According to a report on PR Newswire earlier this week, mortgage fraud activity dropped during the third quarter. This conclusion was based on data from the FraudBlogger Index published by MortgageDaily.
Read More »New REO Program Reduces Sales Cycle by 30 Percent
Champion Mortgage, a division of Nationstar Mortgage LLC, announced the launch of its REO Financing Partner Program yesterday. The program, developed specifically with today’s distressed market conditions in mind, has shortened turn times on REO foreclosure sales by 30 percent, which in turn has helped decrease loss severity on REO properties by over 10 percent, the company said.
Read More »Visionet Rolls Out New REO Management Tool
Mortgage bankers and servicers require a comprehensive, flexible, and scalable REO management system that integrates with their own in-house and third party systems to provide automated workflow management and high visibility throughout the property management life cycle.
Read More »Nearly 2.5M Foreclosures Prevented, HOPE NOW Reports
HOPE NOW announced yesterday that, due to the continuing efforts of HOPE NOW and the broader mortgage industry, 2.47 million homeowners have avoided foreclosure and been able to stay in their homes since the organization began its efforts in July 2007.
Read More »Nielson & Sherry Appoint Director of Client Relations and Business Development
Nielson & Sherry, PSC, a Newport, Kentucky firm which handles concerns related to the mortgage, lending, default, and real estate communities, recently announced the appointment of Dan Israelson to the role of director of client relations and business development.
Read More »The Numbers of the GSE Takeover, and Counting
Between them, Fannie Mae and Freddie Mac own $5.4 trillion of the nation’s $12 trillion in residential mortgage debt. As part of the federal government’s takeover of the two government-sponsored enterprises (GSEs), the U.
Read More »Mortgage Applications Hit Eight-Year Low, According to Latest MBA Survey
The Mortgage Bankers Association (MBA) released its Weekly Mortgage Applications Survey for the week ending August 15, 2008 today. The new stats show mortgage applications declined only slightly from last week, but have now hit their lowest level since December 2000.
Read More »First American Launches New Loss Mitigation Tool
First American Default Technologies, a member of The First American Corporation family of companies and a provider of host-system integration technology to the mortgage default servicing industry, launched a new loss mitigation module as part of its VendorScape suite of solutions today.
Read More »Outside the Box, But Inside the Law
Michigan Paves the Way with Creative Techniques to Legally Avoid Costly Delays, Hasten Foreclosure and REO Sales When it comes to loss mitigation, quicker is almost always better. If the ultimate goal of every foreclosure is a clean, quick REO sale, avoiding delay by using creative methods can substantially improve results.
Read More »CampusMBA Offers Course in Loss Mitigation
All the turmoil in today’s mortgage banking sector has made the need for qualified loss mitigation professionals much more poignant. The Mortgage Bankers Association (MBA) says its education platform, CampusMBA, is prepared to meet this need through the launch of a new instructor-led workshop focusing on the practice of loss mitigation.
Read More »