisten, and Laura Ann Pontelandolfo to new roles.

Rehabbing a home for profit can be an extremely lucrative proposition, but only if the project is treated like a business, as tight profit margins leave little room for mistakes.

Attorney Geoffrey K. Milne details a recent case involving the state of Connecticut’s Emergency Mortgage Assistance Program (EMAP), a program intended to assist homeowners in avoiding foreclosure.

With an estimated 2,200+ structures reported destroyed or damaged in Hawaii, 86% of them residential homes, the GSEs are offering guidance for homeowners impacted in the region.

As the nation continues to struggle with inflation and high mortgage rates, Fannie Mae and Freddie Mac completed more than 5,100 permanent loan modifications in May, according to the latest FHFA Foreclosure Prevention and Refinance Report.

Marina Walsh, CMB, MBA’s VP of Industry Analysis, reported that “FHA delinquencies rose 10 basis points compared to year ago levels. … As the economy slows and labor market cools, homeowners with FHA loans are likely to feel the distress first.”

ATTOM reports that nationwide, one in every 4,380 housing units reported a foreclosure filing in July 2023, with Maryland leading the pack with one in every 2,071 housing units reporting a foreclosure filing.

Those who move from renting to the homeowning game are not necessarily getting the full return out of their mortgages. A new report from Point2 found that homebuyers who trade their rent for a mortgage of the exact same amount (complete with fees and taxes) do not necessarily get more bang for their buck.

Members of the Board of the NRBA (National REO Brokers Association) were featured in a recent webinar discussing the next boom in REO business, and how to adjust your systems to deal with a growth in volume.