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Tag Archives: Borrowers
As Mortgages Improve, Old Ills Still Hit Big Banks
“The five mortgage services that signed the National Mortgage Settlement are legally required to take specific, rigorous, and enforceable steps to protect homeowners,” Attorney General Schneiderman said. “Wells Fargo and Bank of America have flagrantly violated those obligations, putting hundreds … Continue reading
Posted in Real Estate News
Tagged Analytics, Bank Of America, Blecher, Borrowers, Commissioner Joseph, Consumer Complaints, Delinquencies, Delinquency, Ills, Joseph A Smith, Lps, Ltv, Mortgage Principal, Mortgage Services, National Mortgage, Negative Equity, Norms, Processing Services, Schneiderman, Wells Fargo
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Housing Recovery Leaves Some Behind
To add to the delays, now some non-judicial states are seeing a big jump in backlogs due to new state laws that while attempting to safeguard borrowers, are delaying the foreclosure process in general. Nevada instituted a new law criminalizing … Continue reading
Posted in Real Estate News
Tagged Backlog, Backlogs, Bank Repossession, Bill Of Rights, Borrowers, Distressed Loans, Distressed Properties, Foreclosure, Foreclosures, Home Values, Inventories, Liquidation, Mortgage Delinquencies, New Mortgage, Price Surge, Problem Loans, Processing Services, Rough Winter, Slowdown, State Laws
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US Homeowners Rise Above Water on Mortgages
The negative equity numbers also don’t say anything about whether or not the loans coming out from underwater are delinquent. While the overall delinquency rate dropped dramatically in the fourth quarter of 2012 to 7.09 percent of all loans, according … Continue reading
Posted in Real Estate News
Tagged Assumption, Basis Points, Borrowers, Cautionary Note, Chief Economist, Dallas Fort Worth, Decline, Delinquency Rate, Delinquent Loans, Distressed States, Foreclosure Rates, Fort Lauderdale, Fourth Quarter, Mba, Metro Areas, Mortgage Bankers Association, Mortgages, Negative Equity, Sequestration, Zillow
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Foreclosures Fall Due to New Laws
Foreclosure activity fell 28 percent from a year ago nationally, according to a new report from RealtyTrac, but in California, they were down nearly 40 percent. More telling is foreclosure starts, the first notice of a foreclosure filling. In California … Continue reading
Posted in Real Estate News
Tagged Borrowers, California Home Sales, Cash Purchases, Consumer Confidence, Dataquick, Delinquencies, Delinquent Properties, Dubious Distinction, Foreclosure Sales, Foreclosures, January 1st, John Walsh, Legal Changes, Lenders, Low Mortgage, Mortgage Rates, New Laws, Realtytrac, Southern California, Spectacular Job
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Fewer Borrowers Are Behind on Mortgages, but for How Long?
“The declines in the mortgage delinquency rate will likely be muted for the foreseeable futures as the foreclosure process in some states can take more than 1,000 days,” notes Tim Martin, of TransUnion’s financial services business unit. “It is not … Continue reading
Posted in Real Estate News
Tagged Backlogs, Borrowers, Business Unit, Declines, Delinquencies, Delinquency Rate, Financial Services Business, Foreclosure, Futures, Home Builders, Home Loans, Mortgage Delinquency, Mortgage Payment, Negative Equity, New Laws, Pipeline, Regulatory Rules, States Court, Tim Martin, Transunion
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Americans Are Using Their Houses as ATMs Again
With home prices up 8 percent year-over-year in December, according to the latest reading from CoreLogic, homeowners are regaining home equity at a fast clip—1.4 million borrowers rose above water on their mortgages through the end of September. That number … Continue reading
Posted in Real Estate News
Tagged Anecdotal Evidence, Atms, Blackwell, Borrowers, Education Expenses, Equifax, Home Equity Line, Home Improvements, Houses, Housing Bubble, Money Back, Mortgage Finance, Mortgages, Price Appreciation, Signs, Withdrawals
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Pending Home Sales Fall Due to Dwindling Supply
The Realtors’ monthly index fell 5.4 percent in the Northeast month-to-month, rose 0.9 percent in the Midwest, fell 4.5 percent in the South and fell 8.2 percent in the West. The West, and its severely distressed markets like Phoenix and … Continue reading
Posted in Real Estate News
Tagged Borrowers, Decline, First Time Home, First Time Home Buyers, Home Builders, Investor Interest, Las Vegas, Midwest, Million Dollars, Mortgages, Perspective, Phoenix, Realtors, Red Flags, Rental Apartments, S Market, Sales Contracts, Seasonal Rise, Stocks, Time Home Buyers
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Housing Crisis: New Rules Hit Mortgage Servicers
The nation’s five largest banks service about half of all mortgages, but recently they have been selling those servicing rights to so-called “specialty servicers,” like Ocwen and Nationstar, whose stocks have been soaring. These companies specialize in delinquent mortgages. The … Continue reading
Posted in Real Estate News
Tagged Borrowers, Cfpb, Common Sense, Crediting, Delinquencies, Delinquent Mortgages, Department Of Justice, Director Richard, Enforcement Regime, Exponentially, Federal Regulator, Foreclosure, Mandates, Monthly Statements, Mortgage Servicers, Nationstar, Ocwen, Poor Job, Richard Cordray, State Attorneys
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When Banks Walk Away, Homeowners Don’t Always Win
The trouble is, there are many borrowers who received delinquency notices or notices of default and thought they had to vacate. These were not notices of eviction or final foreclosure. Still, the borrower left before receiving the notice that the … Continue reading
Posted in Real Estate News
Tagged Borrowers, Delinquency, Eviction Notice, Fatigue, Foreclosure, Foreseeable Future, Home Values, Investor, Jacob, Legal Trouble, Mortgage Banks, Municipalities, Property Taxes, Repo Man, Stuff, Upkeep
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