Mortgage Settlement Monitor: Banks Need to Regain Customers’ Trust
Monitor Joseph A. Smith Jr. The big U.S. mortgage servicers are still failing to completely hold up their end of the deal known as the National Mortgage Settlement, which aims to provide new...
View ArticleForeclosure Inventory Down to 2.2% of All Homes with a Mortgage
The abundant foreclosure inventory across the U.S. is easing as 48,000 foreclosures were completed in October 2013, a 30 percent year-over-year decline from 68,000 in October 2012, according to...
View ArticleFirm Hired by Bank of America Helped Stall Foreclosure-Relief Efforts, Report...
Colorado-based Urban Lending Solutions is far from the headquarters of Bank of America, the nation’s second-largest bank based in in Charlotte, North Carolina. But the firm founded by Chuck Sanders, a...
View ArticleOcwen, largest Nonbank Mortgage Servicer, to Pay $2B in Relief to Wronged...
The nation’s largest nonbank mortgage loan servicer, Ocwen Financial Corp., and its subsidiary, Ocwen Loan Servicing, will provide $2 billion in principal reduction to “underwater” borrowers as part of...
View ArticleShort Sales & Taxes: Will Lawmakers Revive ‘Mortgage Debt Relief Act’?
Since 2007, the federal Mortgage Debt Relief Act has helped distressed homeowners who have had mortgage debt forgiven after a foreclosure, short sale, or loan modification. The law made it possible for...
View ArticleFeds: HAMP’s 2nd-Lien Program at 123,000 Modifications
U.S. Treasury and Housing officials released the latest update on the government’s mortgage modification program Friday, including new data on its Second Lien Modification Program (2MP). More than...
View ArticleForeclosure Crisis Tally: 4.7M Homes Lost Since Sept. 2008
CoreLogic reports that 46,000 foreclosures were completed in November 2013, a 29 percent year- over-year decline from 64,000 in November 2012. Although the most recent update from CoreLogic shows a...
View ArticleIndependent Foreclosure Review: 732,000 Checks Not Cashed 1 Year Later
It’s been a year since federal regulators announced an agreement with more than a dozen mortgage servicers to settle wrongful foreclosures or mortgage-modification abuses affecting more than 4.2...
View ArticleInvestors vs. Borrowers: All-Cash Purchases Surge to 42% of Home Sales
If you are a first-time home buyer, or the average mortgage seeker, you are competing with deep-pocketed, all-cash investors in some hot U.S. markets — and you’re likely getting bumped out of...
View ArticleMonthly Completed Foreclosures Still Double What They Were Pre-Crisis
CoreLogic’s most recent analysis released Wednesday shows 45,000 foreclosures were completed in December 2013, a 14 percent year-over-year decline from 52,000 in December 2012. On a month-over-month...
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