The Louisiana Attorney General’s Consumer Protection Division is urging borrowers who have submitted foreclosure-related claims to the National Mortgage Settlement Administrator to check their mail closely. That’s because 5,953 individual Louisiana borrowers who submitted a valid foreclosure payment claim through the National Mortgage Settlement should each be receiving a check for approximately $1,480 under the terms of the settlement. The settlement administrator has mailed claim payments to 962,278 eligible borrowers nationwide over the last few weeks.Click to continue
Lender Processing Services Inc. (LPS) has reported the following "first look" at May 2013 month-end mortgage performance statistics derived from its loan-level database representing approximately 70 percent of the overall market. The total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure) is currently 6.08 percent. The month-over-month change in delinquency rate is -2.11 percent. The year-over-year change in delinquency rate sits at -12.01 percent.Click to continue
RealtyTrac released a report showing that as of June owners had vacated 167,680 foreclosure properties nationwide, representing 20 percent of all U.S. properties in the foreclosure process. These owner-vacated foreclosures are in addition to 544,274 bank-owned homes nationwide that have been foreclosed on but not sold to a third party.
High-level findings from the reportClick to continue
HOPE NOW has released its April 2013 loan modification data which has found that an estimated 70,000 homeowners received permanent, affordable loan modifications from mortgage servicers during the month. This total includes modifications completed under both proprietary programs and the government’s Home Affordable Modification Program (HAMP). The April total of approximately 70,000 loan modifications brings the total overall number of permanent loan modifications to 6.39 million.
Since 2007:Click to continue
Joseph A. Smith Jr., Monitor of the National Mortgage Settlement, has released "Summary of Compliance: A Report From the Monitor of the National Mortgage Settlement," a summary of the five compliance reports he submitted to the United States District Court for the District of Columbia. This summary includes information about the banks’ (Bank of America, Chase, Citi, ResCap Parties and Wells Fargo) compliance with the Settlement’s servicing rules.Click to continue
The U.S. Department of Housing & Urban Development (HUD) and the U.S. Department of the Treasury have released the May edition of the Obama Administration's Housing Scorecard—a comprehensive report on the nation’s housing market. Data continue to show important progress across many key indicators—as the annual home price increase is the highest since the housing bubble burst in mid-2006 and purchases of new and existing homes remain strong—although officials caution that a full housing recovery will take more time.Click to continue
The U.S. Department of Housing & Urban Development (HUD) has announced that Wells Fargo Bank, the National Fair Housing Alliance, 13 private fair housing organizations and Acting Assistant Secretary Bryan Greene have reached an agreement through which Wells Fargo will invest in efforts designed to help improve housing in minority neighborhoods that have been hard hit by the foreclosure crisis.Click to continue
RoundPoint Mortgage Servicing Corporation has announced its adoption of Fannie Mae's Servicing Management Default Underwriter (SMDU) tool designed to help mortgage servicers work faster and more consistently to prevent foreclosure.Click to continue
RealtyTrac has released its Q1 2013 U.S. Foreclosure & Short Sales Report, which shows a total of 190,121 U.S. properties in some stage of foreclosure or real estate-owned (REO) were sold during the quarter, a decrease of 18 percent from the previous quarter and down 22 percent from the first quarter of 2012. These foreclosure-related sales accounted for 21 percent of all U.S. residential sales during the first quarter, down from 25 percent of all sales in the first quarter of 2012 and down from a peak of 45 percent of all sales in the first quarter of 2009.Click to continue
CoreLogic released its April National Foreclosure Report which provides data on completed U.S. foreclosures and the national foreclosure inventory. According to CoreLogic, there were 52,000 completed foreclosures in the U.S. in April 2013, down from 62,000 in April 2012, a year-over-year decrease of 16 percent. On a month-over-month basis, completed foreclosures remained flat at 52,000, the same number reported for March 2013.Click to continue