Subscribe to the print edition of National Mortgage Professional MagazineSubscribe to our RSS feedFollow us on TwitterGet daily updates via emailJoin us on Facebook

Settlement Services

HOPE NOW Reports 116,000-Plus Loan Mods Granted in Q2

Foreclosure Sign Pic

HOPE NOW has released data for the second quarter of 2014, which shows that approximately 421,000 homeowners received non-foreclosure solutions from mortgage servicers between the months of April and June. Permanent loan modifications totaled approximately 116,000 and short sales totaled 33,000.Click to continue

July Foreclosure Activity Down for 46th Consecutive Month Year-Over-Year

Foreclose_Sign_Pic

RealtyTrac has released its U.S. Foreclosure Market Report for July 2014, which shows foreclosure filings—default notices, scheduled auctions and bank repossessions—were reported on 109,434 U.S. properties in July, an increase of two percent from the previous month but still down 16 percent from a year ago. The report also shows one in every 1,203 U.S. housing units with a foreclosure filing during the month.Click to continue

NAR Partners With FHFA for Atlanta HARP Workshop

FHFA_Logo_04_13_12

More than 34,000 Atlanta residents are potentially eligible to reduce their mortgage payments under the Home Affordable Refinance Program, or HARP, according to Federal Housing Finance Agency Director Mel Watt and the National Association of Realtors, who recently participated in a special town hall meeting in Atlanta for community leaders and real estate professionals.Click to continue

Florida and Connecticut AGs Jointly Sue Loan Mod Firm

Black Gavel Pic/Credit: Brand X Pictures

Florida Attorney General Pam Bondi and Connecticut Attorney General George Jepson have jointly sued Berger Law Group, Resolution Law Group, and related entities and individuals over allegations that they collected at least $4.7 million in illegal upfront fees from distressed homeowners.Click to continue

Loan Mod Scheme Netting $18.5 Million From 8,000-Plus Victims Taken Down

Loan_Mod_Sign_Pic

Christy Romero, Special Inspector General for the Troubled Asset Relief Program (SIGTARP), and Preet Bharara, U.S. Attorney for the Southern District of New York, announced the unsealing of charges against Ped Abghari, a/k/a “Ted Allen,” Dionysius Fiumano, a/k/a “D,” and Justin Romano for engaging in a mortgage modification scheme that defrauded over 8,000 homeowners in all 50 states out of over $18.5 million, in what is believed to be the largest mortgage modification scheme ever charged.Click to continue

Foreclosure Inventory Found to be Significantly Higher in Judicial States

Black Gavel Pic/Credit: Brand X Pictures

The Data and Analytics division of Black Knight Financial Services (BKFS) has released its latest Mortgage Monitor Report, looking at data as of the end of June 2014. An analysis of the month's mortgage performance data showed that the nation's inventory of loans in foreclosure is disproportionately distributed in states with judicial foreclosure processes.Click to continue

LenderLive Names Larry Hudnall SVP of Settlement Services

LenderLive_Logo_06_22_12

LenderLive Network Inc. announced that Larry Hudnall has joined the firm as senior vice president, national sales manager of the company’s Settlement Services Sivision. Hudnall will be responsible for sales, sales management and revenue growth for LenderLive’s Settlement Services division. He will report directly to Joe Mowery, president of the division.Click to continue

Foreclosues For Month of June Down, Year Over Year

Foreclosure Dictionary Pic

CoreLogic has released its June National Foreclosure Report, which provides data on completed U.S. foreclosures and foreclosure inventory. According to CoreLogic, for the month of June 2014, there were 49,000 completed foreclosures nationally, down from 54,000 in June 2013, a year-over-year decrease of 9.9 percent. On a month-over-month basis, completed foreclosures were up by 2.7 percent from the 48,000 reported in May 2014.Click to continue

SIGTARP Busts Bogus California Loan Mod Biz

Black Gavel Pic/Credit: Brand X Pictures

The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) has announced that federal agents arrested three defendants who worked at Orange County, Calif., businesses that allegedly offered bogus loan modification programs to financially distressed homeowners. As a result of the fraudulent scheme allegedly run as U.S. Homeowners Relief and several related entities, hundreds of financially distressed homeowners across the United States lost millions of dollars, and many victims also lost their homes in subsequent foreclosure proceedings.Click to continue

More Than Nine Million U.S. Properties Remain Seriously Underwater in Q2

Underwater_Home_Pic_04_03_14

RealtyTrac has released its U.S. Home Equity & Underwater Report for the second quarter of 2014, which shows that 9.1 million U.S. residential properties were seriously underwater—where the combined loan amount secured by the property is at least 25 percent higher than the property’s estimated market value—representing 17 percent of all properties with a mortgage.Click to continue