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Settlement Services

Home Flipping Up 16 Percent Year-Over-Over in 2013

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RealtyTrac has released its Year-End and Q4 2013 Home Flipping Report, which shows 156,862 single family home flips—where a home is purchased and subsequently sold again within six months—in 2013, up 16 percent from 2012 and up 114 percent from 2011. Homes flipped in 2013 accounted for 4.6 percent of all U.S. single family home sales during the year, up from 4.2 percent in 2012 and up from 2.6 percent in 2011.Click to continue

Foreclosure Inventory Drops by More Than 30 Percent Year-Over-Year in December

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CoreLogic has released its December National Foreclosure Report, which provides data on completed U.S. foreclosures and the national foreclosure inventory. According to CoreLogic, there were 620,111 completed foreclosures across the country in 2013 compared to 820,498 in 2012, a decrease of 24 percent. For the month of December, there were 45,000 completed foreclosures, down from 52,000 in December 2012, a year-over-year decrease of 14 percent. On a month-over-month basis, completed foreclosures decreased 4.1 percent, from 47,000 reported in November 2013.Click to continue

NexTitle Launches New GLADiS Online Toolset

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NexTitle has announced the general availability of its newest suite of online tools known as GLADiS, for real estate and mortgage professionals. With today’s hectic schedules, many agents and lenders work non-traditional business hours. GLADiS was designed to cater to on-the-go professionals, enabling them to access the information and documents they need to serve their customers from anywhere, at any time. Since its initial launch, NexTitle has seen an increase in online orders by nearly 60 percent, increasing from a handful of orders per day to nearly 10 a day.Click to continue

Foreclosure Inventory Down Nearly 30 Percent as 2013 Ends

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The Data and Analytics division of Black Knight Financial Services (formerly the LPS Data & Analytics division) has reported the following "first look" at December 2013 month-end mortgage performance statistics derived from its loan-level database representing approximately 70 percent of the overall market.Click to continue

Title Source Launches Real-Time Signing Agent Mobile App

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Title Source, a provider of title insurance, property valuations and settlement services, has announced the launch of its mobile app, My Signings, providing a streamlined process for Title Source and thousands of its signing agent partners nationwide.Click to continue

Loans Mods See 12 Percent Drop in November While Foreclosures Overall See 20 Percent Decline

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HOPE NOW has released its November 2013 loan modification data where an estimated 44,000 homeowners received permanent, affordable loan modifications from mortgage servicers during November. This total includes modifications completed under both proprietary programs and the government’s Home Affordable Modification Program (HAMP).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

Total U.S. Delinquency Rate Hits 6.45 Percent in November

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Lender Processing Services Inc. (LPS) has reported the following “first look” at November 2013 month-end mortgage performance statistics derived from its loan-level database representing approximately 70 percent of the overall market. In November, total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure) stood at 6.45 percent. The month-over-month change in delinquency rate was 2.63 percent, while the year-over-year change in delinquency rate stood at -9.41 percent.Click to continue

Total Loan Mods for the Year Exceed 680,000 in October

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HOPE NOW has released its October 2013 loan modification data which finds that an estimated 50,000 homeowners received permanent, affordable loan modifications from mortgage servicers during the month of October. This total includes modifications completed under both proprietary programs and the government’s Home Affordable Modification Program (HAMP). The total number of loan modifications for 2013 currently stands at approximately 680,000. This compares to approximately 545,000 foreclosure sales reported for the year to date.Click to continue

Thirteen Percent of Mortgagees Remain in Negative Equity at Close of Q3

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CoreLogic released new analysis showing approximately 791,000 more residential properties returned to a state of positive equity during the third quarter of 2013, and the total number of mortgaged residential properties with equity currently stands at 42.6 million. The analysis indicates that nearly 6.4 million homes, or 13 percent of all residential properties with a mortgage, were still in negative equity at the end of the third quarter of 2013.Click to continue