The U.S. Treasury cut a disaster relief loan to Puerto Rico by over 50 percent this week, according to the island’s Gov. Ricardo Rossello. This relief fund of $4.7 billion was provided in October, during the aftermath of Hurricane Maria, ...
Read More »Mortgage Delinquencies Dip, Foreclosure Starts Spike
Mortgage delinquencies dropped 8.6 percent between December and January, but remained up year-over-year, according to the latest First Look at January mortgage performance data from Black Knight, Inc. Black Knight cites calendar-related effects and a continued decrease in hurricane-related delinquencies ...
Read More »FHA Announces Expanded Mortgage Relief for Disaster Victims
The Federal Housing Administration (FHA) has provided additional relief to victims of the natural disasters that hit the nation in 2017. On Thursday, FHA announced expanded mortgage relief to FHA-insured homeowners who live or work in areas impacted by the ...
Read More »Texas Communities to Receive $1 Billion from FEMA
Texas coastal communities are still rebuilding after the impact of Hurricane Harvey last year. But in addition to rebuilding what was damaged or destroyed, the affected communities must also look to the future and prepare for future storms. FEMA is ...
Read More »FEMA Aid for Some Displaced Puerto Ricans Running Out
At the beginning of February, HUD announced that $1.5 billion in aid was being allocated toward Puerto Rico’s recovery from a brutal hurricane season, designed to “support long-term recovery of seriously damaged housing and local businesses in Puerto Rico,” according ...
Read More »Drop-In Centers Working to Assist Hurricane-Impacted Texans
It’s been six months since Hurricane Harvey made landfall in Texas, but many residents in the South Texas area are still trying to recover from the storm’s impact. Post-storm mortgage delinquencies spiked as affected homeowners missed payments or worked to ...
Read More »Early-Stage Mortgage Delinquencies Dropped in Q4 2017
According to the MBA’s Fourth Quarter 2017 National Delinquency Survey, general downward trends for mortgage delinquencies continued as 2017 wrapped up, even after the impact of a historically damaging hurricane season. "The 30-day delinquency rate actually dropped by 15 basis ...
Read More »Weathering the Next Storm in REO
It wasn’t the perfect storm, but more like a perfect series of storms: Harvey, Irma, and Maria all hit in swift succession. And while 2017 didn’t set the record for the number of 1,000-year storms (there were six in 2016), ...
Read More »Could New Jersey Help Abate Puerto Rico’s Foreclosure Crisis?
As the island continues its long recovery from the devastating impact of Hurricane Maria, Puerto Rico is on the cusp of a dire foreclosure epidemic. According to a December 2017 report by The New York Times, around one third of ...
Read More »Foreclosure Starts and Completions Hit 17-Year Lows
Mortgage delinquencies hit a 23-month high as 2017 wrapped up, surging by 164,000 year-over-year, according to the latest Mortgage Monitor Report from the Data and Analytics Division of Black Knight, Inc. However, that figure only tells part of the story. ...
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