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.
Read More »Servicers Need to be ‘Creative’ With Loan Modification
A panel of experts at the Servicing Lab at the Five Star Conference on Tuesday agreed that in order for loss mitigation to be effective in 2014 and heading into the future, servicers must find new and inventive ways to execute.
Read More »Compliance Has Made Foreclosure Process Complicated, Experts Say
One resounding theme of the Foreclosure Lab at the Five Star Conference on Monday was clear – throwing compliance into the equation has made the foreclosure process way more complicated than it used to be because the industry is so much more regulated than it was as recently as five years ago before the passage of the Dodd-Frank Act.
Read More »Colorado Sees Unusual Foreclosure Surge in August
Foreclosure activity took a significant upward turn in the historically foreclosure-slow state of Colorado in August, according to RealtyTrac's monthly U.S. Foreclosure Market Report for August 2014 released September 11.
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