News

The number of foreclosure filings, which include default notices, schedule auctions, and bank repossessions (REOs), increased by 15 percent from September to October, the largest month-over-month jump since the peak of foreclosure activity in March 2010, according to RealtyTrac's October 2014 U.S. Foreclosure Market Report released Thursday.

A surge in foreclosure activity for Maryland in October pushed the state into the top spot among states with the highest foreclosure rate in the nation, according to RealtyTrac's October 2014 U.S. Foreclosure Market Report released Thursday.

President Barack Obama will nominate Antonio Weiss, global head of investment banking at merger-advisory firm Lazard Ltd., for U.S. Treasury Under Secretary, the top domestic finance position with the government organization, according to a statement released by the White House.

The issue is a commonly cited problem for younger first-time homebuyers, who, in addition to facing tight mortgage criteria, also have to clear the hurdle of saving for a down payment.

NCUA's complaint deals with credit unions U.S. Central, WesCorp, Members United, Southwest, and Constitution, all of which were involved in the purchase of $140 billion in RMBS between 2004 and 2007 and all of which closed after those securities lost value.

Lewisville, Texas-based Nationstar Mortgage Holdings Inc. has announced the hiring of Kal Raman, a leading technology executive, as CEO of the company's wholly owned subsidiary, Solutionstar.

Nearly a third of panelists took a more optimistic view, predicting the market will stabilize one to two years from now, while one in five responded that housing has either already returned to normal or will within the next 12 months.

A gauge released this week shows the labor market improved at a moderate pace in October, with previous measures also seeing a lift in revision.

Atlanta-based mortgage servicer Ocwen Financial is facing trouble again, this time from a lawsuit accusing the company of illegally marking up its default servicing fees, according to court records.

The percentage of September's foreclosure starts that were repeat foreclosures rose by two percentage points month-over-month to account for 53 percent of foreclosure starts, tying the highest percentage for a single month, according to Black Knight Financial Services' September 2014 Mortgage Monitor.