Home / News / Loss Mitigation (page 20)

Loss Mitigation

Loan Mods Down, Foreclosure Starts Up in July

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.

Read More »

Fannie Mae Relaxes Waiting Period for Distressed Borrowers

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.

Read More »

Avenue 365 Hires Tiberio as VP of Default Services

Avenue 365, a Pennsylvania-based national title insurance and settlement services provider, has announced the hiring of David Tiberio as vice president of default services and as a national account manager.

Read More »

Firm to Sell $2.3 Billion in Nonperforming Loans for HUD

Online marketplace exchange DebtX has announced its intention to sell 15,000 nonperforming residential loans for the U.S. Department of Housing and Urban Development (HUD) as part of the agency's Single-Family Loan Sale (SFLS) program. The unpaid principal balance of the loans amounts to about $2.3 billion. The bid is scheduled for September 30. The loans will be sold in eight national pools ranging from $94.5 million to $804.5 million.

Read More »

HUD: Loan Sales Cut Insurance Losses, Reduced Foreclosures

The U.S. Department of Housing and Urban Development (HUD) announced in a report released last week it has sold $15.8 billion in nonperforming loans since 2010, cutting losses to its insurance fund and saving thousands of homeowners from foreclosure.

Read More »

Fannie Mae: Serious Delinquency Rate At Lowest Level Since ’08

In Fannie Mae's July 2014 Monthly Summary released on August 29, the GSE reported that July's serious delinquency rate of 2.0 percent for single-family properties is at its lowest level since October 2008.

Read More »

Michigan-Based Bank Discussing Settlement With CFPB

Flagstar Bancorp, Inc. announced earlier this week that it has filed a Form 8-K with the U.S. Securities and Exchange Commission (SEC) in order to notify its investors that the bank is currently trying to work out a settlement with the Consumer Financial Protection Bureau (CFPB) regarding alleged violations of financial laws.

Read More »

Secondary Market, Decreased Sales Fuel Freddie Mac Portfolio Growth

Freddie Mac's single-family refinance-loan purchase and guarantee volume was $9.2 billion in July, representing about 40 percent of total new single-family mortgage portfolio activity. Relief refinance mortgages accounted for 20 percent of the company's single-family refinance volume based on unpaid principal balance.

Read More »

High Negative Equity Among Gen-Xers Causing Housing Gridlock

Nearly 43 percent of homeowners between 35 and 49 are underwater on their mortgages. In contrast, only 15 percent of millennial homeowners (those between 20 and 34 years old) and 31 percent of baby boomers (50 to 64 years old) are underwater.

Read More »

GET YOUR DAILY DOSE OF DS NEWS

Featuring daily updates on foreclosure, REO, and the secondary market, DS News has the timely and relevant content you need to stay at the top of your game. Get each day’s most important default servicing news and market information delivered directly to your inbox, complimentary, when you subscribe.