Skip to main content

HOPE NOW: 105K Non-Foreclosure Solutions in May

Phil Hall
Jul 18, 2016
Non-foreclosure solutions outnumbered foreclosure sales by a four-to-one ratio in May, according to new data released by HOPE NOW

Non-foreclosure solutions outnumbered foreclosure sales by a four-to-one ratio in May, according to new data released by HOPE NOW.

During May, there were a total of 105,000 non-foreclosure solutions versus 27,000 foreclosure sales. Within the non-foreclosure solutions, there were approximately 29,000 loan modifications, 6,200 completed short sales, 1,700 completed deeds in-lieu and 51,000 foreclosures starts. There were approximately 1.62 million properties in serious delinquency in May, a one percent decline from the 1.64 million rate in April.

Eric Selk, HOPE NOW’s executive director, praised the May data as “evidence of the wide breadth of options available to homeowners in both the short and long term,” adding that these numbers show “shows the mortgage servicers’ dedication to helping homeowners stay in their home. This end goal is something that all organizations in the industry can be proud of.”

Published
Jul 18, 2016
loanDepot And mellohome Introduce Home Services Bundle

loanDepot, Inc. and its sister company mellohome are launching a proprietary bundle of home buying and selling services.

Industry News
Jul 30, 2021
Gateway Mortgage Surpasses 165 Mortgage Centers With 10 New Additions

Gateway Mortgage reported significant growth in the company, prompting it to open 10 new locations across Colorado, Idaho, Oklahoma, Texas, Oregon, and Wyoming.

Industry News
Jul 30, 2021
FHFA Requires 30-Day Notice Prior To Eviction

Wednesday, the Federal Housing Finance Agency (FHFA) announced that tenants of multi-family properties must be given 30 days notice to vacate before the tenant is required to leave the premise.

Industry News
Jul 29, 2021
Houston-Based Stewart Acquires Title First Agency

Ohio-Based Agency Has 20 Offices And Operates in 32 States

Industry News
Jul 28, 2021
Planet Home Lending Reports Total Origination Volume Of $6.8B In Q2 2021

Planet Home Lending's total origination volume reached $6.8 billion in Q2 2021, up 77% from $3.9 billion in Q2 2020.

Industry News
Jul 22, 2021
FHFA Ends Controversial Refinance Fee

The FHFA announced that Fannie Mae and Freddie Mac will eliminate the Adverse Market Refinance Fee for loan deliveries, starting August 1, 2021.

Analysis and Data
Jul 19, 2021