New York Gov. Andrew Cuomo has announced that the state, working through its Community Restoration Fund, has purchased 172 distressed mortgages in high-foreclosure areas, hoping to help keep the homeowners in their homes and avoid letting more abandoned properties fill ...
Read More »Foreclosure Starts and Completions Hit 17-Year Lows
Mortgage delinquencies hit a 23-month high as 2017 wrapped up, surging by 164,000 year-over-year, according to the latest Mortgage Monitor Report from the Data and Analytics Division of Black Knight, Inc. However, that figure only tells part of the story. ...
Read More »Looking for a Universal Solution
Law firm audits cost servicers millions of dollars annually while the firms spend tens of thousands of dollars per audit in employee time. The irony is that the bulk of the information requested is the same, so why hasn’t the industry been able to come up with a universal solution? It turns out the answer is already here.
Read More »Title Touches Everything: Streamlining Communications in Default Servicing
Title insurance and title-related products are an integral, and often expensive, part of the mortgage default process. Every aspect of default servicing touches title, from loss mitigation to REO disposition. Although many servicers have designed their internal functions, groups, and ...
Read More »Florida Ends Housing Aid Program With $88 Million Unspent
On Wednesday, the state of Florida ended three programs designed to distribute federal housing aid funds, all under the banner of the Florida Hardest-Hit Fund (HHF). While that in itself would be noteworthy, the decision to end the programs is ...
Read More »Massachusetts Supreme Court Ruling Clarifies Foreclosure Rights
A recent opinion in the Massachusetts Supreme Judicial Court clarified a sticking point regarding a mortgagee’s right to foreclose, in spite of some unclear wording in the original mortgage paperwork. The case was brought against James B. Nutter Company by ...
Read More »Appeals Court Expands Ohio Statute of Limitations Decision
Editor's note: This story was originally featured in the January issue of DS News, out now. Recently, the Ohio Eighth District Court of Appeals expanded upon the Ohio Supreme Court’s Holden decision. In Holden, the court had determined that a ...
Read More »Maryland Case Puts the Brakes on Foreclosures
Editor's note: This story was originally featured in the January issue of DS News, out now. On June 6, 2017, the Court of Special Appeals, Maryland’s intermediate appellate court, issued an opinion in the combined cases of Blackstone v. Sharma, Sept. 2015 ...
Read More »Hurricane Aftermath Continues to Affect Mortgage Delinquency
The state of mortgage delinquencies was a mixture of good news and bad news as 2017 wrapped up, according to a new report by Black Knight, Inc., a provider of integrated technology, data, and analytics for lenders and servicers. Today ...
Read More »Total FHFA Prevention Actions Edge Close to 4 Million
Collectively, Fannie Mae and Freddie Mac sealed 18,034 foreclosure prevention actions back in October, bringing the combined total to 3,990,723 since the GSE conservatorships launched in September 2008, so says the Federal Housing Finance Agency’s (FHFA) October 2017 Foreclosure Prevention Report. By ...
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