REO

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.

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.

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 ...

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 ...

In Dallas, the Five Star Institute announced the formation of the advisory board for the Federation of REO Certified Experts (FORCE) for 2014–2015.

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.

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.

RealtyTrac's latest U.S. Foreclosure Market Report for April 2014, revealed foreclosure filings were down 1 percent from March, totaling approximately 115,000. April's figure reflects a year-over-year decrease of 20 percent.

The mortgage delinquency rate declined to 3.61 percent at the end of the first quarter of 2014, according to TransUnion's latest mortgage report. Overall, the mortgage delinquency rate has dropped 24 percent in the last year, and has experienced nine consecutive quarters of decline.

In a letter sent Monday to Ocwen Financial Corporation's General Counsel Timothy Hayes, New York State Department of Financial Service’s (NYSDFS) superintendent Benjamin Lawsky questioned the financial giant on business dealings related to a relationship between Ocwen and Altisource Portfolio Solutions.