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Tag Archives: Foreclosure

SunTrust Cooperating with Foreclosure Fee Investigation

In a quarterly filing released Wednesday, SunTrust Banks, Inc. announced that it was cooperating with a government probe into fees and expenses charged by law firms for services related to foreclosing upon delinquent loans guaranteed by Fannie Mae and Freddie Mac.

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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 ...

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RMBS Liquidations Increase for the First Time in Almost Two Years

Annualized liquidations of United States RMBS loans increased last quarter for the first time in seven quarters, according to a report issued Monday by Fitch Ratings. The conditional default rate increased in Q2 2014 to 4.92 percent after nearly two years of declines from 9.76 percent in Q2 2012. The previous decline was spurred on by shrinking inventories of distressed properties and a decrease in the use of short sales.

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HUD: Housing Outlook Good, More to be Done

U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of the Treasury released the June edition of the Obama Administration's Housing Scorecard Thursday. It paints a picture of a housing market that is improving but still subject to ebbs and flows of the broader economy.

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CFPB Issues Ruling to keep Heirs from Falling into Foreclosure

The Consumer Financial Protection Bureau (CFPB) issued guidance Tuesday aimed at making it easier for surviving family members who have inherited a property due the death of a loved one to be added to the mortgage, allowing them to seek modification or refinance and avoid foreclosure.

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Foreclosures Down Again in May

Corelogic reported on Tuesday that 47,000 foreclosures had been completed in May, a year-over-year decrease of 9.4 percent from May of 2013. As of May, about 660,000 homes, 1.7 percent of all homes with a mortgage, in the United States were in some stage in the foreclosure process. While still large number, it represents a 37 percent decrease from May of 2013 when the foreclosure inventory topped one million homes.

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New York AG Announces State Loan Program to Prevent Foreclosures

The government of New York is taking further steps to try to stem the tide of foreclosures that still lingers in the Empire State today. New York Attorney General Eric T. Schneiderman announced the launch of the New York State Mortgage Assistance Program, or NYS MAP, which will provide targeted small loans to families with the aim of helping them avoid foreclosure.

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