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Tag Archives: HOPE NOW Alliance

Servicers Increase Mods and Short Sales in Q3: HOPE NOW

In the third quarter of this year, servicers increased the pace at which they completed proprietary modifications and short sales, HOPE NOW data revealed Monday. In Q3 2012, proprietary modifications, or non-government mods, stood at 186,057 compared to 161,764 in Q3 2011, representing a 15 percent annual gain, according to the alliance. Quarter-over-quarter, proprietary mods were up 41 percent compared to Q2 2012, when there were 131,556 completed mods.

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HOPE NOW: 5.75M Loan Mods Since 2007, Short Sales Up in August

August data from HOPE NOW revealed mortgage servicers gave an estimated 75,968 homeowners permanent loan modifications during the month. In July, total loan modifications was higher at 82,679. HOPE NOW also reported the industry has seen 5.75 million loan modifications since 2007. Of those modifications, about 4.68 million were proprietary loan modifications, while more than 1 million were from HAMP.

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HOPE NOW Visits Military Bases to Assist Servicemembers

After rounding out its fourth military homeowner event, HOPE NOW announced more events are to come. In September, HOPE NOW hosted an event in Fort Bragg, North Carolina, which attracted 60 attendees, and another event at joint Base Lewis-McChord in Washington, where 142 military families were able to receive assistance.

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HOPE NOW: Proprietary Loan Mods Up 43% in July

The number of homeowners who received permanent, affordable proprietary loan modifications jumped up 43 percent from June to July, HOPE NOW reported Wednesday. The voluntary, private sector alliance of mortgage professionals and non-profit counselors released its July 2012 loan modification data, revealing that an estimated 66,002 homeowners received proprietary loan modifications in July, an increase from 46,208 in June.

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HOPE NOW Reports 385K Loan Mods in First Half of 2012

The first half of 2012 saw more than 385,000 permanent loan modifications for struggling homeowners, HOPE NOW reported Tuesday. The voluntary, private sector alliance of mortgage professionals and non-profit counselors released its June 2012 data, showing that 385,468 homeowners received permanent loan modifications for the first half of the year.

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HUD, Treasury Host Event for Troubled Homeowners in Maryland

The Department of the Treasury and HUD announced Wednesday that they are hosting a free event for struggling homeowners in Maryland. The event will be the Obama administration's 75th occasion designed to bring together the nation's largest mortgage servicers, local HUD-approved housing counseling agencies, non-profits, and government partners to assist homeowners struggling to avoid foreclosure.

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Housing Scorecard Examines Hobbled Recovery

HUD and Treasury Department released the latest scorecard Friday, providing a look at a market in recovery but threatened by an expected increase in foreclosure activity. According to the report, foreclosure starts and completions both declined in June, painting a picture of continued recovery. However, officials expect foreclosure activity to pick up in coming months as firms lift delays in foreclosure processing.

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HOPE NOW Reports 38,000 Short Sales in May

HOPE NOW released its May loan modification data Monday, revealing that the month saw nearly 38,000 completed short sales. The May short sale total brings the organization's overall total (since December 2009) to nearly 906,000. In addition, HOPE NOW reported that an estimated 63,000 homeowners received permanent, affordable loan modifications during the month, 17,590 of which were completed under HAMP.

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HLP Launches Online Portal for Foreclosure Mediation

Together with GMAC Mortgage and the state of Maryland, HLP created the Portal as a way to ease the process by which homeowners can opt in for Maryland's foreclosure mediation program. Before now, homeowners have had to submit paper copies of documents to the state's Office of Administrative Hearings. With the added option of electronic submission through the Portal, it is hoped that more homeowners will take the step to opt in for mediation.

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Hope Now Reports Lower Loan Modifications Than Previous Month

Despite reporting 43,000 proprietary loans in April, 8 percent lower than the previous month, Hope Now continues to reach out and stay in contact with at-risk borrowers. Foreclosure sales also declined in April to approximately 60,000 completed compared from 66,000 in March. Delinquencies of 60 days or more remained relatively flat for the month at 2.52 million. Delinquency data is extrapolated from data received by the Mortgage Bankers Association for the first quarter of 2012.

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