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The latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey , released on Monday, has a pair of findings that should be distressing to lenders holding both foreclosed real estate (REO) and distressed mortgages. The survey data, gleaned from regular email surveys of 2,500 active real estate...
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(Sorry the commentary is a little late today. It took me a long time to wade through all of the investor price-change e-mails from yesterday. So let's all take a deep breath...) Q: How many auditors does it take to change a light bulb? A: Auditors don't change anything. They just report that it's dark...
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Almost 85 percent of large cities showed a decrease in foreclosure activity during the first six months of 2011 according to the Mid-year 2011 Metropolitan Foreclosure Market Report released on Thursday by RealtyTrac. This includes the ten cities with the highest foreclosure rate among the 211 metropolitan...
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I found the timing of this news to be extra interesting. WHY? Because the Consumer Financial Protection Bureau goes live today! Ironic isn't it? I'm sure consumer advocates and attorneys everywhere are loving this headline (note sarcasm). The recovery has to start somewhere.... ----------------- States...
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RealtyTrack has reported a generally downward trend in foreclosure filings since last fall, but the monthly variations tended to mask the magnitude of the trajectory. The mid-year report, released on Thursday, solidifies the impression of an improving situation. Foreclosure filings nationwide were down...
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Officials of both the Mortgage Bankers Association (MBA) and the Federal Deposit Insurance Corporation (FDIC) told Congress Thursday that resolution of the problems that have plagued the mortgage servicing industry through the housing and foreclosure crises must be resolved before the housing market...
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Could the end be near? There finally appears to be a developing trend of good news on the foreclosure front as filings of all types declined by two percent in May. This is now the eighth straight month that RealtyTrac's U.S. Foreclosure Market Report has shown a month-over-month drop and May filings...
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Foreclosed properties continued to impact the home sales market during the first quarter of 2011 according to a report released Thursday by RealtyTrac. Sales of bank-owned homes or those in some state of foreclosure represented 28 percent of all residential sales in the first quarter of 2011, up modestly...
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Last December the Mortgage Bankers Association (MBA) assembled a task force to examine and issue recommendations for the future of residential mortgage servicing. That group, the Council on Residential Mortgage Servicing for the 21st Century is led by Debra W. Still, President and CEO of Pulte Mortgage...
Posted to
MND NewsWire
by
Jann Swanson
on
Tue, May 24 2011
Filed under:
Filed under: Mortgage Bankers Association, foreclosure, loss mitigation, Loan Servicer, MBA Delinquency Survey, White Paper, STAR, Servicer Total Achievement and Rewards, State Attorneys, Servicer Settlment, Loan Servicer Reform, Servicer Compensation, Resolution Authority, Residential Mortgage Servicing in the 21st Century
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The National Association of Homebuilders (NAHB) reported on Monday that its Housing Market Index (HMI) came in at 16 for the sixth time in seven months. The HMI is a measure of builder confidence gleaned from homebuilders' responses to a monthly survey that has been conducted by NAHB for over 20 years...
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Foreclosure activity hit a 40 month low in April, posting a decline in all types of filings for the seventh straight month according to data released Thursday by RealtyTrac. One in every 593 U.S. housing units was subject to some form of foreclosure filing during the month. During the recently ended...
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The April edition of the Housing Scorecard has been issued by Treasury and the Department of Housing and Urban Development (HUD). It showed "continued mixed signals and some signs of weakness in the market - despite growing evidence of progress in the broader economy," according to Assistant HUD Secretary...
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Every foreclosure related report that issued during the last few months has increased certainty that the millions of delinquencies and foreclosures the country plaguing the country for the last three years are finally beginning to clear the system. The Mortgage Monitor Report released by Lender Processing...
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Federal Reserve Governor Elizabeth A Duke told a Community Affairs Research Conference on Thursday that, while every community across the country has been affected by the financial crisis, the results look different in each. The impact of foreclosed, vacant and abandoned properties that threaten neighborhoods...
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Lee Farkas, the former chairman of Taylor, Bean and Whitaker Mortgage Corp., was found guilty on all 14 charges stemming from a seven-year, multibillion-dollar fraud scheme that led to the collapse of his firm and Colonial Bank. Even the photo can make you cringe. WSJFarkas At this point Mr. Farkas is...