The number of U.S. homeowners who were seriously underwater in the third quarter declined 11 percent from the previous quarter, hitting its lowest level in more than two years, according to RealtyTrac's Q3 2014 Home Equity & Underwater Report released Thursday.
Read More »KML Law Group Hires Senior Counsel
Pennsylvania-based law firm KML Law Group, a firm devoted to mortgage foreclosure, bankruptcy, ejectment, REO closing, and other real estate matters for secured real estate lenders, has announced that John F. Goryl, Esquire, has joined the firm as senior counsel as of October 1, 2014.
Read More »Lenders Appeal Court Decision Allowing HOAs to Extinguish Mortgages
Several mortgage lenders have asked the Nevada Supreme Court to reverse a decision it made in September that a homeowners association's (HOA) super priority lien can extinguish a first deed of trust nonjudicially on a residential property.
Read More »Delaware Court Rules in MERS’ Favor Over Assignment of Mortgage
MERSCORP Holdings gained yet another legal victory earlier this week, this time in Delaware. In a suit brought about by a disgruntled mortgagor over whether or not MERS had the authority to assign a mortgage, a Delaware court ruled in MERS' favor.
Read More »Report: Distressed Homes Sold at Less Than Half Price in Eight States in August
Eight states reported a median sales price for distressed homes at less than half the sales price of non-distressed homes in August, according to a report recently released by RealtyTrac.
Read More »OCC: Loan Mods Lowered Monthly Payments for 91 Percent of Borrowers
More than 91 percent of borrowers nationwide who received mortgage loan modifications in the second quarter of 2014 had their monthly principal and interest payments reduced, while 56.1 percent of borrowers lowered their monthly payments by 20 percent or more, according to a report released earlier this week by the Office of the Comptroller of the Currency (OCC) regarding first-lien mortgages at large national and federal savings banks.
Read More »OCC: Mortgage Performance Up, Foreclosures Down
The Office of the Comptroller of the Currency (OCC) reported that 92.9 percent of mortgages nationwide were performing as of the end of June, according to the OCC Mortgage Metrics Report, Second Quarter 2014. The number of performing mortgages increased slightly from Q2 2013, when 90.6 percent of mortgages were reported as performing.
Read More »Foreclosure Inventory Falls, But Delinquency Rate Rises in August
Foreclosure inventory is down nationwide, but delinquency rate is up, according to Black Knight Financial Services' "First Look" at August Mortgage Data released on September 25.
Read More »Distressed Home Sale Prices Increase in August
The August median price of U.S. distressed homes climbed both monthly and annually, according to RealtyTrac's August 2014 U.S. Residential and Foreclosure Sales Report released on Sept. 25.
Read More »PTFA Has Given Tenants More Options When Facing Eviction
The process of eviction has become more heavily regulated in recent years right along with the rest of the housing industry, mainly by the Protecting Tenants at Foreclosure Act (PTFA) of 2009.
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