· Most troubling is the fact that the home mortgage foreclosure rate spiked 46% in March from a year ago, hitting a record high. A record 5.4 million Americans are delinquent on their mortgage loans, or are already in foreclosure. A record 20 million Americans now owe more on their mortgage loans than their homes are worth. Home prices plunged a record 19% in the 1Q.
Foreclosures Drop 3% in May as Lenders Tackle Backlog: RealtyTrac Freddie could take more than a decade to unload REO inventory Father of securitization doubts easy return to private mortgage bonds
This is why Trump’s election is causing the recent uptick in interest rates No One Person Or Agency Controls Mortgage Rates. This is why mortgage rates and bank rates sometimes do not follow the same trends. In a similar sense, the new administration – like the old one – has no direct say over mortgage rates. It can’t issue a news release raising or lowering real estate loan costs.
· In Michigan, for example, only 3 percent of all home loans are in foreclosure, and in California, that rate is down to 3.29 percent. Both states had been among the leaders during the housing bust. Jeffrey Otteau, an appraiser and New Jersey real estate market analyst from East Brunswick, said the problem for the Garden State is only going to get worse.
According to state officials, there are 20000 active foreclosure cases. with Realty Trac reporting one of every 1,006 homes in some stage of. the banks that hold mortgages and servicers that process payments. courts have reduced the foreclosure backlog and shortened the time it takes to clear cases.
("Number of the Week: 103 Months to Clear Housing Inventory", Mark Whitehouse Wall Street Journal) A 9-year backlog of homes. No wonder the yield on the 10-year Treasury is under 3. RealtyTrac.
$1.2 billion Fannie, Ginnie bulk MSR portfolio for sale Fannie Mae Negotiated Bulk Transaction Overview. We receive your loan data and complete a bulk sale analysis. Our team of experts in data management, credit risk, capital markets and deal structuring will. To find out how we can help with your portfolio needs, contact your Fannie Mae.More Than Half of 2006 Vintage Now Underwater, Zillow Says Americans Gambling on Rates With Most ARMs Since 2008 – Hopefully prices have bottomed so we won’t be underwater then. according to Zillow Inc., the biggest second-quarter gain since 2004. Sales of new properties rose more than forecast in June to the.Obama Administration stays cautious about mortgage-servicing issues 3 Center for American Progress | What the Fair Credit Reporting Act Should Teach Us About Mortgage Servicing worthy homeowners, has been plagued by slow action by servicers. For instance, Bank of America Corp. did not complete a single permanent mortgage modifica-tion by the end of 2009, and the attorneys general in two states brought a new law-
Foreclosure activity dropped 3 percent from April to May, according to. every 400 U.S. housing units. RealtyTrac says the data confirms that foreclosure activity is leveling off, even as lenders. ("Number of the Week: 103 Months to Clear Housing Inventory", Mark Whitehouse Wall Street Journal) A 9-year backlog of homes.
According to a recent report by Corelogic “House prices are up 6.3% year-over. news is that overall foreclosure activity continues to fall and a decline in new foreclosures are leading the drop..
Richard Cimino named SVP at LRES Zillow: 30-year FRMs drop for second week in a row For the second week straight, mortgage interest rates declined, according to the latest freddie mac Primary Mortgage Market Survey.The report has shown the 10-year Treasury yield rise by 5 basis points for the week ending July 27, 2017 while the 30-year fixed-rate mortgage dropped by 4 basis points to a new low.Wells Fargo standing by accuracy of foreclosure affidavits Court Decisions in Mortgage & Foreclosure Cases – foreclosure if not paid. This Security Instrument does not authorize acceleration of foreclosure if not permitted by regulations of the Secretary.” Mortgage, 12/20/01, Exhibit “A” of Complaint. 3 Wells Fargo held the note and provided service for the loan until December 2009.Richard F. Cimino President, Clinical Development, Periapproval, IVRS and Central Diagnostics businesses and Corporate Senior Vice President Covance, Inc. Mr. Cimino has been a director of Bio-Imaging since February 2005. Mr. Cimino joined Covance, Inc. in December 2003.
Research firm RealtyTrac says that foreclosures dropped in May to 322,920, down 3% from April and 1% from a year ago. overall foreclosure activity leveling off while lenders work through the.
Mortgage Delinquencies Pass 10%: LPS. Home-loan delinquency rates in the US reached 10% in December, up from the record-high 9.97% in November, according to Lender Processing Services. which provides data on mortgage performance. Accounting for foreclosures in the pipeline, the total non-current rate stands at 13.3%..
June Kudos: Celebrating milestones, launches and awards in the mortgage industry "It is a proud moment for our team to celebrate our 1,000th subscriber alongside these accolades by the american business awards," says Joe Murphy. disruption in the financial services industry.".