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Settlement Services

FHFA: Delinquencies Drop in Q2

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The Federal Housing Finance Agency (FHFA) has released a report showing that Fannie Mae and Freddie Mac completed approximately 80,000 foreclosure prevention actions in the second quarter of 2014, bringing the total to nearly 3Click to continue

Charlie Kent Named VP of Sales for LenderLive's Settlement Services Division

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LenderLive Network Inc. has announced that Charlie Kent has joined the firm as vice president of national sales for the company’s Settlement Services Division. Kent will be responsible for developing new client relationshClick to continue

Foreclosure Sales Rise in July

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HOPE NOW has released its July 2014 loan modification data. An estimated 35,000 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). Since 2007, approximately 7.13 million total homeowners have received loan modifications. This includes approximately 5.7 million proprietary loan modifications and 1,397,498 completed via HAMP.Click to continue

Year-Over-Year Foreclosures Down Nine Percent in August

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RealtyTrac has released its U.S. Foreclosure Market Report for August 2014, which shows foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 116,913 U.S. properties in August, an increase of seven percent from the previous month, but still down nine percent from a year ago. The report also shows one in every 1,126 U.S. housing units with a foreclosure filing during the month.Click to continue

Surge of Past Short Sellers Spotlights New Problems for Sellers With Deficiencies

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Many are aware of the foreclosure code placed on past short seller credit. As past short sellers surge back into the housing market, new problems come to light. Short sellers who paid on a deficiency after the short sale closed are getting denied by both Fannie Mae and Freddie Mac for a conventional mortgage for three reasons:

1. The short sale credit is coded as a foreclosure, the same problem that almost all short sales are experiencing.Click to continue

Estimated Annual Pace Down Three Percent For Condos, Apartments and Single Family

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RealtyTrac released its July 2014 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 4,634,513 in July, down three percent from the previous month and down 12 percent from a year ago — the third consecutive month where annualized sales volume has decreased on a year-over-year basis.Click to continue

One in Six Homeowners Are Still Underwater, According to Zillow

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One in six (17 percent) U.S. homeowners with mortgages – or 8.7 million – were still underwater on their mortgage in the second quarter of 2014, despite rising home values, according to the Zillow Negative Equity Report. This is down from 18.8 percent in the first quarter of 2014, and down from 23.8 percent from last year (Q2 2013).Click to continue

New York AG Files Suit Against Florida and New York Loan Mod Firms

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Attorney General Eric T. Schneiderman filed a lawsuit in New York County Supreme Court against four interrelated companies and their principals for operating a fraudulent loan modification scam. The lawsuits were filed against Home Affordable Direct, Inc. (Farmingdale, NY), Home Affordable Solutions, Inc. (Farmingdale, NY), JR Holding Group Corp (Babylon, NY), Clear Solutions and Settlements, Inc. (Tampa, FL) and their principals, Javier Gutierrez and Shadi Soumekh.Click to continue

National Foreclosure Report Indicates Over 20 Percent Decrease, Year-Over-Year

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CoreLogic released its July National Foreclosure Report, which provides data on completed U.S. foreclosures and foreclosure inventory. According to CoreLogic, for the month of July 2014, there were 45,000 completed foreclosures nationally, down from 57,000 in July 2013, a year-over-year decrease of 21.2 percent. On a month-over-month basis, completed foreclosures were down by 8.5 percent from the 49,000 reported in June 2014.Click to continue