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 »Report: Foreclosure Filings Rise Monthly, But Fall Annually
The number of foreclosure filings in the nation has increased month-over-month but declined year-over-year, according to RealtyTrac's monthly U.S. Foreclosure Market Report for August 2014 released today.
Read More »New York AG Pushing Legislation to Stop ‘Zombie Foreclosures’
New York Attorney General Eric T. Schneiderman and others have made a big push in recent months to pass legislation to prevent so-called "zombie foreclosures," which have become a significant problem in the state.
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 »MCS Appoints Vincent as New CFO
Mortgage Contracting Services (MCS), a Plano, Texas-based company that provides property inspection, property preservation, REO property maintenance, and valuation services to the financial industry nationwide, has appointed Bart R. Vincent as its chief financial officer.
Read More »CoreLogic: Falling Foreclosure Inventory in June
CoreLogic published its monthly National Foreclosure Report with data from June 2014, which indicates that foreclosure inventory is down 35 percent from June last year. Foreclosures fell from 54,000 to 49,000 on a year-over-year basis. The report further indicated that foreclosure ...
Read More »Cyprexx Responds to Discrimination Complaint
This week, Cyprexx Services became the latest company to come under fire from the National Fair Housing Alliance (NFHA). The group announced on Tuesday that they would be filing a complaint with the Department of Housing and Urban Development, accusing ...
Read More »Five Star Institute Assembles FORCE Advisory Board
In Dallas, the Five Star Institute announced the formation of the advisory board for the Federation of REO Certified Experts (FORCE) for 2014–2015.
Read More »Fay Servicing Opens REO Division
Fay Servicing, a Chicago based diversified mortgage company, announced intentions to expand its portfolio by launching an REO division. Glenn Brooks has been selected to head up the new department, serving as Senior Vice President. In that role, Brooks will provide strategic direction and manage outside relationships vital the division’s success.
Read More »REO Inventory Rising Again
The number of REO properties increased to 430,000 as of March 2014, according to a new blog post by CoreLogic’s Sam Khater. March's figure reflects an increase of 15 percent from the low point of REO inventory in August 2013, when properties totaled 375,000.
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