Tag Archives: Foreclosure

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.

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.

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.

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.

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.

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.

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.

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.

Fannie Mae recently released a report revising the waiting periods for borrowers with a derogatory credit event such as a foreclosure, bankruptcy, short sale, or deed-in-lieu of foreclosure on their credit history to obtain a new loan.

For the 11th consecutive month, Florida owned the highest foreclosure rate in the nation, according to RealtyTrac's monthly U.S. Foreclosure Market Report for August 2014 released Thursday.