Foreclosure pressure in the South is at its highest point since 2019, while the West’s housing market is thriving compared to the rest of the country, according to a new industry report. Processing Content “What our data is showing is essentially two housing markets inside one country,” said Matt Layton, senior vice president of consumer […]
South leads nation in foreclosure surge Read More »
Of the 50 U.S. counties with the risk for distressed properties, 31 are concentrated in four states, led by Florida, an Attom Data Solutions analysis found. Processing Content Florida is the home of 12 of those counties, with the No. 1 most at risk locale in the nation being Charlotte County. California was next with
31 of 50 riskiest housing markets cluster in 4 states Read More »
The Department of Veterans Affairs has unveiled new procedures for distressed borrowers with mortgages it partially guarantees, including an option that may help many who got loans at lower rates than are currently available in the market. Processing Content The VA will be ready to accept the legislatively-mandated partial claim that addresses the interest rate
VA finalizes new distressed borrower assistance Read More »
The U.S. foreclosure inventory as of the end of the first quarter was at its highest level in six years, with over three quarters of the nation’s metro areas reporting higher rates, Cotality’s latest Loan Performance Indicators report disclosed. Processing Content The foreclosure inventory rate rose for the first time in 15 months, with both
Foreclosure inventory rises in 1Q to six-year high Read More »
A lift in cure rates for distressed mortgages showed staying power in April with the monthly number significantly higher than earlier in the year, according to Intercontinental Exchange. Processing Content The consistent monthly rate of more than 62,000 far outpaces an average around 42,000 between November and February, ICE found in its First Look report.
Lift in mortgage cure rates may bode well for FHA recovery Read More »
Property taxes have surged 30% since 2019, and homeowners shouldn’t expect relief anytime soon, according to a new LendingTree study that found a 5.1% increase across every major U.S. metro area between 2023 and 2024. Processing Content In 2024, the median property tax burden was $3,119 for all homeowners. But for those paying a mortgage,
Property taxes up 30% since pandemic, with no relief in sight Read More »
Long-time mortgage industry executive Rick Thornberry is retiring as the CEO of the Radian Group just months after overseeing a major business shift into a multi-line insurer. Processing Content The company closed on its purchase of Inigo, a Lloyd’s specialty insurer in February; it is still in the process of selling its real estate services
Radian names ex-Mr. Cooper president as next CEO Read More »
The number of homes abandoned during the foreclosure process, known as “zombie foreclosures,” increased in the majority of states this quarter, an industry report found. Processing Content Zombie properties rose quarter over quarter in 38 states and the District of Columbia, according to Attom’s latest Vacant Property and Foreclosure Report. Out of the 104.9 million
Zombie foreclosures rise in most states, report finds Read More »
The increased workload from recent changes in Federal Housing Administration-backed loan servicing means any future strategy to counter today’s rising numbers must include engagement to change borrowers’ mindset, mortgage leaders say. Processing Content Years of relief measures introduced during the COVID-19 pandemic, beginning with automatic forbearance following any stated financial hardship, created a change in
FHA servicers brace for slow, steady delinquency climb Read More »
A lot of the debate regarding credit score modernization has focused on the actions of, and comparisons between FICO and VantageScore. Representatives of both were on a panel on the topic at the Mortgage Bankers Association’s Secondary and Capital Markets Conference in New York. Processing Content But the session also featured two lenders in the
Lenders look at operational changes in credit score update Read More »