Settlement

There were 30,000 permanent loan modifications completed in February
There were 30,000 permanent loan modifications completed in February, up from 29,000 in January, according to new data from HOPE NOW. Within the total number of modifications, an estimated 20,000 were through proprietary programs and 9,445 were completed via HAMP.   During February, there were... Keep Reading....
There is more very good news on the mortgage servicing side of the industry: According to the latest data from HOPE NOW, there were 113,000 mortgage solutions completed in October
There is more very good news on the mortgage servicing side of the industry: According to the latest data from HOPE NOW, there were 113,000 mortgage solutions completed in October, compared to just more than 19,000 completed foreclosures, a nearly six-to-one difference. Included in that total... more
Although the national negative equity rate fell to 10.9 percent in the third quarter, down from 13.4 percent a year earlier, 11 percent of homeowners—5.3 million households—are still underwater, according to new data from Zillow. However, negative equity is not even spread among all regions. Zillow... more
To borrow a lyric from Bruce Springsteen, the foreclosure level is “goin’ down, down, down, down.” According to CoreLogic’s October 2016 National Foreclosure Report, the foreclosure inventory declined by 31.5 percent and completed foreclosures declined by 24.9 percent compared since October 2015,... more
Last week, after years of research, I wrote a paper that detailed the urgent need for a refinance for negative equity or “underwater” non-Fannie Mae, non-Freddie Mac first mortgages, second mortgages and home equity lines of credit (HELOC)1 where no refinance option is available. Part I explained... more