Category: News and Trends

HOPE NOW reported 113,000 mortgage assistance actions by its members in October as foreclosure sales reached a nearly 10-year low.

Overall credit default rates, including first mortgage defaults, held steady in November, S&P Dow Jones Indices and Experian reported yesterday.

Another sign of the sea change taking place in the U.S. mortgage servicing industry is in the rapid growth of portfolios among smaller companies, said Fitch Ratings, New York.

MBA Servicing NewsLink will not publish on Tuesday, Dec. 27 because of the Christmas holidays.

CoreLogic, Irvine, Calif., reported 30,000 completed foreclosures by lenders and servicer in October, down by 25 percent from a year ago and down by 75 percent from the Sept. 2010 peak.

The Federal Housing Finance Agency yesterday issued a final rule to implement Duty to Serve provisions mandated by the Federal Housing Enterprises Financial Safety and Soundness Act and the SAFE Act.

ATTOM Data Solutions, Irvine, Calif., said 86,561 U.S. properties were in foreclosure activity in November, down 18 percent from October and down 17 percent from a year ago.

Zillow Inc., Seattle, said rising home values are freeing homeowners from negative equity, allowing them to re-enter the market, but 11 percent of homeowners remain upside-down, or underwater, on their property.

Fitch Ratings, New York, said “strong due diligence is firmly in place” for most post-crisis U. S. residential mortgage-backed securities.

An explosion of mobile capabilities, a worldwide financial crisis that shook consumer confidence and a still-developing regulatory response have changed the way customers interact with their banks.