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New Report Says Foreclosures Could Top 8M by 2012

An estimated 8.1 million homes in the United States, or 16 percent of all outstanding mortgages, will be foreclosed over the next four years, according to a recent research and analytics report issued by the 152-year old financial institution Credit Suisse.

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First American Launches Post-Closing Doc Management Portal

First American Document Solutions, a post-closing and servicing solutions provider and a First American Corporation company, has announced the availability of ePostClosing.com, its new online portal designed to help lenders and servicers reduce their post-closing document management costs and improve investor compliance.

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Ocwen Reports on Success of Customized Loan Mod Program

West Palm Beach, Florida-based Ocwen Financial Corporation, one of the nation’s largest servicers of subprime mortgages, has reported solid success with its program to modify substantial numbers of troubled loans in a way that avoids redefault, and keeps borrowers in their homes and loans performing for investors.

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Arizona Receives Funding for Foreclosure Prevention Counseling

The Arizona Department of Housing (ADOH) announced last week that it has received $683,060 to support the continuation of the state’s foreclosure prevention counseling efforts. The much-needed boost will enable an existing network of 13 community-based organizations across Arizona to provide continued assistance to homeowners in danger of foreclosure, ADOH said in a press statement.

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