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real estate-owned (REO)

LRES Takes Assembly Line Approach to REO Management

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LRES has announced its new real estate-owned (REO) operating model to increase efficiency and accommodate the influx of new clients with portfolios of assets in various stages of the foreclosure process. An assembly line operational system was developed to enable task managers to handle each stage of the life of the property from beginning to end. Previously, LRES employed the more traditional system whereby a single asset manager handled the entire servicing process.Click to continue

Monthly Foreclosure Activity Rises Eight Percent in January

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RealtyTrac has released its U.S. Foreclosure Market Report for January 2014, which shows foreclosure filings were reported on 124,419 U.S. properties in January an eight percent increase from December but still down 18 percent from January 2013. The report also shows one in every 1,058 U.S. housing units had a foreclosure filing during the month.Click to continue

CoreLogic: Annual Home Price Growth Strongest Since 2005

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CoreLogic has released its December CoreLogic Home Price Index (HPI) report which found that year-over-year, home prices nationwide, including distressed sales, increased 11 percent in December 2013 compared to December 2012. This change represents the 22nd consecutive monthly year-over-year increase in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, decreased by 0.1 percent in December 2013 compared to November 2013.Click to continue

Siomara Barboza Joins Inlanta Mortgage's Illinois Branch

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Inlanta Mortgage has announced the addition of Siomara Barboza to the origination team in Oak Brook, Ill. Barboza is a bi-lingual loan originator who specializes in helping Hispanic homebuyers with their financing needs. Barboza began her career in the mortgage industry a year after graduating from the University of Illinois in Chicago in 2002. She began as an assistant to the top producer, while being the only Spanish speaker in the office and assisting with all the Hispanic clientele. After a couple of years of learning the ropes, she branched out on her own.Click to continue

DataQuick: Housing Growth Slows in December

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DataQuick has reported that both home sales and home price numbers slowed in many areas across the country in December. After months of increased home price growth across all 42 reporting markets in DataQuick’s monthly Property Intelligence Report (PIR), prices leveled off in many areas last month and even declined in four reporting counties—Cuyahoga, Ohio, Queens and Suffolk, N.Y., and Fairfield, Conn.Click to continue

GSEs Prevent Three Million-Plus Foreclosures Since September 2008

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The Federal Housing Finance Agency (FHFA) has announced that Fannie Mae and Freddie Mac have reached a significant milestone, completing more than three million foreclosure prevention actions since the start of conservatorship in September 2008. FHFA noted this milestone in its third quarter Foreclosure Prevention Report (also known as the Federal Property Manager’s Report), which details results of foreclosure prevention programs.Click to continue

Sales Volume Down From Year Ago in 14 of 50 Largest Metros

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RealtyTrac has released its November 2013 U.S. Residential & Foreclosure Sales Report, which shows that U.S. residential properties, including single family homes, condominiums and townhomes, sold at an estimated annual pace of 5,146,565 in November, a less than one percent increase from a revised pace of 5,128,034 in October and up 10 percent from November 2012.Click to continue

Changing Technology Mindsets for Growth in 2013

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A huge question for mortgage companies in 2012 that will remain in 2013 is “How does one grow in a challenging and unpredictable market?” To answer this, we first need to examine the growth strategies of the past to uncover why the continuation of these tactics, instead of adjusting to the market’s needs, has become problematic for many organizations. From there, we can then evaluate how a mortgage company can best expand its reach and maintain relevancy, even in an exceedingly difficult economic and regulatory environment.Click to continue

GSEs Prevent Nearly Three Million Foreclosures Since 2008

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Fannie Mae and Freddie Mac have completed more than 2.9 million foreclosure prevention actions since the start of conservatorship in 2008. These actions have helped approximately 2.4 million borrowers stay in their homes, including more than 1.4 million who received permanent loan modifications. During the first half of 2013, Fannie Mae and Freddie Mac completed more than 247,000 foreclosure prevention actions, 117,000 of these in the second quarter. The majority of these allowed troubled borrowers to save their homes.Click to continue

BofA Accused of Not Maintaining REOs in Minority Neighborhoods

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On the one-year anniversary of their initial complaint with the U.S. Department of Housing and Urban Development (HUD), the National Fair Housing Alliance and four of its member organizations, the Denver Metro Fair Housing Center, Metro Fair Housing Services Inc. (Atlanta), Miami Valley Fair Housing Center (Dayton), and Housing Opportunities Project for Excellence, Inc.Click to continue