REO sales are down by 80 percent from their peak six years ago, but there are still plenty of affordable buying opportunities for homebuyers, according to a commentary by Chris Bowden, Freddie Mac's SVP of HomeSteps, the GSE's real estate sales unit.
Read More »Investors Gravitating Toward New Homes for Single-Family Rental Market
During the housing crash, big investors stocked up on thousands of foreclosed properties for single-family rentals with intentions of selling them when home prices recovered. But they didn’t.
Read More »Foreclosure Inventory and Serious Delinquencies Are Down to 2007 Levels
Foreclosure metrics were way down across the board again in July 2015, as pre-sale foreclosure inventory dropped to its lowest level since December 2007 and completed foreclosures were down by nearly 25 percent year-over-year, according to CoreLogic's July 2015 National Foreclosure Report released Tuesday.
Read More »Freddie Mac Announces Extensions of State Foreclosure Timelines in 34 Jurisdictions
Freddie Mac has announced that as part of the periodic review, state foreclosure timelines have been extended in 34 of 55 jurisdictions for all foreclosure sales completed on or after August 1, 2015.
Read More »Counsel’s Corner: Does the CFPB Really Understand Non-Judicial Foreclosures?
Counsel's Corner is an ongoing series in which DS News talks with default servicing attorneys around the country about the most pressing issues facing the default servicing industry. This installment features Angela Kleine, a partner in the San Francisco office of Morrison Foerster.
Read More »Foreclosures Hit 16-Year Low While Overall Household Debt is Little Changed
According to the New York Fed, foreclosures hit their lowest point in the 16-year history of the bank's Consumer Credit Panel, which uses anonymized Equifax credit data to generate a nationally representative sample.
Read More »CFPB’s Loss Mitigation Procedures Effectively Delay Foreclosure For Five Months
Counsel's Corner is an ongoing series in which DS News talks with default servicing attorneys around the country about the most pressing issues facing the default servicing industry. This installment features Daniel Callahan, a shareholder with Dallas-based firm Kessler Collins.
Read More »Mortgage Performance Improves Across the Board For Eight National Banks
Foreclosure activity declined substantially year-over-year in Q1. The number of properties in the process of foreclosure as of the end of the quarter dropped down to 299,424, a decline of 30.8 percent from the same quarter a year earlier. The nearly 300,000 loans in the process of foreclosure during Q1 comprised about 1.3 percent of the loans in the portfolio.
Read More »Democratic Senators Call For Investigation of Possible Discrimination in REO Maintenance
The Senators cited a recent report by the National Fair Housing Alliance (NFHA) which alleged that REO properties in minority-dominated neighborhoods were more than twice as likely to have deficiencies such significant amounts of trash and debris, and unsecured, broken, or damaged doors than REO properties in predominantly white neighborhoods.
Read More »More than 1.5 Million ‘Boomerang Buyers’ Could Re-Enter Mortgage Market In Next Three Years
The study found that only about 18 percent, or 1.3 million, out of the 7 million impacted consumers had recovered enough by December 2014 to meet agency credit underwriting guidelines. The study also determined, however, that 2.2 million of the remaining 5.7 million consumers could potentially meet those underwriting guidelines over the next five years.
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